Markel International appoints Sucheng Chang to lead Asia Pacific operations

Rhea-AI Summary

Markel Insurance (NYSE:MKL) has appointed Sucheng Chang as Managing Director for Asia Pacific, effective July 14, 2025. Chang will lead Markel International's Asia Pacific operations from Singapore, overseeing offices in Australia, Hong Kong, China, India, Malaysia, and Dubai. Under its Accelerate Asia Pacific strategy, the company has achieved remarkable growth since 2019, with a 600% increase in GWP, improved underwriting profitability, and nearly 300% growth in regional employment. Chang, formerly CEO of Aon Hong Kong, brings extensive experience in scaling insurance operations across Asia Pacific, including 13 years at Liberty Mutual. He succeeds Christian Stobbs, who is transitioning to another role within Markel. The appointment aims to capitalize on opportunities in the US$300-billion GWP Asia-Pacific insurance market.

Positive

• 600% increase in Gross Written Premium (GWP) since 2019 in Asia Pacific
• 300% growth in regional employee count since 2019
• Improved underwriting profitability in Asia Pacific operations
• Strategic expansion into a US$300-billion GWP Asia-Pacific insurance market

Negative

• None.

News Market Reaction – MKL

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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. 

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SOURCE Markel

FAQ

Who is the new Managing Director of Markel International's Asia Pacific operations?

Sucheng Chang has been appointed as the new Managing Director of Markel International's Asia Pacific operations, effective July 14, 2025.

What is Markel's (MKL) growth rate in Asia Pacific since 2019?

Markel has achieved 600% growth in Gross Written Premium (GWP) and nearly 300% increase in employee count in Asia Pacific since 2019.

What is Sucheng Chang's previous experience before joining Markel (MKL)?

Chang was previously CEO of Aon Hong Kong and spent over 13 years at Liberty Mutual in roles including Chief Distribution Officer, Global Retail Markets East and CEO of Liberty Insurance Singapore.

Which countries does Markel International operate in Asia Pacific?

Markel International operates from its Singapore hub and has offices in Australia, Hong Kong, China, India, Malaysia, and Dubai.

What is the size of the Asia-Pacific insurance market that Markel (MKL) is targeting?

Markel is targeting the US$300-billion GWP Asia-Pacific insurance market.