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Markel, the insurance operations within Markel Group, has tapped former AXA XL talent to expand its footprint within the North American fine art market.
Kyle McGrath (pictured) has joined Markel as its head of fine art for North America. In her new role, McGrath will be responsible for driving the expansion of the business and developing the regional underwriting strategy, product offering and regional footprint. Operating from Markel’s New York office, McGrath will report to Dan McCarthy, Director of Marine at Markel in London.
McGrath, with more than 12 years of industry experience, joins from Private Client Select (formerly AIG Private Client Group), where she spent three years as vice president and head of fine art and collections for the insurer’s private client group. Prior to that, McGrath spent seven years at AXA XL, working in various senior roles in the organisation’s North American fine art and specie team and global chief underwriting office.
McCarthy commented: “The global fine art insurance market is expanding, driven largely by an increase in the individual and institutional collector base in the US. Meanwhile, rising art valuations and a changing risk landscape for collectors make having the right risk and insurance partner more important than ever before. I’m therefore delighted to welcome Kyle to Markel. Her knowledge and experience of working in the fine art insurance market will be of enormous benefit to our existing clients as we support them in meeting their specific risk(s) and insurance needs.”
McCarthy added: “At the same time, we see significant potential for profitable growth in this space. I’m confident that Kyle has the right leadership qualities to develop our regional Fine Art team and insurance offering and enhance our reputation as we look to become a leading Fine Art and Specie insurer in North America.”
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