Markel Launches CORE Property Offering for US Energy Sector and Appoints New Leadership

Markel Insurance is expanding its footprint in the US energy sector with the launch of its Chemical, Oil & Gas related Energy Property (CORE) offering. For brokers and carriers, this move signals a strategic push into the mid-market energy space, providing up to $50 million in capacity for complex onshore risks facing heightened natural catastrophe and operational exposures.

What was announced

The launch of the Chemical, Oil & Gas related Energy Property (CORE) offering marks a significant expansion of Markel’s US First-Party Energy capabilities. This new solution is specifically engineered for small to midsize US-domiciled businesses operating within the energy value chain. The scope of the CORE product is broad, covering sectors such as industrial organic chemicals, petrochemicals, and natural gas transmission and storage. It also extends to terminals, gas processing, and various midstream and downstream operations.

Under the leadership of Candice Walker, the newly appointed Head of First-Party Energy, the CORE team will provide tailored coverage for property damage and business interruption. For specific risks, the offering also includes equipment breakdown protection. A critical component of the CORE product is its provision for natural catastrophe exposures, including flood, windstorm, and earthquake. Markel is offering limits of up to US$50 million for these risks, available on both a primary and excess-of-loss basis.

To support the technical demands of this portfolio, Michael McClain has joined the team as Senior Underwriter – Energy. Based in Texas, McClain will focus on the midstream and downstream portfolios, utilizing his background in technical operations to guide the assessment and pricing of complex onshore engineered risks. Walker will work closely with Markel International’s existing Midstream and Downstream teams to deliver these solutions to the US market.

"Energy businesses are navigating a complex risk landscape, driven by increasing natural catastrophe events, operational disruptions and a challenging economic environment. Our new product offering provides US-based brokers and clients with a tailored solution, designed around their evolving risk exposures, while offering greater access to Markel's specialist underwriting, claims and engineering expertise through a long-term, committed partner."

Candice Walker, Head of First-Party Energy at Markel.

The companies involved

Markel Insurance is the insurance operation within Markel Group Inc. (NYSE: MKL), a global holding company that provides specialty insurance, reinsurance, and investment products. The organization’s insurance business is known for its focus on niche markets and complex risks that require specialized underwriting knowledge. Within the broader corporate structure, Markel Insurance SE serves as a key entity, maintaining a significant presence in European markets through its base in Germany and its digital platform at markel.de. Historically, the parent group has built a reputation for a decentralized operating model, allowing its various insurance units to maintain deep expertise in specific sectors like environmental, casualty, and marine.

The launch of the CORE offering represents a further refinement of this specialist approach within the US market. By leveraging the global reach of the Markel Group, the insurance operation can provide significant capacity while maintaining the localized service levels expected by mid-market brokers. The company has a long history of transitioning internal talent, such as the promotion of long-standing senior underwriters like Candice Walker to lead new product developments, ensuring continuity in underwriting discipline across its diverse first-party and third-party portfolios.

What FF News has reported before

FF News has previously tracked Markel’s strategic moves to bolster its specialist divisions and data capabilities. In September 2026, the publication reported on the appointment of Markel Appoints Nick Rugg to Lead Financial Institutions and Fintech Insurance Division, a move that signaled a similar focus on niche, high-expertise sectors. This followed news that Markel Insurance Strengthens Marine Transportation Unit with Senior Leadership Appointments, reinforcing the carrier's commitment to first-party asset protection. Furthermore, the company’s focus on underwriting precision was highlighted when Markel Partners with Verodat to Transform Delegated Data Management and Underwriting Insights. These reports collectively illustrate a broader corporate strategy of combining specialized human expertise with enhanced data management to serve complex industrial and financial markets.

What this means from an insurtech perspective

From an insurance perspective, the launch of CORE highlights the necessity of integrating deep domain engineering expertise directly into the underwriting process. By recruiting a Senior Underwriter with a background in technical operations from the energy sector, Markel is addressing the challenge of pricing volatile risks in an era of frequent natural catastrophes. This move puts pressure on generalist carriers who may lack the granular data to accurately model midstream and downstream exposures. For the industry, it underscores a shift where capacity alone is no longer a differentiator; instead, technical risk engineering is becoming the standard for maintaining loss ratios in high-hazard sectors.