Markel, the insurance operations of Markel Group Inc., announced that its wholly owned subsidiary State National Companies is entering the UK market, effective Jan. 1, 2024.
State National, the largest program services carrier in the U.S., is partnering with Markel International Insurance Co. Ltd. to create a program services division to serve UK managing general agents (MGA). The new division will focus on supporting specialty commercial lines programs.
“There is a meaningful growth opportunity supporting the creation of a program 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 underserved, and we’re intent on building a leading program 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 program services experience with Markel’s well-established insurance company in the UK,” he added.
“When complete, we believe Markel launching a division focused on program services will bring much-needed capabilities to the market and help us better support the MGAs in the UK,” commented Simon Wilson, president, Markel International.
Markel’s Rob Whitt will lead the new division as executive director, State National Global, subject to regulatory approval. A 28-year veteran of Markel, 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, programs service and insurance linked securities capabilities. Prior to his current role, Whitt served in a number of finance and operational roles with increased responsibilities, giving him deep knowledge and understanding of Markel’s global insurance operations.
“Working across Markel, Rob has driven the effort to establish State National Global with its program services expertise in the UK market,” Freeman continued. “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.”
About State National Companies
State National Companies Inc. operates in two niche markets across the U.S. In its Lender Services segment, the company specializes in providing portfolio protection solutions that insure autos, mortgages, and other collateral for loans made by credit unions, banks, and specialty finance companies. In its Program Services segment, the company provides access to the U.S. property/casualty insurance market in exchange for ceding fees.
Source: Markel
Topics New Markets Insurance Wholesale
Was this article valuable?
Here are more articles you may enjoy.
‘Great Resignation’ Enters Third Year as Workers Embrace AI, Upskilling, PwC Says 
Three Charged With Helping Agents Cheat on Florida Insurance License Exams 
GEICO Tops Progressive With Higher J.D. Power Scores 
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
