Markel Corp. announced that Simon Wilson will become the next president of Markel International, a wholly owned subsidiary. He will succeed William Stovin who has led the Markel International division since 2008.
The transition is part of a planned succession that will fully take effect no later than Jan. 1, 2022, pending regulatory approval.
Wilson joined Markel in 2010 to spearhead international business development. He was the primary architect of the National Markets division with operations in Europe and Canada, which profitably grew from $121 million to $402 million in annual gross written premium over the last decade.
Wilson currently serves as the managing executive of Global Strategy for Markel. Prior to joining Markel, he led the Lloyd’s Asia platform in Singapore.
Wilson will work from the London office and report to Robert Cox, president and chief operating officer of Insurance Operations for Markel. Stovin will remain with the company in an advisory capacity into next year.
Stovin joined Markel as part of the acquisition of Terra Nova Holdings Ltd. in 2000. The deal was part of a long-term strategy to expand Markel’s footprint beyond North America to become a global player in specialty insurance. Toward that end, Stovin played a leading role in helping Markel expand to more than 60 insurance offices in 16 different countries. Under Stovin’s leadership, gross written premiums profitably increased at a compound annual growth rate of roughly seven percent more than doubling the size of the division.
“Our global expansion was one of the most important decisions in Markel’s history, and William deserves significant credit for making it a success,” commented Cox.
“His disciplined approach to profitably growing our wholesale business while also establishing and expanding our international retail operations has laid the foundation for tremendous growth in the future, and I’m confident that Simon will leverage this foundation to successfully lead our international operations in achieving our profitable growth goals,” he added.
Source: Markel Corp.
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