President-CUO of Markel global reinsurance division to retire

Markel Corp. announced Wednesday that Jed Rhoads, president and chief underwriting officer of its global reinsurance division, will retire at the end of the year.

Mr. Rhoads joined Glen Allen, Virginia-based Markel in 2013 as part of the acquisition of Alterra Capital Holdings Ltd., where he was president and chief underwriting officer.

Upon Mr. Rhoads’ retirement, Don Bahr will be promoted to president, global reinsurance, and Tod Costikyan will be promoted to chief underwriting officer, global reinsurance. Both are managing directors who joined Markel as part of the Alterra acquisition. Mr. Costikyan will report to Mr. Bahr.

Markel announced in May that Richard R. Whitt III, co-CEO of Markel Corp., will retire in March 2023. On his retirement, Thomas S. Gayner, the company’s other co-CEO, will become Markel’s sole CEO.