“Serving as co-CEO of Markel and spending the overwhelming majority of my profession with this unbelievable firm has actually been an honour,” said Whitt, who will stay in a consulting position for a seamless transition after he steps down lower than a year from now.
“It has been a privilege working along with Tom on behalf of the entire Markel household. I’m excited for the intense future that lies forward for Markel, and I couldn’t be extra assured in turning over the reins to Jeremy to steer the insurance coverage engine going ahead.”
The outgoing boss, whose earlier positions embrace president and chief working officer, led the corporate in a number of acquisitions resembling that of Alterra, Nephila, and State Nationwide.
Chairman Steven A. Markel had this to say: “On behalf of the board, government management crew, and staff at Markel, we wish to thank Richie for his management and dedication to Markel for over three many years.
“All through his profession at Markel, Richie has represented Markel’s tradition and values, particularly honesty, equity, and the zealous pursuit of excellence, which has led to the transformation of the insurance coverage enterprise into a worldwide chief. Now we have by no means been in a stronger place.”
The group has three profit-producing engines – insurance coverage, investments, and Markel Ventures.
Commenting on his time with Whitt, Gayner famous: “Richie and I’ve been working facet by facet for over 30 years to construct Markel into one of many world’s nice corporations, and I be part of with the remainder of the Markel household in thanking him for his partnership.
“Over this time, we’ve grown from working with about 300 colleagues to over 20,000, and all through that point Richie has all the time risen to the event, main with integrity and willpower all through. Collectively, we congratulate him on a outstanding profession and thank him for his invaluable contributions to Markel.”
Gayner, other than completely taking the helm, will even proceed serving as chief funding officer.
“Tom’s appointment as sole CEO upon Richie’s retirement next year displays his glorious management and stewardship of Markel over the previous six years as co-CEO,” added the corporate’s chair. “From the time my grandfather began the enterprise within the Thirties till right this moment, evolution has been key to our enduring success.
“Tom’s imaginative and prescient has enabled Markel’s continued evolution into the worldwide holding firm it’s right this moment. We’re grateful for Tom’s dedication to Markel and stay up for him changing into CEO of our firm.”
In the meantime, along with the adjustments in 2023, Markel Ventures president Michael R. Heaton is assuming the newly created position of Markel government vp with instant impact. At Markel Ventures, he will likely be changed by Andrew Crowley.
As for Noble’s successor as Markel CFO, a recruitment course of is already underway. Noble, who brings greater than twenty years of expertise, will likely be taking care of the insurance coverage, reinsurance, programme providers, and insurance-linked securities companies following Whitt’s departure.
