Markel International’s marine & energy division, which has grown to be the biggest unit at the specialist insurer, has been split into two standalone businesses. Effective January 01, Chris Fenn will and Julian Samuel will serve as managing directors of the separate units. Meanwhile marine & energy executive director Paul Jenks, who steered the original division’s journey to reach around US$400 million in gross written premium, will continue to play a critical role in further growth. “As we plan for the long-term success of our international, London-based businesses, the new structure will give Chris and Julian and their teams the responsibilities for continuing the profitable development of their businesses,” said president William Stovin. Aside from the standalone marine and energy divisions, Markel’s London wholesale businesses also include the specialist and financial lines headed by James Hastings.
Markel International has announced plans to split its marine and energy division into two distinct businesses. The company said it would sell off the oil business in a deal that will be completed by early next year. The company announced that Chris Fenn and Julian Samuel will serve as heads of the respective operations.