INSIDE VIEW
William Stovin, Markel International's president and
chief operating officer, reflects on 2011.
This year has been characterised by unprecedented catastrophe activity, with losses felt universally across our
industry. Despite this, 2011 has still been very productive for us. As we push for diversification both by territory and by product, we have continued to grow premium income, added new teams and opened offices in more territories.
Barcelona, Hong Kong, Rotterdam and Beijing are all new points on the map. The first two are the result of growth in Spain and Asia respectively – both existing regions for us – while the recent opening of a Rotterdam office signals the start of our operation in the Dutch marketplace. In March, the Chinese authorities gave us permission to open a representative office in Beijing, which will help to build our knowledge and reputation in mainland China. We also expanded our business in Stockholm through the
acquisition of Globen Försäkringar, giving us a broader spread of products and a wider distribution network.
Our divisions have seen some key developments such as the expansion of trade credit business in Asia Pacific through the appointment of Abhishek Chhajer, who is now building a regional offering out of Singapore, and the launch of an online direct-to-market service called Markel Direct. As reported in the last issue of Market Matters, our retail business now has an international focus.
It's also been a very important year for our global image, with a consistent brand being developed for Markel International and Markel Corporation. For the first time, we have a uniform visual identity and a single brand idea to complement our history and culture. A conspicuous result is our growing commitment to sponsorship, highlighted by the sporting connections on these pages, which is helping to spotlight the brand and raise our profile.
If there's one prediction for 2012 that I can make with confidence, it's this: you are sure to see our name in many more places.
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