’The UK MGA market is underserved and we’re intent on building a leading programme services division in the UK,’ says chief executive
Markel Group has revealed that its US subsidiary State National Companies will be entering the UK next year to provide capacity to managing general agents (MGAs).
In a statement released yesterday (28 November 2023), Markel said its international insurance arm would help State National launch a new division on 1 January 2024 that will focus on supporting specialty lines commercial programmes.
The division will bring together State National’s experience and Markel’s balance sheet, existing regulatory framework and operational controls.
“The UK MGA market is underserved and we’re intent on building a leading programme services division in the UK,” Matt Freeman, chief executive and president of State National, said.
“The new division is a great example of Markel’s power of the platform, combining State National’s 40-plus years of program services experience with Markel’s well-established insurance company in the UK.”
As part of the move, Markel’s Rob Whitt will lead the new division as executive director of State National Global.
Whitt currently serves as managing executive for corporate development, with him being responsible for the insurance operations’ mergers and acquisitions (M&A) activity.
He also looks after product development focused on linking Markel’s insurance, reinsurance, programmes service and insurance linked securities capabilities.
“Working across Markel, Rob has driven the effort to establish State National Global with its programme services expertise in the UK market,” Freeman added.
“We’re excited to be partnering with our UK colleagues to leverage the strategic offerings that Markel has assembled and the capabilities we have to support our customers worldwide.”