Markel ‘reinforces commitment’ to Chinese market

Markel, the insurance operations within US-based insurer and reinsurer Markel Group, says that it has “reinforced its commitment” to the Chinese market with the appointments of Martin He as marine underwriter, George Ke as PFR (professional financial risks) and cyber underwriter, and Lei Wang as manager of model analytics & reporting. Markel has had a presence in China since 2011, when it opened a representative office in Beijing. In 2015, it joined the Lloyd’s platform in Shanghai, initially to provide treaty and facultative reinsurance for Chinese insurers, expanding to a range of lines from the platform in China on its Lloyd’s syndicate 3000 paper. The group recently published improved 2023 full-year and first-quarter results, benefiting from corrective actions taken, notably in US casualty and financial lines, to improve its underwriting results. Jeremy Noble – president of group insurance operations – told analysts in the results call that the focus remains “absolutely on bottom line financial performance and underwriting profitability”. Despite this focus on sharp underwriting discipline largely in the US, the group clearly also sees room for further growth in its Chinese operations. Noble said that the group remains keen on expansion where terms and conditions justify it and is seeing “pockets to grow”, notably in marine and energy. No surprise then that the new Chinese hires start in the marine market as Martin He joins from Howden’s specialty logistics division and brings nearly 15 years of experience in marine insurance. Markel said that He is experienced in various aspects of marine insurance, including cargo, project cargo, stock-throughput, cargo war, hull war, specie & fine arts, marine liability, political violence, and multinational accounts. He will collaborate closely with the marine underwriting team to help drive profitable growth and success for Markel International in China and to further relationships with clients and brokers, said the insurer. George Ke joins Markel from leading security solutions provider Yuanbao Technology, where he was cyber insurance product director, responsible for advising Chinese insurers on cyber risk assessment and pricing. Prior to that, Ke spent six years at Chubb Insurance, where he wrote various classes of financial lines, such as cyber, D&O, financial institutions and professional indemnity. Markel has also appointed Lei Wang as manager of model analytics & reporting. Wang joins from AIG Japan, where she spent two years as head of ERM analytics. He and Ke will report directly to Qianhai Hu, underwriting director at Markel China. Wang will report to Christopher Bailey, global head of capital at Markel, based in London. Qianhai Hu, said: “I’m thrilled to welcome Martin He and George Ke to the Markel family. He’s deep understanding of the marine insurance sector makes him a valuable addition to our team, particularly as China’s maritime industry continues to rapidly expand and evolve. Ke’s insight on the China market will enhance our PFR & cyber underwriting services in emerging risk areas. With them on board, we’re confident in our ability to better meet the evolving needs of our clients in China and further strengthen our position in that market.” Speaking of Wang’s appointment, Christopher Bailey, global head of capital at Markel, said: “Wang’s role will focus on enhancing Markel’s analytical capabilities and reporting processes, supporting the company’s strategic decision-making and risk-management efforts in Lloyd’s and Markel globally.” Other than China, Markel also has offices in Singapore, Hong Kong, Kuala Lumpur, Mumbai, Sydney, Melbourne, Brisbane and Dubai. Christian Stobbs is the Singapore-based APAC managing director of Markel International, and Kevin Leung is the APAC chief underwriting officer.

Markel ‘reinforces commitment’ to Chinese market

Key hires in Shanghai in marine and cyber

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