Markel International appoints Sucheng Chang to lead Asia Pacific operations
LONDON, June 9, 2025 /PRNewswire/ — Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has appointed Sucheng Chang as its new Managing Director for Asia Pacific, with effect from 14 July.
In his new role, Chang will head up Markel International's Asia Pacific business, which operates from its regional hub in Singapore and from offices in Australia, Hong Kong, China, India, Malaysia and Dubai. He will be responsible for leading the strategic direction of the business, centered on maximizing profitable growth and delivering exceptional client and broker service.
Markel International's Asia Pacific business has witnessed significant expansion in recent years, following investment made as part of its Accelerate Asia Pacific strategy. Since 2019, GWP has increased by approximately 600%, underwriting profitability has improved and the number of employees in the region has increased by nearly 300%.
Chang will take over from Christian Stobbs, who earlier this year announced his decision to leave the Asia Pacific region, remaining with Markel in another role.
Commenting on Chang's appointment, Andrew McMellin, President of Markel International, said: 'Sucheng is a highly strategic and well-respected leader within the Asia Pacific market, and I'm thrilled that he's joining Markel to lead our regional business in the next phase of its development. The Accelerate Asia Pacific strategy is a cornerstone of the profitable growth agenda at Markel International. I've no doubt that Sucheng's leadership qualities and his significant experience of scaling insurance operations in Asia will help us to build on this momentum as we push it forward to even greater success.'
Chang added: 'Markel has made huge inroads in Asia Pacific and today is a well-respected insurance partner to clients and trading partners in the region, renowned for its focus on exceptional service and customer outcomes. I therefore couldn't be more excited to lead the next phase of the expansion of Markel's Asia Pacific business, building on the progress that's been made to expand our presence even further and take advantage of the opportunities available in the US$300-billion GWP Asia-Pacific insurance market.'
Chang arrives at Markel with significant experience scaling insurance operations across the Asia Pacific, most recently as Chief Executive Officer, Hong Kong, for Aon. Prior to joining Aon, Chang spent more than 13 years at Liberty Mutual in strategic roles, including Chief Distribution Officer, Global Retail Markets East and Chief Executive Officer of Liberty Insurance Singapore. He holds an MBA from Yale University and BA from Boston University.
About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
Logo – https://mma.prnewswire.com/media/2090808/Markel_primary_logo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/markel-international-appoints-sucheng-chang-to-lead-asia-pacific-operations-302476009.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
No tensions with New Zealand, says Xi
High-table diplomacy: Luxon (second from right) meeting Xi (not pictured) at the Great Hall of the People in Beijing. — AFP The leaders of China and New Zealand discussed the role of trade in boosting ties, while New Zealand also pressed its interests for peace and security in the Pacific, government statements showed. President Xi Jinping and Prime Minister Christopher Luxon met in the capital's Great Hall of the People yesterday as China's influence grows in the Pacific, challenging the traditionally stronger security foothold many Western nations have had there. On his first visit to China since taking office in November 2023, Luxon discussed the need for stability, less tension in the Indo-Pacific and New Zealand's 'enduring support for Pacific-led priorities', his government said in a statement. Luxon's meeting with the leader of New Zealand's biggest trade partner was 'constructive', he said in a post on X. 'We discussed the depth of the New Zealand-China relationship – from trade and people-to-people ties to our shared global responsibilities,' he said. 'In a complex world, open dialogue is more important than ever.' Luxon also backed up the role of the Pacific Islands Forum, an inter-government body seeking to foster cooperation among Oceanic countries and territories. Without making specific reference to any issue, Xi called for both countries to seek common ground and view differences 'accurately', state news agency Xinhua said. 'There are no historical grudges or conflicts of interest between China and New Zealand, so we should respect each other, seek common ground,' Xi told Luxon, it said, adding that both must precisely tackle disagreements. During his four-day visit to the commercial hub of Shanghai and the capital, Beijing, Luxon has championed an agenda of boosting business, travel and education for New Zealand. Xi also talked about deepening trade and investment ties, as well as scope to work on science and technology, climate change response and infrastructure along with education exchanges – echoing most of Luxon's goals. Luxon documented his meetings on Instagram, posting video messages to fellow citizens reinforcing his mission of getting 'money into your back pocket'. He clinched travel-related pacts and pushed New Zealand's tertiary education as well as its exports of meat, a key item of trade with China after dairy. Chinese tourists are New Zealand's third-largest group of international visitors, though official data show their numbers are still nearly a fifth lower than in 2019 before the Covid-19 pandemic. China Eastern Airlines will launch more flights with New Zealand from December, New Zealand said on Wednesday. Days before the visit, New Zealand unveiled a 12-month trial of visa waivers from November for Chinese passport holders arriving from Australia with valid visas from its neighbour. — Reuters
The Star
2 hours ago
- The Star
Shares slip, oil rises as investors weigh Iran risks
SYDNEY: Shares slipped in Asia on Monday and oil prices briefly hit five-month highs as investors anxiously waited to see if Iran would retaliate against U.S. attacks on its nuclear sites, with resulting risks to global activity and inflation. Early moves were contained, with the dollar getting only a minor safe-haven bid and no sign of panic selling across markets. Oil prices were up around 2.8%, but off their initial peaks. Optimists were hoping Iran might back down now its nuclear ambitions had been curtailed, or even that regime change might bring a less hostile government to power there. "Markets may be responding not to the escalation itself, but to the perception that it could reduce longer-term uncertainty," said Charu Chanana, chief investment strategist at Saxo. "That said, any sign of Iranian retaliation or threat to the Strait of Hormuz could quickly shift sentiment and force markets to reprice geopolitical risk more aggressively." The Strait of Hormuz is only about 33 km (21 miles) wide at its narrowest point and sees around a quarter of global oil trade and 20% of liquefied natural gas supplies. Analysts at JPMorgan also cautioned that past episodes of regime change in the region typically resulted in oil prices spiking by as much as 76% and averaging a 30% rise over time. "Selective disruptions that scare off oil tankers make more sense than closing the Strait of Hormuz given Iran's oil exports would be shut down too," said Vivek Dhar, a commodities analyst at Commonwealth Bank of Australia. "In a scenario where Iran selectively disrupts shipping through the Strait of Hormuz, we see Brent oil reaching at least $100/bbl." Goldman Sachs warned prices could temporarily touch $110 a barrel should the critical waterway be closed for a month. For now, Brent was up a relatively restrained 1.8% at $78.42 a barrel, while U.S. crude rose 1.9% to $75.26. Elsewhere in commodity markets, gold edged down 0.1% to $3,363 an ounce. KEEP CALM AND CARRY ON World share markets were proving resilient so far, with S&P 500 futures off a modest 0.3% and Nasdaq futures down 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.0%, while Chinese blue chips dipped 0.2%. Japan's Nikkei eased 0.6%, though surveys showed manufacturing activity there returned to growth in June after nearly a year of contraction. EUROSTOXX 50 futures lost 0.4%, while FTSE futures fell 0.3% and DAX futures slipped 0.5%. Europe and Japan are heavily reliant on imported oil and LNG, whereas the United States is a net exporter. The dollar edged up 0.3% on the Japanese yen to 146.50 yen , while the euro dipped 0.2% to $1.1500. The dollar index firmed marginally to 98.958. There was also no sign of a rush to the traditional safety of Treasuries, with 10-year yields rising 2 basis points to 4.395%. Futures for Federal Reserve interest rates were a tick lower, likely reflecting concerns a sustained rise in oil prices would add to inflationary pressures at a time when tariffs were just being felt in U.S. prices. Markets are still pricing only a slim chance the Fed will cut at its next meeting on July 30, even after Fed Governor Christopher Waller broke ranks and argued for a July easing. Most other Fed members, including Chair Jerome Powell, have been more cautious on policy leading markets to wager a cut is far more likely in September. At least 15 Fed officials are speaking this week, and Powell faces two days of questions from lawmakers, which is certain to cover the potential impact of President Donald Trump's tariffs and the attack on Iran. The Middle East will be high on the agenda at a NATO leaders meeting at the Hague this week, where most members have agreed to commit to a sharp rise in defence spending. Among the economic data due are figures on U.S. core inflation and weekly jobless claims, along with early readings on June factory activity from across the globe. - Reuters
Malay Mail
2 hours ago
- Malay Mail
Markets jittery as Iran tensions lift oil, weigh on global shares
Asian stock markets: Oil up 1.5 per cent, but off early highs, after US strikes Iran Wall Street futures dip, waiting to see how Iran reacts Dollar up on yen, but no broad rush to safety as yet SYDNEY, June 23 — Major share indexes slipped in Asia today and oil prices briefly hit five-month highs as investors anxiously waited to see if Iran would retaliate against US attacks on its nuclear sites, with resulting risks to global activity and inflation. Most of the market moves were restrained, with the dollar getting a modest safe-haven bid and no sign of a rush to bonds. Oil prices were up around 1.5 per cent, but well off their initial peaks. Optimists were hoping Iran might back down now that its nuclear ambitions had been curtailed, or even that regime change might bring a less hostile government to power there. 'Markets may be responding not to the escalation itself, but to the perception that it could reduce longer-term uncertainty,' said Charu Chanana, chief investment strategist at Saxo. 'That said, any sign of Iranian retaliation or threat to the Strait of Hormuz could quickly shift sentiment and force markets to reprice geopolitical risk more aggressively.' The Strait of Hormuz is only about 33 km wide at its narrowest point and sees around a quarter of global oil trade and 20 per cent of liquefied natural gas supplies. Analysts at JPMorgan also cautioned that past episodes of regime change in the region typically resulted in oil prices spiking by as much as 76 per cent and averaging a 30 per cent rise over time. 'Selective disruptions that scare off oil tankers make more sense than closing the Strait of Hormuz given Iran's oil exports would be shut down too,' said Vivek Dhar, a commodities analyst at Commonwealth Bank of Australia. 'In a scenario where Iran selectively disrupts shipping through the Strait of Hormuz, we see Brent oil reaching at least US$100/bbl (RM428/bbl).' Goldman Sachs warned prices could temporarily touch US$110 a barrel should the critical waterway be closed for a month. For now, Brent was up a relatively mild 1.4 per cent at US$78.07 a barrel, while US crude rose 1.4 per cent to US$74.88. Elsewhere in commodity markets, gold edged down 0.3 per cent to US$3,357 an ounce. Keep calm and carry on World share markets were proving resilient so far, with S&P 500 futures off just 0.1 per cent and Nasdaq futures down 0.2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.0 per cent, while Chinese blue chips dipped 0.2 per cent. Japan's Nikkei eased 0.2 per cent, though surveys showed manufacturing activity there returned to growth in June after nearly a year of contraction. EUROSTOXX 50 futures lost 0.4 per cent, while FTSE futures fell 0.3 per cent and DAX futures slipped 0.4 per cent. Europe and Japan are heavily reliant on imported oil and LNG, whereas the United States is a net exporter. The dollar gained 0.7 per cent on the Japanese yen to 147.07 yen , while the euro dipped 0.2 per cent to US$1.1497. The dollar index firmed marginally to 99.042. There was also no sign of a rush to the traditional safety of Treasuries, with 10-year yields rising 2 basis points to 4.395 per cent. Futures for Federal Reserve interest rates were a tick lower, likely reflecting concerns a sustained rise in oil prices would add to inflationary pressures at a time when tariffs were just being felt in US prices. Markets are still pricing only a slim chance the Fed will cut at its next meeting on July 30, even after Fed Governor Christopher Waller broke ranks and argued for a July easing. Most other Fed members, including Chair Jerome Powell, have been more cautious on policy leading markets to wager a cut is far more likely in September. At least 15 Fed officials are speaking this week, and Powell faces two days of questions from lawmakers, which is certain to cover the potential impact of President Donald Trump's tariffs and the attack on Iran. The Middle East will be high on the agenda at a Nato leaders meeting at the Hague this week, where most members have agreed to commit to a sharp rise in defence spending. Among the economic data due are figures on US core inflation and weekly jobless claims, along with early readings on June factory activity from across the globe. — Reuters
