The new office plans to work closely with a regional network of independent brokers
Markel Corporation has opened a new branch office in Paris to support SMEs in the French market.
The move is part of the insurer’s longstanding strategy to further expand and scale the company’s global footprint in key specialty insurance markets.
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.
Geier said: “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.
“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.”
Leveraging broker relationships
Geier and Tinturier 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 a website.
The team aims to replicate the success of Markel’s operations in Spain, which was established in 2005, the Netherlands – established in 2011 - and Germany, which was established in 2013.
Collectively, these locations have more than 135,000 insureds, 6,500 broker partners, $150m (£109m) turnover and 130 employees.
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.”