People Moves: Markel Names Costello as Head of Hull and War; IQUW Strengthens Property Team With 3 Senior Appointments

This edition of International People Moves details appointments at the insurer Markel and the specialty re/insurer IQUW.

A summary of these new hire follows here.

Markel, the insurance operations within Markel Group Inc., announced that Katie Costello has been named head of Hull and War in a move that will bolster the London underwriting leadership team, while positioning the Hull and War portfolio for further growth.

As part of this move, Paul Western has been promoted to head of Hull Underwriting at Markel, where he will be responsible for driving hull strategy, as well as enhancing broker relationships and developing talent within the Hull and War underwriting team.

In her new post, Costello will manage and oversee underwriting processes to ensure the team will maintain high service levels for Markel’s clients and brokers.

During her seven years at Markel, Costello has demonstrated exceptional leadership, portfolio management skills, and underwriting expertise, which led to her latest appointment, the company said. Some of her other notable achievements include building strong relationships within the market.

Akin to Western, Costello will be situated at Markel’s London office and report directly to Dan McCarthy, director of Marine at Markel.

“I am delighted to announce Katie as our new head of Hull and War at Markel. With her deep sector knowledge, dedication, and longevity within the business, Katie is perfectly poised to take our Hull and War business forward…,” commented McCarthy.

“I would also like to take this moment to congratulate Paul Western for his promotion to head of Hull Underwriting whilst maintaining his position as a senior underwriter on the War account. Since joining Markel in 2021, Paul has brought a wealth of experience and value to the team and fostered relationships with our broker partners. He is a well-respected underwriter with 30 years’ experience in the insurance industry,” he added.

Effective Jan. 1, Markel’s normal maximum lines have increased to Hull US$150 million, builders risks US$100 million, and war risks US$150 million, McCarthy said.

Markel operates the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National (its portfolio protection and program services operations) and Nephila, the company’s insurance-linked securities operations.

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IQUW Strengthens Property Team With 3 Senior Appointments

IQUW, the London-based property, commercial and specialty re/insurer, announced three senior appointments to its Property team to enhance service to brokers and support the strategic growth of the business both in London and internationally.

Mike Barrett joins IQUW as lead underwriter for Property Direct and Facultative (D&F), Jonathan Powell as senior underwriter for Property Delegated Authority (DA), and Charles Tinworth as senior property underwriter.

With over 10 years’ experience in property insurance, specializing in open market US and Canadian property risks, Barrett will be responsible for helping to shape and execute the Property D&F team’s strategy. He will be based in London and will report to Robbie MacDonald, head of Property D&F.

Powell brings over 40 years’ experience in the Lloyd’s and London insurance markets to IQUW. He will be responsible for supporting the growth and implementing IQUW’s strategy for the Property DA book. He will be based in London and will report to Tom Hennessey, head of Property DA.

Tinworth joins IQUW with over a decade of experience in the London and Lloyd’s property insurance markets. He will be based in London and will report to MacDonald.

Before joining IQUW in January 2024, Barrett was at Lockton for nearly five years in the most recent position of senior vice president of P&C Specialties. Prior to this, he was a senior broker at Prospect Insurance Brokers from 2015 to 2018.

Powell worked at Bishopsgate Insurance Brokers for three years as managing director before joining IQUW in February 2024. Before this, he was an underwriter at Neon from 2017 to 2020 and was previously an underwriter at Hiscox for more than 10 years.

Tinworth joined IQUW in January 2024 from Allianz Commercial where he was senior property underwriter from 2022 to 2024. Prior to Allianz, he held the same position at AIG for nearly two years.

About IQUW

A new property, commercial and specialty re/insurance business, IQUW’s products are distributed through Lloyd’s syndicate 1856, which provides insurance cover for aviation, cyber, cargo, crisis management, marine, political risk, energy, property, D&O, financial institutions, political violence and terror and war risks, plus reinsurance for both property treaty international and specific to the US and specialty reinsurance.

Topics Property