Markel has announced that Neil Galjaard (pictured above, left) will step down from his position as managing director of Markel UK.
In line with this, the company announced that Lee Mooney (pictured above, right) will succeed Galjaard as the leader of its UK regional business, subject to regulatory approval. Mooney is expected to assume the role toward the end of June.
Galjaard has led Markel UK since 2016. During his tenure, the company’s revenue has increased by 200%, and profitability has improved. Under his leadership, the insurer was recognised as the number one provider of service in commercial lines.
Galjaard also oversaw the development of a five-year strategy focused on strengthening Markel’s relevance to distribution partners and clients in the UK regional market. He decided to step down after determining that his personal plans would not allow him to remain in a full-time role for the duration of the strategic plan.
Henrik Bjornstad, managing director – national markets at Markel International, said Galjaard’s impact on the National Markets UK business has been significant.
“Under his leadership we have been voted the number 1 insurer for service in Commercial Lines three times and we have tripled in size while improving profit levels. The transformation he has helped to achieve, and the development of the new five-year strategy, mean we couldn't be better positioned for future success,” Bjornstad said.
Galjaard’s successor, Mooney, brings more than 25 years of industry experience from RSA, where he held several leadership roles. Most recently, he served as managing director for RSA UK&I’s commercial lines business, overseeing a portfolio exceeding £1 billion in premiums and leading over 1,000 employees across the UK.
In his new role at Markel, Mooney will be based in Leeds and report to Bjornstad.
"Lee is a strategic business leader with credible experience in a range of areas that form part of our UK business and vision for future success. He also has a fantastic reputation with brokers and distribution partners. I've no doubt he'll build on the strong foundations already in place and deliver on the next phase of our profitable growth ambitions,” Bjornstad said.
The leadership change comes as Markel Group continues to report strong financial results. In 2021, Markel Group posted a 194% increase in net income, reaching $2.4 billion. The company’s underwriting profits also rose substantially, with a 392% gain to $628 million.
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