Markel Corp. to create new insurance division
Henrico County-based Markel Corp. will create a new insurance division, which will combine its wholesale (excess and surplus lines) and global insurance (complex, risk-managed accounts) divisions.
Bryan Sanders, president of Markel Wholesale, will lead the new division, which will be named Markel Assurance.
Britt Glisson, president of Markel Global Insurance, will assist in the transition and will retire next year.
Markel Assurance will have underwriting teams in the U.S, Bermuda, Dublin and London.
The gross written premium of the combined division is about $1.8 billion.
Products will originate from three product lines: casualty, professional liability and property/marine.
Markel's other operating insurance divisions are Markel Specialty, Markel International and Markel Global Reinsurance.
Markel Assurance will operate 10 offices in six regions in the U.S. Other locations for the new division include Bermuda, Dublin and London.
The new division is expected to be up and running by Jan.1.