This move marks the first time Markel has expanded its offerings in Australia beyond the long-tail lines it introduced two years ago. The decision aligns with the company's strategy to place local, empowered specialty underwriters on the ground to serve the unique needs of customers in each jurisdiction.
Tim Wills brings a wealth of experience to his new role. Prior to joining Markel, he served as Head of Marine in Asia Pacific at Tokio Marine Kiln, where he was responsible for rebuilding the portfolio following the company's brief exit from the market in 2018. His extensive background also includes marine insurance roles at Chubb Insurance and QBE.
Rory Morison, Managing Director for Australia at Markel, expressed enthusiasm about Wills' appointment, highlighting his expertise as a valuable addition to the team. Morison emphasised that this diversification into marine insurance is a continuation of Markel's plan to provide specialised underwriting services tailored to the Australian market.
The expansion comes at a time when global trade volumes and vessel values are on the rise, as noted in the latest annual Stats Report by the International Union of Marine Insurance. This trend underscores the growing demand for comprehensive marine insurance solutions.
For Australian boat owners and marine operators, Markel's entry into the marine insurance sector offers an additional option for securing tailored coverage. The company's commitment to providing expert support and comprehensive policies aligns with the needs of those seeking reliable and specialised marine insurance services.
