Specialty insurer names co-CEOs

Markel Corp. on Friday said it has named President and Chief Investment Officer Thomas S. Gayner and President and co-Chief Operating Officer Richard R. Whitt III as co-CEOs.

President and co-Chief Operating Officer F. Michael Crowley will serve as the sole president.

The appointments are effective Jan. 1.

Mr. Gayner will oversee Markel's investment portfolio and noninsurance operating companies, known as Markel Ventures, Markel said in a statement.

Mr. Whitt will oversee Markel's international insurance and reinsurance operations and its underwriting, finance, actuarial, claims, information technology, legal and administrative functions.

Mr. Crowley will continue to oversee Markel's global insurance, specialty and wholesale operations and its marketing, human resources and strategic management functions, Markel said in the statement.

“Markel is a company 'built to last.' The unanimous decision taken by the Board of Directors today to appoint Tom and Richie as co-CEOs … sets the stage for Markel's future,” Alan I. Kirshner, Markel's chairman and CEO, said in the statement.