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Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers. -
Its full-year combined ratio for 2024 ballooned to 334.6%, from 124.7% in 2023.
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The underwriter will be based in New York and drive underwriting strategy.
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Markel also announced the appointment of Jon Michael to its board.
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The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
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The insurance industry has experienced mounting losses from severe convective storms.
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She replaces Matt Westhoff, who left in October to lead QBE NA.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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The Democratic senator said increased federal oversight of insurance is not the answer.
