Wills brings a wealth of experience to his new role, having previously served as Head of Marine for Asia-Pacific at Tokio Marine Kiln. In that capacity, he was instrumental in rebuilding the company's marine portfolio following a market exit in 2018. His extensive background also includes marine underwriting positions at Chubb Insurance and QBE.

Rory Morison, Managing Director for Australia at Markel, expressed enthusiasm about the appointment, stating how Tim's expertise makes him a valuable addition to our team, and their excitement to welcome him to Markel. This diversification into marine is a continuation of our plan to put local, empowered specialty underwriters on the ground in Australia, serving the unique needs of our customers in each jurisdiction.

The decision to expand into marine insurance aligns with global trends, as the International Union of Marine Insurance (IUMI) reports ongoing increases in global trade volumes and vessel values. By entering this market, Markel aims to address the evolving needs of Australian clients seeking comprehensive marine insurance solutions.

For individuals and businesses involved in marine activities, this development signifies increased options for tailored insurance coverage. Markel's entry into the market is expected to enhance competition and provide more comprehensive solutions for marine insurance needs.