markel corp (MKL) Key Developments
Wilkinson to Become Markel's Singapore Claims Director
Jun 22 15
Starting in August, Wilkinson will become the first point of contact for all Markel claims via the insurer's offices in Hong Kong, Labuan and Singapore; he will continue to be based in Singapore. He had moved to Asia in July 2013 from Australia to help grow Triton's business in the region. Before joining
Triton six years ago, Wilkinson had worked for 10 years as a senior in-house counsel and as a solicitor in a private practice.
Markel Corporation Appoints Mike Clancy as Chief Operating Officer Effective June 15, 2015
May 28 15
Markel Corporation announced that Mike Clancy has been named Chief Operating Officer, Markel Claims, effective June 15, 2015. In Clancy's new position, he will be based in Richmond, Virginia and report to Nick Conca, Chief Claims Officer. Clancy will focus primarily on accelerating efforts to improve the customer experience and manage the relationship between claims and underwriting teams. To support these initiatives he will be leveraging Markel's data and analytics capabilities, driving process improvement efforts, and applying technology to make the claims process easier to navigate. Clancy joined Markel in January 2012 as a Managing Director. In his current role, he has partnered with leadership teams across Markel's divisions, departments, and the Office of the President to focus on creating business efficiencies and developing tools and resources to support operating discipline.
Markel Corporation Announces Retiring of Cathryn Curia as Managing Director, North American Property Reinsurance Effective August 1, 2015
May 18 15
Markel Corporation announced that Cathryn Curia, managing director, North American Property Reinsurance, is retiring effective August 1, 2015. Curia has been in the reinsurance industry for the past 46 years. She joined Markel as part of the Alterra acquisition in May 2013. Curia served in a similar capacity for Alterra, having joined the company in 2005.
Markel Corp. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 6 15
Markel Corp. announced consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company diluted net income per share was $13.49 compared to $6.25 for the first quarter of 2014. Total operating revenues grew 5% to $1.3 billion in the quarter from $1.2 billion in 2014. The increase is driven by higher revenues from Markel Ventures. EBITDA was $34 million in 2015 compared to $14 million in 2014. The company reported net income to shareholders of $191 million in the quarter compared to $88 million a year ago. Book value per share at the end of March 2015 was $564, an increase of 4% since the end of 2014. Net cash provided by operating activities was $23 million for the quarter compared to $22 million for the same period of 2014.
Markel Corporation Announces Management Changes in Global Reinsurance Operations
Apr 29 15
Markel Corporation has announced that Jed Rhoads, president and cuo of Markel Global Reinsurance, has assigned the following responsibilities to the divisional management team. Andrew Barnard, managing director, and Peta White, managing director, will co-head Global Reinsurance operations in Markel's Hamilton, Bermuda office. Barnard leads the international property and retro business, and White leads the North American property business. Additionally in Bermuda, Erik Manning, managing Director, leads the alternative market initiatives and development. Don Bahr, managing director, and Tod Costikyan, managing director, will co-head Global Reinsurance operations in Markel's Summit, New Jersey office. Bahr leads the casualty reinsurance segment that includes general liability, professional liability, non-standard auto, and medical malpractice. Costikyan leads the areas of specialty reinsurance to include workers compensation, surety, energy, trade credit, confiscation, marine, aviation, public entity, aviation/satellite, and agriculture. Also based in the Summit office, Steve Leitz has been promoted to chief Administrative officer for Markel's Global Reinsurance operations. Rhoads will split his time between the Bermuda and Summit offices. The company announced the upcoming retirement of Dave Kalainoff, Global Reinsurance division, effective 1st June 2015.