LONDON, Sept. 13, 2021 /PRNewswire/ --Markel Corporation (NYSE: MKL) announced today that it has opened a new branch office in Paris to support small and medium-sized enterprises (SMEs) in the French market.
The move is part of a longstanding strategy to further expand and scale the company's global footprint in key specialty insurance markets. Toward that end, Markel will partner with a regional network of independent brokers to offer three core product lines tailored for French SMEs: professional indemnity, cyber risk, and directors and officers liability.
The Paris office will be led by Franziska Geier, Country Manager, and Laura Tinturier, Underwriting Director, who plan to drive growth by leveraging local broker relationships and simplifying liability insurance for SMEs with easy-to-understand wordings and streamlined documents, processes, and website. With this office, the team aims to replicate the success of Markel's operations in Spain (established in 2005), the Netherlands (established in 2011), and Germany (established in 2013), which have collectively grown to more than 135,000 insureds, 6,500 brokers, $150 million turnover, and 130 employees.
"At Markel, we've learned that success in new markets hinges on our ability to tailor our expertise and offerings to the unique local needs of our customers and brokers," says Geier. "We know that doing business in Paris will not be the same as London, Munich, New York, or Singapore. And while we can make use of the lessons and best practices that we have learned around the world, we are ultimately a global company powered by local relationships and expertise."
Geier added: "We are looking forward to meeting the French brokers with whom we will work hand-in-hand to provide customers with quality, tailor-made insurance products."
Markel Corporation is a diverse financial holding company serving a variety of niche markets. The company's principal business markets and underwrites specialty insurance products. In each of the Company's businesses, it 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 and operating profits and superior investment returns to build shareholder value. Markel® is a registered trademark of the Markel Corporation. Visit Markel on the web at markel.com.