Double indemnity
The specialty division had its best year ever in 2009. Wayne Paternoster and Robin
Ungless, the division's new joint managing directors, will build on this success and
make Markel an even bigger hitter in the London market.
Wayne Paternoster and Robin Ungless have much to be happy about. They have recently been appointed joint managing directors of Markel International's specialty division, one of the company's best-performing businesses, and prospects for growth have never looked better.
The 18-strong speciality team is
generating more income per head than any other division within Markel International, underwriting business across insurance and reinsurance lines such as casualty and motor treaty reinsurance, property treaty reinsurance, crime and contingency.
Premium punch, innovative style
Wayne, who has been with the company since 2007, uses a boxing analogy to explain speciality's power within Markel International. "Although we're not the biggest division, pound-for-pound we're one of the heaviest hitters. That's down to the expertise and total commitment of our underwriters, and the freedom they have to develop our business and to innovate and explore new business lines."
Robin agrees, underlining the team's powerful combination of experience and
creativity. "Wayne and I have both been in this business for 20 years," he says, "and this is matched by the expertise we offer through underwriters such as Mark Warrilow, Chris Devitt and Stewart Bronitt. As a team, we have great depth and a flexible and innovative work style that means we can offer a service for nearly any niche line. That's why people keep coming to us - we know the business, and we know how to manage unusual risks."
Shared roles, common goals
Wayne and Robin have the challenge of improving on last year's record results - and they're confident they can take the specialty
business to new heights and into new areas.
"Our underwriters are leaders in their class" says Robin. "Our role is to create a working environment that will allow them to
do what they do best - manage risks and tailor insurance products to clients' needs. That's what specialty is about - understanding the marketplace, filling the insurance gaps, and keeping customers protected. It's also what has made the Markel brand so special over the last 80 years."
Talking heads: (l-r) Robin Ungless and Wayne Paternoster
Adding lines and aggregate
Wayne and Robin believe that increased aggregate and high quality service will drive the division's expansion. As Robin puts it,
"We've always been proactive in our niche, and brokers recognise that. Our future growth and success - and this is what Wayne and I will focus on - will come from
ensuring we are ready to increase our lines the moment demand is there. We must be able to react quickly, so will create a structure that is adaptable and responsive to
the market."
Saying 'yes' wherever possible
Another critical success factor is the relationship underwriters develop with brokers, and the key is the desire to help clients wherever possible, which is another aspect of being adaptable and responsive.
As Wayne puts it, "The worst thing you can say to a business associate is 'No, we can't do that'. We will always try to find a solution, even in an instance when we can't offer exactly what the client thinks they want. This level of commitment to finding a
way forward explains why we get a good showing all over the market."
Underpinning the pair's enthusiasm and confidence is a growing recognition of the Markel name in the London market - and the scale of Markel's overall business operations. While some brokers may still think of Markel International as a small Lloyd's syndicate, most now recognise that the whole is much greater than the sum of the parts.
Backed by the financial strength of Markel Corporation, and with the division's growing
reputation, there's little doubt that Wayne and Robin are leading a team that will have a big impact on specialty lines.
For more information about Markel's specialty division, please contact Wayne Paternoster at wayne.paternoster@markelintl.com or Robin Ungless at robin.ungless@markelintl.com
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