Markel International appoints Sucheng Chang to lead Asia Pacific operations
LONDON, June 9, 2025 /CNW/ -- 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
44 minutes ago
- CTV News
Global shares are mixed as investors await details from the U.S.-China trade talks
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, June 6, 2025, in Tokyo. (AP Photo/Eugene Hoshiko) HONG KONG (AP) — Global markets were mixed on Monday as investors waited to see the outcome of trade talks between Washington and Beijing in London. The futures for the S&P 500 and the Dow Jones Industrial Average were 0.1% higher. The CAC 40 in Paris lost 0.1% to 7,797.64 and Germany's DAX edged 0.4% lower to 24,210.06. The British FTSE 100 was little changed at 8,836.20. In Asian trading, Tokyo's Nikkei 225 gained 0.9% to 38,088.57 as the government reported that the Japanese economy contracted by 0.2% in the January-March quarter. In South Korea, the Kospi added 1.6% to 2,855.77. Chinese markets rose even though the government reported that exports slowed in May, growing 4.8% from a year earlier after jumping more than 8% in April. Exports to the United States fell 35% in May and nearly 10% in January-May in annual terms. China also reported that consumer prices fell 0.1% in May from a year earlier, marking the fourth consecutive month of deflation. Hong Kong's Hang Seng picked up 1.6% to 24,181.43 while the Shanghai Composite Index climbed 0.4% to 3,399.77. Australia's markets were closed for a holiday. On Friday, stocks gained ground on Wall Street following a better-than-expected report on the U.S. job market. The gains were broad, with every sector in the S&P 500 rising. That solidified a second consecutive winning week for the benchmark index, which has rallied back from a slump two months ago to come within striking distance of its record high. The S&P 500 rose 1% and the Dow industrials lost 1%. The Nasdaq gained 1.2%. Technology stocks, with their outsized values, led the broad gains. Chipmaker Nvidia jumped 1.2% and iPhone maker Apple rose 1.6%. Tesla rose 3.7%, regaining some of the big losses it suffered on Thursday when Trump and Musk sparred feverishly on social media. Circle Internet Group, the U.S.-based issuer of one of the most popular cryptocurrencies, rose 29.4%. That adds to its 168% gain from Thursday when it debuted on the New York Stock Exchange. U.S. employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump's trade war. The closely watched monthly update reaffirmed that the job market remains resilient, despite worries from businesses and consumers about the impact of tariffs on goods going to and coming from the U.S. and its most important trading partners. Hopes that Trump will lower his tariffs after reaching trade deals with other countries are a main reason the S&P 500 has rallied back so furiously since dropping roughly 20% two months ago from an all-time high. The economy is absorbing the impact from tariffs on a wide range of goods from key trading partners, along with raw materials such as steel. Heavier tariffs could hit businesses and consumers in the coming months. The U.S. economy contracted during the first quarter. Recent surveys by the Institute for Supply Management, a trade group of purchasing managers, found that both American manufacturing and services businesses contracted last month. On Tuesday, the Organization for Economic Cooperation and Development forecast 1.6% growth for the U.S. economy this year, down from 2.8% last year. The uncertainty over tariffs and their economic impact has put the Federal Reserve in a delicate position. In other trading early Monday, U.S. benchmark crude oil lost 21 cents to $64.37 per barrel. Brent crude, the international standard, gave up 23 cents to $66.24 per barrel. The U.S. dollar retreated to 144.09 Japanese yen from 144.85 yen. The euro edged higher, to $1.1426 from $1.1399. Jiang Junzhe, The Associated Press
Globe and Mail
an hour ago
- Globe and Mail
Premarket: World shares climb, dollar eases ahead of U.S.-China talks
An Asia stocks rally lifted world indexes to record highs on Monday, and the U.S. dollar pared recent gains ahead of talks in London aimed at mending a trade rift between the United States and China. MSCI's broadest index of world shares climbed 0.2 per cent to a record high of 893.88, as European indexes steadied and Asian markets closed higher. The Japanese Nikkei closed almost 1 per cent higher, China's blue-chip CSI300 Index climbed roughly 0.3 per cent, while the Shanghai Composite Index gained 0.4 per cent. Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. 'Trade policy will remain the big macro uncertainty,' said Kyle Rodda, a senior financial market analyst at 'Signs of further momentum in talks could give the markets fresh boost to kick-off the week.' U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, U.S. President Donald Trump said in a social media post. China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism. Wall Street stocks had closed sharply higher on Friday after the closely watched monthly U.S. jobs data eased concerns about damage to the world's biggest economy from Mr. Trump's unpredictable tariff regime. Sentiment was also weighed down by a standoff in Los Angeles that led to Mr. Trump calling in the California National Guard to quell demonstrations over his immigration policies. The dollar fell 0.5 per cent against the yen to 144.09, trimming its 0.9-per-cent jump on Friday. The European single currency rose 0.2 per cent to $1.1422. Sterling traded at $1.3568 , up almost 0.4 per cen=t. U.S. job growth slowed in May by less than had been forecast, data showed on Friday. But dour economic readings from China added to evidence the trade war is taking a toll. China's export growth slowed to a three-month low in May, while factory-gate deflation deepened to its worst level in two years, separate reports showed on Monday. Attention now turns to U.S. inflation data on Wednesday that may adjust expectations for the timing of any rate cuts by the Federal Reserve. The Fed is in a blackout period ahead of its June 18 policy decision. 'Markets have entered a tactical pause following a strong May, but beneath the surface, fragilities are building,' said Bruno Schneller, managing director at Erlen Capital Management, noting that the U.S. CPI release is expected to show another rise, signaling that inflation remains sticky. 'While this may offer some near-term support for the U.S. dollar, broader macro dynamics – notably fiscal expansion, rising structural deficits, and political unpredictability – are increasingly clouding the outlook for both rates and currencies,' he said. Gold rose around 0.35 per cent to US$3,322 per ounce after a 1.3-per-cent fall on Friday. U.S. crude fell 16 cents to US$64.42 a barrel following a 1.9-per-cent surge late last week. Reuters
Globe and Mail
an hour ago
- Globe and Mail
5 Monster Stocks to Hold for the Next 10 Years
With the stock market settling in after a volatile period, now is a good time to start looking at some leading growth stocks that have strong potential over the next decade. Here are five growth stocks across industries that investors can look to hold for the long term. 1. Taiwan Semiconductor Manufacturing Taiwan Semiconductor Manufacturing (NYSE: TSM) is one of the most critical players in the artificial intelligence (AI) boom. As the world's leading contract chip manufacturer, TSMC manufactures the advanced semiconductors powering a range of products from AI infrastructure to smartphones and automotive tech. Producing these chips isn't easy, as it requires leading-edge technology, precision manufacturing, and scale. Few companies in the world have the capabilities or the track record that TSMC does, and with competitors struggling, it has also garnered strong pricing power. As such, the company has become the go-to partner for top chip designers, thanks to its leadership in advanced nodes and packaging. Advanced nodes refer to manufacturing processes that allow more transistors to be packed onto a chip, which in turn boosts performance and power efficiency. Meanwhile, demand for high-performance computing, including AI chips, has exploded. With AI workloads growing, TSMC is expanding capacity alongside key customers to meet future demand. Despite its pivotal role in the AI supply chain, TSMC's stock still looks reasonably valued. For long-term investors looking to benefit from the continued growth in AI infrastructure and semiconductors in general, TSMC is a great stock to hold. 2. Pinterest Pinterest (NYSE: PINS) has undergone a quiet but powerful transformation under CEO Bill Ready. Over the past three years, the company has invested heavily in technology to turn its massive user base, which now sits at more than 570 million monthly active users worldwide, into a growth engine. Pinterest is no longer just an online vision board; it's become a shoppable platform with growing ad conversion capabilities. One of the big drivers behind Pinterest's transformation has been its embrace of AI. The company built a multimodal model trained on both images and text to better understand what users are looking for. This powers personalized recommendations, while a visual search feature makes it easier for users to find and shop for products they see in pinned images. On the backend, meanwhile, its Performance+ platform is giving advertisers the tools to run better campaigns. The results speak for themselves. Last quarter, Pinterest's revenue jumped 16%. Average revenue per user (ARPU) climbed across all regions, especially outside the U.S., where Pinterest is starting to better monetize users in emerging markets through the help of a partnership with Google. Pinterest's stock still looks attractively valued, and the company is just scratching the surface of monetizing its user base. With AI-powered tools and a more shoppable platform, Pinterest has solid long-term investment potential. 3. Dutch Bros Dutch Bros (NYSE: BROS) is shaping up to be one of the most compelling expansion stories in the restaurant space. With just over 1,000 locations across 18 states, the company believes it can more than double its footprint to 2,029 shops by 2029, and it sees the opportunity to eventually support 7,000 coffee shops nationwide. Meanwhile, its small, drive-thru-focused shops are inexpensive to build, have attractive unit economics, and offer fast payback periods. What makes the story even more attractive, though, is that Dutch Bros is only now starting to unlock other key growth levers. Mobile ordering, for example, is still early but gaining traction, accounting for only 11% of transactions last quarter. Mobile ordering also feeds into its loyalty program, allowing it to personalize its marketing and promotions. The company is also leaning into food, testing hot items to drive breakfast sales at a few select locations. Food currently makes up less than 2% of sales, compared to nearly 20% at Starbucks, so there's real upside here. With more menu expansion and store openings on the way, Dutch Bros looks like a long-term winner. 4. Philip Morris International Philip Morris International (NYSE: PM) is a growth stock in a defensive industry. While many tobacco companies are struggling with declining cigarette volumes in the U.S., Philip Morris doesn't have to worry about that because it doesn't sell cigarettes domestically. Instead, its growth is being driven by its smokeless portfolio, led by Zyn and Iqos, both of which have better unit economics than traditional cigarettes. Zyn, its fast-growing nicotine pouch, has been its biggest growth driver, as evidenced by U.S. shipment volumes jumping 53% in Q1. Meanwhile, Iqos, its premium heated tobacco product, continues to gain traction in Europe and Japan, with early success in new markets like Mexico City, Jakarta, and Seoul. In addition, after buying back its U.S. rights from Altria, the U.S. has the potential to be its next big growth driver. At the same time, its traditional cigarette business remains stable overseas, helped by strong pricing power and steady demand. With strong pricing power, local manufacturing that limits tariff exposure, and growing demand for Zyn and Iqos, Philip Morris looks well positioned to keep delivering strong growth in the future. 5. Eli Lilly Eli Lilly (NYSE: LLY) has emerged as a leader in the booming GLP-1 drug space, with surging demand continuing to drive strong revenue growth. Last quarter, its two key GLP-1 drugs -- Mounjaro and Zepbound -- generated a combined $6.1 billion in revenue, up sharply year over year. While Zepbound is officially approved by the Food and Drug Administration (FDA) for weight loss in obese adults or overweight adults with at least one weight-related condition, and Mounjaro is approved to help adults with type 2 diabetes, the reality is that the growth of these drugs is being driven by their being prescribed off-label for weight loss. However, the drug that could be the biggest game changer for Lilly is still on its way. Orforglipron, its first oral GLP-1 drug candidate, recently demonstrated in a phase 3 trial that patients who took the drug lost considerable weight. As an oral medication, it is a much more convenient alternative to injectable GLP-1 drugs, making it especially appealing to patients who are wary of needles. Orforglipron is also easier to manufacture and distribute than injectable drugs, as it doesn't require cold storage or injection pens. This should help Lilly avoid the supply constraints it saw with its injectable GLP-1 portfolio. With orforglipron looking like it has the potential to be the most potent oral GLP-1 weight loss drug on the market, Lilly is well positioned for continued future growth. Should you invest $1,000 in Taiwan Semiconductor Manufacturing right now? Before you buy stock in Taiwan Semiconductor Manufacturing, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Taiwan Semiconductor Manufacturing wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Geoffrey Seiler has positions in Philip Morris International and Pinterest. The Motley Fool has positions in and recommends Pinterest and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Dutch Bros and Philip Morris International. The Motley Fool has a disclosure policy.
