Markel has announced the promotion of Nan Fine (pictured left) to managing director, Casualty, Southeast Region, Markel Specialty, and the appointment of Hillary Warren (pictured right) as manager for commercial wholesale excess casualty, Southeast Region.
In her new role, Fine will oversee casualty lines, including healthcare risk solutions, primary casualty, and excess casualty, which will all now report to her. She will, in turn, report to Steve Girard, regional president, Southeast Region.
“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,” Girard said, commenting on Fine’s appointment. “Longer term, Nan will continue her efforts to streamline our product delivery between primary and excess.”
Meanwhile, Warren will guide the strategic direction of the excess portfolio and manage wholesale relationships. She will report to Fine.
“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,” Girard said.
It was a positive 2024 for Markel Group, as the company reported operating revenue of $16.62 billion for the year ended Dec. 31, 2024, up from $15.80 billion a year earlier. Earnings for the year were $199.32 per share, compared with $146.98 per share a year ago.
CEO Tom Gayner said the company exceeded its targets last year, with strong returns from its public equity portfolio, continued growth in Ventures and notable performance in other areas of its insurance business.
At the end of 2024, the company said it had $34.2 billion in investments, cash and cash equivalents and restricted cash, higher than the $30.9 billion it had the year earlier.
In February, the company said its insurance operations reorganized its US professional liability products into four categories, following an evaluation on how to improve underwriting efficiency and consistency.
