Markel makes headway in India foray

The business will initially focus on providing treaty and facultative reinsurance to local insurers

Markel makes headway in India foray

Insurance News

By Paolo Taruc

Global insurer Markel is one step closer to setting up shop in India, as the firm announced on Monday the appointment of Deepika Mathur to lead its foray into the country.

Mathur has about 20 years-worth of experience in the country’s insurance industry. Most recently, she was executive vice president at general insurance firm HDFC Ergo, an Indian-German joint venture. Mathur lead her ex-firm’s launch of specialty insurance products, and its entry into the trade credit class. She also spent four years as head of financial products for Marsh in India.

“We have been interested in the Indian market for some time but have been waiting to find the right person to head up the business. Deepika is exactly the sort of person we were looking for. She combines a high level of technical ability with proven management and active business development experience,” said William Stovin, Markel International president.

“With a 20 year career in the market, in both underwriting and broking, she has a very strong network of local contacts, which will be valuable in supporting the growth of our business,” he added.

According to the Markel, its India business will initially focus on providing treaty and facultative reinsurance to local Indian insurers, in a broad range of commercial classes. These include casualty, financial lines, as well as contingency, event, personal accident, trade credit, and marine and energy.

Markel India awaits approval from Lloyd’s and from the regulatory authorities in India. Capacity will be provided by Markel’s Syndicate 3000 at Lloyd’s and written through the Lloyd’s India platform, based in Mumbai.

Related stories:
Markel International appoints new trade credit underwriter
New board members revealed at Markel International

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