Markel Surety, a part of Markel Corp.’s Markel’s Specialty division, has increased its capacity offering to $500 million for the most qualified accounts with the establishment of a National Accounts segment.
This segment will be led by Michael Bond, who joined Markel on December 31. Bond previously held roles as the U.S. head of Surety for both Euler Hermes and Zurich Surety.
The target market for the National Accounts segment includes contractors with larger program needs up to $500 million, co-surety accounts, reverse-flow business, and Fortune 2000 commercial accounts. Markel Surety’s Core Accounts segment will continue to be led by Lindey Jennings, chief underwriting officer, Markel Surety, and will include its legacy business.
Mike Keimig, president and CEO, Markel Surety division, said Markel will remain a market that provides options for lower-limit accounts.
Markel Surety also expanded its branch network with new office locations in Red Bank, New Jersey; Chicago; and Sacramento, California; along with additional underwriting resources in Baltimore and Dallas.
Markel Corporation is a diverse financial holding company serving a variety of niche markets.
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