LONDON, June 29, 2021 /PRNewswire/ -- Markel
Corporation (NYSE: MKL) announced today that Simon Wilson will become the next President of
Markel International, a wholly-owned subsidiary. He will succeed
William Stovin who has led the
Markel International division since 2008. The transition is part of
a planned succession that will fully take effect no later than
January 1, 2022, pending regulatory
Stovin joined Markel as part of the acquisition of Terra Nova
Holdings, Ltd. in 2000. The deal was part of a long-term strategy
to expand Markel's footprint beyond North
America to become a global player in specialty insurance.
Toward that end, Stovin played a leading role in helping Markel
expand to more than 60 insurance offices in 16 different countries.
Under Stovin's leadership, gross written premiums profitably
increased at a compound annual growth rate of roughly seven
percent—more than doubling the size of the division.
"Markel is a truly remarkable company, and having the
opportunity to help expand it to new frontiers has been a great
honour. I will always admire this organisation, and I know that
Markel International will be in great hands under Simon's
leadership," Stovin said.
Robert Cox, President and Chief
Operating Officer of Insurance Operations for Markel, commented,
"Our global expansion was one of the most important decisions in
Markel's history, and William deserves significant credit for
making it a success. His disciplined approach to profitably growing
our wholesale business while also establishing and expanding our
international retail operations has laid the foundation for
tremendous growth in the future, and I'm confident that Simon will
leverage this foundation to successfully lead our international
operations in achieving our profitable growth goals."
Wilson comes to the position with nearly 20 years of experience
scaling the international operations of large specialty insurance
organisations. He joined Markel in 2010 to spearhead international
business development, and he was the primary architect of the
National Markets division with operations in Europe and Canada, which profitably grew from
$121 million to $402 million in annual gross written premium over
the last decade. Wilson currently serves as the Managing Executive
of Global Strategy for Markel. Prior to joining Markel, he led the
Lloyd's Asia platform in
"I'm honoured to have been selected for this role, and look
forward to building upon William's legacy. Markel seeks to be a
leader in each of our pursuits, and our 90-year history has proven
that the best way to do this is through deep expertise and
exceptional service. Our commitment to understand our customers'
needs while exceeding their expectations will continue to be at the
forefront of our minds as we further scale our international
operations," Wilson said.
Wilson will report to Cox and work from the London office. Stovin will remain with the
company in an advisory capacity into next year.
Markel Corporation is a diverse
financial holding company serving a variety of niche markets. The
company's principal business markets and underwrites specialty
insurance products. In each of the Company's businesses, it seeks
to provide quality products and excellent customer service so that
it can be a market leader. The financial goals of the company are
to earn consistent underwriting and operating profits and superior
investment returns to build shareholder value. Markel® is a
registered trademark of the Markel Corporation. Visit Markel on the
web at markel.com.
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SOURCE Markel Corporation