Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), has announced that Rob Cole has joined the company as chief actuarial officer.
Markel, known for its diverse insurance and reinsurance products, has strengthened its leadership team with the addition of Cole, an industry veteran with extensive experience in actuarial science and pricing.
Markel specialises in a wide range of insurance and reinsurance solutions, offering coverage for both niche markets and standard risks. The company is renowned for its innovative approach and commitment to providing tailored insurance products to its clients.
Cole brings a wealth of expertise to his new role at Markel. Prior to joining Markel, he spent 24 years at AIG, where he most recently served as chief actuary for global pricing.
Throughout his tenure at AIG, Cole held multiple leadership positions both in the UK and the US, focusing on pricing and reserving across various insurance products.
In his new role, Cole will succeed Ron Herrig, who is set to retire at the end of 2024 after a distinguished 28-year career with Markel. Herrig has been instrumental in shaping Markel’s actuarial function and will support a smooth transition over the coming months.
Commenting on the appointment, Markel chief financial officer Brian Costanzo said, “He has a deep level of expertise in partnering with underwriting and claims functions, as well as the executive leadership required to manage and build cohesive global teams. We are confident he will build upon our strong actuarial foundation while continuing to enhance our capabilities.
“We are grateful for Ron’s many contributions in leading and evolving Markel’s actuarial function over the years,” Costanzo continued. “Ron will play an integral role in supporting a smooth leadership transition over the coming months.”
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