RICHMOND, Va., Jul 10, 2003 /PRNewswire-FirstCall via COMTEX/ -- Markel Corporation (NYSE: MKL) announced Gerry Albanese has been appointed President and Chief Operating Officer and Richie Whitt Executive Vice President and Chief Administrative Officer of Markel's U.K. based subsidiary, Markel International. Both appointments take effect from 1 September 2003.
Tony Markel, President and Chief Operating Officer of Markel Corporation, commented:
"These are important appointments for us and they are made following an extensive review of both internal and external candidates. We knew what we wanted. We sought individuals who could embrace the Markel Style of management; believe in and preach the Markel culture of underwriting profitability; and provide the leadership necessary to take the outstanding team that we now have at Markel International to the next level. Both Gerry and Richie have proven track records of profitability and consistent contributions to our bottom line. We are confident that this talented partnership will enable us to build upon the excellent achievements of our UK operation, which have been recognized in the recent upgrade to A- by A M Best."
Gerry Albanese joined Markel Corporation's North American subsidiary, Shand Morahan and Company, in 1984 as Product Line Manager in the Insurance Company Errors & Omissions department. Since 1996, he has served as Chief Underwriting Officer at Shand Morahan.
Richie Whitt assumed his current position as Vice President, Treasurer and Controller of Markel Corporation in January 2001, having joined Markel in 1991 after beginning his business career at KPMG in Richmond.
Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. In each of these markets, the Company seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting profits and superior investment returns to build shareholder value.
SOURCE Markel Corporation
Bruce A. Kay of Markel Corporation, +1-804-747-0136