Markel Insurance, a division of US-based Markel Group Inc, has announced the appointment of Joanna Quigan as senior underwriter for its professional and financial risks (PFR) division in Australia.
Quigan will focus on expanding Markel’s professional indemnity portfolio, particularly within Victoria, and will report to Kym Beazleigh, head of professional and financial risks.
In her new position, Quigan is tasked with managing and enhancing underwriting strategy for both renewals and new submissions in the PFR segment. Based in Melbourne, she will also contribute to broader efforts aimed at building out Markel’s underwriting reach in key Australian markets.
Beazleigh commented that Quigan’s expertise supports the company’s strategic effort to grow its Victorian portfolio.
“Joanna’s appointment marks another milestone in our plan to hire strong talent across our three offices in Australia. She brings a wealth of product, management, and strategic experience,” he said. “With Joanna coming on board, we now have a fully empowered underwriting team in Victoria across our core product lines of management liability, financial institutions, and professional indemnity. We really look forward to the impact Joanna will have on the market.”
The Australian appointment follows Markel’s announcement in June that Sucheng Chang will assume the role of managing director for the Asia-Pacific region, effective July 14.
Chang will be responsible for business operations across multiple jurisdictions, including Australia, and will lead broker relations and underwriting initiatives regionally.
Chang takes over from Christian Stobbs, who will continue with Markel in a different leadership capacity outside the Asia-Pacific portfolio.
These appointments come shortly after the group reported its financial results for Q1 2025.
Operating income and revenue were down year-on-year, which the company attributed to unrealised equity losses in its investment portfolio.
Under US GAAP accounting, these valuation changes are reflected directly in net income.
Despite market headwinds, the group recorded an 8% increase in net investment income due to higher interest rates and larger allocations to fixed-income instruments.
Underwriting performance included US$80.6 million in catastrophe losses from January wildfires in southern California, contributing four points to the group’s combined ratio.
No catastrophe losses were reported in the same quarter last year. When excluding the wildfire losses, the group noted an improvement in its combined ratio, driven by more favourable reserve development.
