State National to enter UK market to serve MGAs
Programme services carrier will focus on specialty commercial lines
State National Companies, the largest programme services carrier in the US and a wholly owned subsidiary of Markel, is entering the UK market on 1 January 2024.
State National is partnering with Markel International Insurance to create a programme services division in the UK to serve managing general agents (MGA). The new division will focus on supporting specialty commercial lines programmes.
“There is a meaningful growth opportunity supporting the creation of a programme services platform in the UK that will address strong demand associated with local MGAs and more broadly across the globe,” said Matt Freeman, CEO and president of State National Companies. “The UK MGA market is under served, and we’re intent on building a leading programme services division in the UK. The new division is a great example of Markel’s ‘power of the platform’, combining State National’s 40-plus years of programme services experience with Markel’s well-established insurance company in the UK.”
Simon Wilson, president, Markel International, added: “This is a tremendous example of leveraging the capabilities that exist across the Markel platform. When complete, we believe Markel launching a division focused on programme services will bring much-needed capabilities to the market and help us better support the MGAs in the UK. It has been tremendous learning from State National’s skill and experience in programme services. We are excited about taking this offering to the UK MGA market.”
Markel’s Rob Whitt will lead the new division as executive director, State National Global, subject to regulatory approval. Whitt currently serves as managing executive for corporate development, responsible for the insurance operations’ M&A activity, as well as product development focused on linking Markel’s insurance, reinsurance, programmes service and insurance-linked securities capabilities.
“Working across Markel, Rob has driven the effort to establish State National Global with its programme services expertise in the UK market,” Freeman said. “We’re excited to be partnering with our UK colleagues to leverage the strategic offerings that Markel has assembled and the capabilities we have to support our customers worldwide.”
