The appointment forms part of US insurance company’s aim to expand its trade credit portfolio. Credit: Andrii Yalanskyi/Shutterstock.

Markel has hired Sebastian Rice as the senior underwriter and head of business development for Europe. 

The move forms part of the US insurance company’s aim to expand its trade credit portfolio.  

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Rice has been working for over two decades in the industry and will operate out of Markel’s London office. He will spearhead the company’s growth initiatives across European markets. 

His role will encompass supporting key global client relationships and exploring new territories for portfolio growth.  

He will also focus on building and maintaining long-term broker partnerships while highlighting the advantages of Markel’s trade credit insurance policies. 

Rice joins Markel from QBE Europe, where he latterly was the commercial underwriting head. Earlier, he had stints at Allianz Trade and Atradius. 

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Rice will report to Markel International senior underwriter and head of portfolio – global – trade credit Phil Amlot. 

Commenting on Rice’s appointment, Amlot said: “We are delighted to welcome Sebastian to the Trade Credit team. His arrival illustrates Markel’s commitment to trade credit and recruiting market-leading underwriting talent, so we can continue serving brokers in an efficient and timely manner.

“Sebastian’s energy and feedback from brokers in our market has always been extremely positive, so I am looking forward to seeing him apply the same energy and his personal approach at Markel, which will strengthen our position as a leading [excess of loss] XoL trade credit insurance provider.” 

Last month, Markel appointed Lisa Mitchell as its new head of claims in Australia. 

In November 2023, Markel said that its subsidiary State National Companies will commence operations in the UK from this month.