The company’s wholesale operation, headed by Andrew McMellin, has seen significant growth and remains on track to achieve its goal of being a $2 billion GWP player by 2025, as part of Markel’s global insurance operation’s goal to hit $10 billion in GWP by the end of 2025, yielding $1 billion in underwriting profits.
As part of the reorganization, Chris Fenn, the current divisional managing director of marine, will be leaving the company to pursue other opportunities.
“The decision to merge the two divisions will move us along in our ambitious growth trajectory and will enable us to better leverage the synergies across our energy and marine offer, including energy property and liability products, renewables and project cargo,” McMellin said. “The enhanced offer will benefit our broking partners, deepen our client relationships and align our distribution strategies. Furthermore, the increased scale and balance will help us navigate the volatility that is being experienced within the broader market for these classes.”
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“This is a well-deserved promotion for Rohan, who I’m certain will approach this important role with the direction, drive and innovative thinking that he is already renowned for at Markel and across the market,” McMellin said.
“Chris has been a highly valued part of Markel since he joined in 2008 and leaves with our best wishes,” he said. “I know I join the entire business in thanking him for his significant contribution over the years.”