Gayner to Become Markel’s Sole CEO on Jan. 1, 2023
Markel Corporation announced that Thomas S. Gayner, co-chief executive officer, will become sole CEO upon the retirement of Co-CEO Richard R. Whitt III on Jan. 1, ...
Richie Whitt News
Don’t Count Out InsurTech Disrupters, Carrier CEOs Say
InsurTechs bent on disrupting the insurance industry haven't succeeded so far, but a future wave of InsurTechs might emerge to accomplish a similar goal, carrier executives said recently. Speaking at ...
Carriers Will Be Slow to Raise Limits in ‘Nuanced’ Pricing Market: CEOs
Commercial insurance pricing may decline in coming months, but disciplined management of capacity will continue for a while, executives speaking at a recent industry conference said, pointing to ...
Market Conditions Holding Up Better Than Expected: Markel’s Whitt
While soaring first-quarter underwriting profits and significant investment losses may not have surprised investors in Markel Corporation, continued favorable insurance market conditions aren't quite ...
Markel Numbers ‘Thick’ on Underwriting, Investments, Ventures
Markel Corporation reported a "record-smashing" $628 million in underwriting profit for 2021, a figure that translated into a combined ratio of just over 90 for the year. Co-Chief Executive Officer ...
Markel 2021 Combined Ratio Target Of 90 Attainable, Execs Say
After reporting a combined ratio of 89 for the final quarter of 2020, Markel Corporation's co-chief executive officers believe a goal of a 90 combined for full-year 2021 is well within reach. "I feel ...
Markel Pegs Best Estimate for COVID Losses at $325M
Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential ...
Underwriting Pain, Exits Begin; Insurers Rethinking Lloyd’s
News that Lloyd's is undergoing a strategic review of its operations may be part of a larger industrywide phenomenon—reality is setting in and underwriting pain is increasing, an industry executive ...
Markel Strategy: Growing a Company ‘Built to Last’
Wall Street and financial analysts like to focus on next quarter's profits and losses. But such an approach is not always the best way to run a business for the long term, affirmed Richie Whitt, ...