Markel Insurance has named Grant Smith (pictured) as director of marine transportation at Markel International. The appointment unifies four specialty classes under a single leadership structure. Smith will lead the combined marine transportation business and report to Dan McCarthy, managing director for marine, energy, and construction.
The new role combines Markel International's hull and hull war, MECO, marine and energy liabilities, and transport and logistics classes. Markel cited the increasingly interconnected nature of marine and transportation risks as the driver of the structural change.
McCarthy cited rising risk exposures across the marine and transportation sector as the rationale. "The marine transportation industry is facing heightened risk exposures, from increasing supply chain disruptions to rising thefts at ports as geopolitical tensions escalate worldwide," McCarthy said. He added that the appointment was designed to provide brokers with more coordinated access to expertise across the combined portfolio.
McCarthy said the consolidation would give brokers and clients coordinated access to the full spectrum of marine and transportation exposures. "As these risks become more interconnected, it's increasingly important that brokers and clients can access expertise across the full spectrum of marine and transportation exposures," he said. McCarthy added that the new structure would provide deeper insight and more coordinated solutions across the portfolio.
Smith said the structure would allow clients and brokers to access more connected expertise across increasingly complex marine and transportation risks. He also said the role presented an opportunity to build on the company's underwriting discipline across the consolidated book.
Smith joined Markel in 2024 as director of marine and energy liabilities and assumed responsibility for the transport and logistics class in 2025. He brings more than 17 years of experience in marine specialty lines and underwriting leadership roles. Smith will shape strategy across multiple classes and geographies and serve as a senior point of contact for brokers, clients, and industry bodies.
In 2026, geopolitical disruption overtook traditional maritime hazards as the top risk for shipowners and cargo operators, per Allianz Commercial's Safety and Shipping Review. The June 2026 closure of the Strait of Hormuz left approximately $125 billion of vessels and cargo stranded in the Persian Gulf, per the review. Nordic insurer association Cefor reported in April 2026 that marine claims costs per vessel were 33% above pre-pandemic levels.
Smith will work closely with claims and actuarial teams to strengthen underwriting discipline and risk selection. Hull and hull war, MECO, marine and energy liabilities, and transport and logistics previously operated as separate classes within Markel International.
