Markel Corporation has appointed Julia Chu to the newly created role of chief risk officer.

In her new role, Chu will be responsible for Markel’s enterprise risk management, capital planning, and ceded reinsurance placements – functions that Markel says serve a “critical role” in managing insurance risk.

As chief risk officer, Chu will report to Markel chief financial officer Jeremy Noble. She will be based in Markel’s corporate headquarters in Richmond, VA.

Chu was previously serving as Markel’s chief global ceded reinsurance officer – a role she served since March 2018. Prior to joining Markel, she was managing director at Guy Carpenter & Co., and was a vice-president at Aon Re. Chu is also a former principal at Farmers Insurance Group.

"This appointment reflects the contributions Julia has made to our enterprise risk management framework. She has played a key role in further developing and implementing Markel's ceded reinsurance strategy and has been instrumental in positioning our reinsurance placements and partnering with executive leadership to build and protect Markel's capital," commented Jeremy Noble.