Insurer Looks to Deliver Streamline Efficiencies

Markel International, has announced it is to streamline the leadership of its wholesale operation as it seeks to drive greater services efficiencies.

It has appointed James Hastings as managing director of wholesale in an effort to redefine its reporting structure and seek to drive greater opportunities for crossover between its wholesale and national divisions.

In this role, Mr Hastings will report to William Stovin, president of Markel International, and will join the board of directors for Markel Syndicate Management and Markel International Insurance Company subject to regulatory approval.

Since 2016 he has been head of the underwriter’s specialty and financial lines division.

Under the restructure the wholesale unit will operate with seven divisions, led by sperate divisional managing directors (DMDs), for cyber, Scott Bailey for cyber, energy, marine, personal accident, contingency and entertainment, equine and livestock, trade credit, political risk and surety, and professional and financial risks. Each DMD will report directly into Mr Hastings.

Christian Stobbs, managing director for Asia, will also report to James, as part of the restructure.

William Stovin, president of Markel International, said: “We have seen significant growth over recent years and we now have two very clear operations, wholesale and national markets. It is important that both have a leader, James for wholesale and Henrik Bjornstad for national markets, with ultimate accountability to provide strategic direction for each division, but to also recognise opportunities for synergy across both.

“James has consistently demonstrated a drive and passion for progress, which along with his membership of the Markel International ExCo, since January 2018, makes him ideally placed to deliver our goals for the wholesale business. The strength in depth of this newly formed management team creates a fantastic platform from which we can attack future opportunities and drive profitable growth.”