RICHMOND, Va., Nov. 16,
2022 /PRNewswire/ -- Markel Corporation (NYSE:
MKL) announced today that Thomas S.
Gayner, Co-Chief Executive Officer, will become sole Chief
Executive Officer upon the retirement of Richard R. Whitt III, Co-Chief Executive
Officer, on January 1, 2023. Also
effective on that date, Jeremy A.
Noble, Senior Vice President and Chief Financial Officer,
will become President of Markel's global insurance engine. As
announced earlier this year, the company has been preparing for
this transition for some time.
As Chief Executive Officer, Gayner will lead the continued
growth of Markel's group of businesses and investments, which are
organized as three engines of insurance, investments, and Markel
Ventures. All of Markel's businesses share a culture referred to as
the Markel Style, and Gayner will be responsible for the
perpetuation of that culture, as well as ensuring that capital
flows to the best opportunities to create long-term value.
"This is an exciting time for Markel," said Gayner. "Since our
founding in 1930, each evolution and every leadership transition
has reinforced the role that culture plays in our success. The
Markel Style is more than just words on a page, it's who we aspire
to be. We applaud Richie for his role in upholding the Style
throughout his time at Markel. We are going to deeply miss him and
what he has meant to this organization, and we wish him well in his
As President, Insurance, Noble will be responsible for the
strategy, oversight, and operation of Markel's global insurance
engine, which includes the company's insurance and reinsurance
operations, State National, and Nephila. Noble has been working
closely with Whitt and leaders across the insurance business to
ensure a seamless transition.
"I am humbled and excited to take on this role and build on the
strong foundation Richie created for Markel's global insurance
operations," said Noble. "We aspire to be the leading global
specialty insurer, and thanks to Richie's leadership, we have an
incredibly talented team with deep industry expertise and a broad
array of capabilities to effectively meet our brokers and clients
risk management needs. Looking ahead, we are eager to unlock even
greater value by embracing opportunity and striving for even better
solutions for our customers."
Markel continues its search for a successor to Noble as Senior
Vice President and Chief Financial Officer, and interim plans are
in place should a candidate not be selected by January 1, 2023.
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