Markel appoints new head of fine art and specie

Markel Insurance has appointed Danny O’Donoghue as its new head of fine art and specie, effective immediately.

The firm said O’Donoghue will be responsible for “leading the strategic and sustainable expansion” of the division, with duties including “identifying, assessing and underwriting complex risks across four key areas – fine art, specie, jewellers block and cash in transit”.

The incoming head joins from Talbot Underwriting, where he has spent the last four years of his career, latterly as head of fine art and specie.

His industry experience also includes a decade spent at Aspen Insurance Group, where he held a series of underwriting positions in the fine art and specie department.

The role will be based at the firm’s London offices, with O’Donoghue reporting to Dan McCarthy, Markel International’s director of marine.

Intensifying exposures

McCarthy said: “Rising asset values, a surge in high profile thefts and more frequent natural catastrophes are creating new risks while intensifying existing exposures for galleries, jewellers and private collectors.

“We’re delighted to have someone of O’Donoghue’s calibre join Markel’s fine art and specie team here in London. With his significant expertise in managing and scaling large fine art specie portfolios, we’re confident he’ll be able to take ours to new heights, elevating our leadership position in the London market.”

The new appointee added: “I’m delighted to be joining Markel in my new role as head of fine art and specie. Opportunities like this don’t come around often, but Markel really stood out to me.

“I saw strong cultural alignment, a clear and unified proposition and a well-defined strategic direction – all of which I believe are essential building blocks to continue growing the team and portfolio for years to come.”