Markel announces Steven Feng as an underwriter for Warranty and Indemnity

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Markel (MKL) appoints Steven Feng as underwriter for its Warranty and Indemnity (W&I) team, aiming to accelerate growth in the W&I portfolio. Feng brings over nine years of experience from PwC, specializing in tax risks for M&A transactions. His expertise will enhance Markel's ability to provide tailored insurance solutions for SME transactions in the UK and EEA.

MARKEL, London, Aug. 9, 2023 /PRNewswire/ -- Markel, the insurance operations within the Markel Group Inc. (NYSE: MKL), has named Steven Feng as an underwriter for its Warranty and Indemnity (W&I) team. This new arrival forms an integral part of Markel's strategy as the organisation continues to accelerate growth across its W&I portfolio.

Based at Markel's London office, Feng will report directly to Bryan Dressler, head of W&I at Markel's international insurance business, where he will be responsible for underwriting the tax risks inherent in W&I transactions. Feng's skillset complements the team's existing strengths, which include experience in multiple insurance lines, financial due diligence, and investment rationale expertise, to create a model specifically tailored for small and medium-sized enterprise (SME) transactions in the UK and European Economic Area (EEA).

Feng brings a wealth of experience to his underwriting role, having spent more than nine years at professional services firm PwC. After qualifying as an accountant in PWC's Assurance team, he spent almost five years working within the organisation's London Mergers & Acquisitions (M&A) Tax team, where he advised private equity clients on a variety of mid-market to high value transactions. During this period, he held several senior roles which included senior associate for M&A tax and M&A tax manager, respectively.

Speaking of Feng's appointment, Dressler commented: "Markel's W&I business line was established last year with the purpose of being able to systematically assess the primary pillars of W&I risk – insurance, financial, legal, and tax due diligence – to allow for a streamlined and steady experience for our brokers and insureds. Steven's background in managing tax risks in line with the cadence of M&A fits this foundation perfectly."

He concluded: "As an accomplished tax due diligence manager, Steven has the tools and focus to ask the right questions to arrive at the right insurance solutions for our clients at Markel. This will play a crucial role in our plans to continue driving profitable growth for the W&I portfolio and to harness insights from our valuable partnerships with coverholders."

About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers, and clients – that differentiates us worldwide.

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SOURCE Markel

FAQ

Who has Markel appointed as an underwriter for its W&I team?

Markel has appointed Steven Feng as an underwriter for its Warranty and Indemnity (W&I) team.

What is Steven Feng's background and expertise?

Steven Feng brings over nine years of experience from PwC, specializing in tax risks for M&A transactions.

Where will Feng be based and who will he report to?

Feng will be based at Markel's London office and will report directly to Bryan Dressler, head of W&I at Markel's international insurance business.

What is Markel's strategy with the appointment of Steven Feng?

Markel aims to accelerate growth in its W&I portfolio by leveraging Feng's expertise to provide tailored insurance solutions for SME transactions in the UK and EEA.

What is the purpose of Markel's W&I business line?

Markel's W&I business line was established to systematically assess the primary pillars of W&I risk – insurance, financial, legal, and tax due diligence – to allow for a streamlined and steady experience for brokers and insureds.

What role will Steven Feng play in Markel's plans for the W&I portfolio?

Steven Feng's expertise in managing tax risks will play a crucial role in Markel's plans to continue driving profitable growth for the W&I portfolio and harness insights from valuable partnerships with coverholders.