Markel Reports New Management Structure

RICHMOND, Va., May 10, 2010 /PRNewswire via COMTEX/ --At its Annual Meeting today, Markel Corporation (NYSE: MKL) reported that a new management structure had been approved by its Board of Directors at a meeting earlier in the day.

The members of the Office of the Chairman and their roles are unchanged. Alan I. Kirshner will continue as Chairman and Chief Executive Officer, and Anthony F. Markel and Steven A. Markel will serve as Vice Chairmen.

Reporting to them will be a three-member Office of the President. Thomas S. Gayner will be President and Chief Investment Officer, while F. Michael Crowley and Richard R. Whitt, III will each be President and Co-Chief Operating Officer.

Mr. Gayner has served as Markel's Chief Investment Officer since 2001. He will continue to be responsible for the Company's investment portfolio and will also serve as President of Markel Ventures, Inc., which manages the Company's affiliated investment activities.

Mr. Crowley joined the Company in February 2009 as President, Markel Specialty. Before that, he served as President of Willis HRH North America and of Hilb Rogal & Hobbs Company. Reporting to Mr. Crowley will be Markel's Wholesale and Specialty Insurance Operations; its Product Line Group; and Human Resources.

Mr. Whitt has been Markel's Chief Financial Officer since 2005. He will oversee the Company's Markel International operation as well as the Finance, Administration, Actuarial and Legal functions.

Gerard Albanese, who will report to Mr. Crowley, was promoted to Executive Vice President and Chief Underwriting Officer. Mr. Albanese has served as Chief Underwriting Officer since 2009 and before that was President of Markel International.

Anne G. Waleski, who has been Markel's Treasurer since 2003, will succeed Mr. Whitt as Chief Financial Officer, and Nora N. Crouch, Controller since 2003, will become Chief Accounting Officer.

Commenting on the new management structure at the meeting, Steven A. Markel said: "The members of the Office of the Chairman are pleased to continue our engagement with the Company while at the same time congratulating the members of the Office of the President and welcoming them to their new roles. Tom Gayner, Mike Crowley and Richie Whitt have all proved extremely capable of meeting the challenges of our business, are well equipped to succeed as leaders of our Company and are assuming roles that give each of them the opportunity to use his talents to the fullest on your behalf. We and they are comfortable with the new management structure, which provides us with a vehicle for both short- and longer-term management succession and continues the matrix management model that has served us well at Markel in the past."

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