October 26, 2019
Specialist insurer Markel has streamlined its wholesale operation and adds James Hastings as managing director of the unit, reporting to William Stovin, president of Markel International.
Hastings will join the board of directors for Markel Syndicate Management and Markel International Insurance Company, subject to regulatory approval.
Hastings has been with the firm since 2013, most recently serving as head of the specialty lines division.
The wholesale unit will operate with seven divisions and be led by the following divisional managing directors: Scott Bailey for cyber; Rohan Davies for energy; Chris Fenn for marine; James Leach for personal accident, contingency and entertainment; Juliet Redfern for equine and livestock; Ewa Rose for trade credit, political risk and surety; and David Sawyer for professional and financial risks.
Each divisional managing director, will report directly into Hastings as well as Christian Stobbs, managing director for Asia.
Markel says these changes to the leadership structure are designed to allow a more focused approach to how the business operates, how it meets the needs of broking clients and customers and how it identifies opportunities for growth and product development.
It is also set up to deliver operational efficiencies, particularly around data analytics, technology and marketing and communications.
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.”
Adding: “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.”