Markel Strengthens Excess Casualty Team with Key Promotions
Markel has announced strategic moves to bolster its excess casualty team in the Southeast Region, signaling a commitment to growth and efficiency. The changes involve the promotion of Nan Fine and the appointment of Hillary Warren, effective immediately.
Nan Fine (pictured) has been promoted to Managing Director, Casualty, Southeast Region, Markel Specialty. In her new role, Fine will oversee various casualty lines, including healthcare risk solutions, primary casualty, and excess casualty. These lines will now report directly to her. Fine will, in turn, report to Steve Girard, Regional President, Southeast Region.
Girard commented on Fine’s promotion, stating, “Nan has already been focusing on refreshing and revising our strategy and direction for excess casualty in the Southeast Region, as we reshape and redefine our culture, appetite and organizational structure. Longer term, Nan will continue her efforts to streamline our product delivery between primary and excess.”
Adding to the team’s strength, Hillary Warren has been appointed Manager for Commercial Wholesale Excess Casualty, Southeast Region. In her new position, Warren will guide the strategic direction of the excess portfolio and manage wholesale relationships. She will report to Fine.
Girard emphasized his confidence in the new structure, saying, “The experience and expertise of these two strong leaders will help us continue to grow our region’s excess casualty business in both the near and long term.”
Positive Financial Performance
The appointments follow a successful year for Markel Group. The company reported operating revenue of $16.62 billion for the year ended December 31, 2024, a rise from $15.80 billion the previous year. Earnings per share also increased, reaching $199.32 compared with $146.98 a year ago.
CEO Tom Gayner noted that the company exceeded its targets for the year, driven by robust returns from its public equity portfolio, continued expansion in Ventures, and noteworthy performance in other insurance business areas.
At the close of 2024, the company’s investments, cash, and cash equivalents, and restricted cash totaled $34.2 billion, up from $30.9 billion at the end of 2023.
Furthermore, in February, the company reorganized its US professional liability products into four categories, following an evaluation aimed at enhancing underwriting efficiency and consistency.
