Assurant vs Markel: Founders, CEOs and History
Assurant was founded in 1892 by Founders of La Crosse Mutual Aid Association and is led by Keith Demmings. Markel was founded in 1930 by Samuel A. Markel and is led by Thomas Gayner.
Company facts
Founders
Assurant
Founders of La Crosse Mutual Aid Association
The La Crosse Mutual Aid Association was established to provide disability insurance to consumers. It was later licensed as the Time Insurance Company in 1910 and evolved into a Wisconsin health and disability underwriter.
Markel
Samuel A. Markel
Samuel A. Markel started Markel in Norfolk, Virginia, in 1930. He formed the Mutual Casualty Association and the Mutual Casualty Company to cover jitney buses, a hard-to-insure class of early shared passenger vehicles.
CEOs and their tenures
Assurant
- J. Kerry Clayton2004–2006
Former Chief Executive Officer
Led Fortis, Inc. through its February 2004 initial public offering and rebranding as Assurant, Inc. and ran the company for its first two years as an independent listed insurer.
Source - Robert B. Pollock2006–2014
Former President and Chief Executive Officer
Ran Assurant through its first decade as an independent specialty insurer, holding together a portfolio that spanned health, employee benefits, prearranged funeral insurance and lender-placed property.
Source - Alan B. Colberg2015–2021
Former President and Chief Executive Officer
Took Assurant out of health insurance and employee benefits and rebuilt it around lifestyle and housing protection, then bought the scale to make that work.
Source - Keith W. Demmings2022–present
President and Chief Executive Officer
Has run Assurant as a two-segment protection company, pushing it further into device repair, trade-in and resale while growing the lender-placed housing book.
Source
Markel
- Alan I. Kirshner1986–2015
Chairman and Chief Executive Officer
He led its growth into a specialty insurer with an investment-led model. Tom Gayner and Richie Whitt became co-chief executives at the start of 2016 and Kirshner stayed as executive chairman.
Source - Thomas S. Gayner2016–present
Chief Executive Officer
Joined Markel in 1990 and ran its public equity investments for decades. He was Co-CEO from 2016 to 2022 and has been sole CEO since 2023, overseeing insurance, investments and the operating businesses.
Source - Richard R. Whitt III2016–2022
Co-Chief Executive Officer
Shared the CEO role with Tom Gayner until the end of 2022.
Source - Simon Wilson2025–present
Chief Executive Officer, Markel Insurance
Previously President of Markel International; appointed in March 2025 to lead Markel Specialty, Markel International and Global Reinsurance as Markel Insurance.
Source
Timeline: Assurant and Markel side by side
1892Assurant
La Crosse Mutual Aid Association formed
Assurant traces its history to the La Crosse Mutual Aid Association, established in La Crosse, Wisconsin in 1892 to provide consumers with disability insurance. No founder of the association is named in the company own histories.
1910Assurant
Licensed as Time Insurance Company
The Wisconsin Office of the Commissioner of Insurance records Time Insurance Company, the successor to the La Crosse Mutual Aid Association, as originally licensed as an insurer in 1910.
1930Markel
Founded in Norfolk, Virginia
Samuel A. Markel forms the Mutual Casualty Association and Mutual Casualty Company to insure jitney buses.
1978Assurant
N.V. AMEV of the Netherlands buys Time Insurance
Dutch insurer N.V. AMEV acquired Time Insurance Company through its US holding company, AMEV Holdings, Inc., then expanded it by buying American Security Insurance, United Family, Western Insurance Company and Superior Insurance over the next 12 years.
1986Markel
Initial public offering
Markel Corporation goes public; the same era produced 'The Markel Style', the company's written statement of values.
1991Assurant
AMEV Holdings renamed Fortis, Inc.
After AMEV combined with VSB Groep NV in 1990 to create Fortis, the US holding company AMEV Holdings, Inc. was rebranded Fortis, Inc. in 1991. It acquired John Alden in 1998.
1997Markel
NYSE Listing
Markel moved its listing to the New York Stock Exchange in 1997.
1999Assurant
Fortis acquires American Bankers Insurance
Fortis, Inc. bought American Bankers Insurance Group of Miami, adding credit insurance and specialty warranty underwriting that became the core of the modern specialty lines. Fortis sold its life insurance business to The Hartford in 2001.
2000Markel
Terra Nova acquisition
Markel acquires Terra Nova (Bermuda) Holdings, adding a London market and Lloyd's platform that became Markel International.
2004Assurant
NYSE listing as Assurant, Inc.
Fortis took the US business public on February 5, 2004 in a $1.76 billion initial public offering, the fourth largest of that year, and renamed it Assurant, Inc. The company was incorporated as a Delaware corporation in 2004 and trades as AIZ.
2005Markel
Markel Ventures begins
Markel starts buying controlling stakes in non-insurance businesses, beginning with AMF Bakery Systems, the base of what became Markel Ventures.
2006Assurant
Robert B. Pollock succeeds J. Kerry Clayton as CEO
Founding chief executive J. Kerry Clayton retired on March 17, 2006 and was succeeded by Robert B. Pollock, then president and chief operating officer, who also joined the board that day.
2013Assurant
New York consent order on force-placed insurance
Assurant, American Security Insurance Company and American Bankers Insurance Company of Florida settled a New York Department of Financial Services investigation into force-placed homeowners insurance on March 21, 2013, paying a $14 million penalty plus homeow…
2013Markel
Alterra Capital acquisition
Markel completes its roughly $3.1 billion acquisition of Bermuda-based Alterra Capital Holdings, adding reinsurance and broadening its global specialty lines.
2015Assurant
Exit from health insurance and employee benefits
On June 10, 2015 Assurant announced it would leave the health insurance marketplace and wind down Assurant Health, and on September 9, 2015 it agreed to sell its employee benefits business to Sun Life for $940 million.
2015Markel
CATCo Acquired
Markel bought the reinsurance fund manager CATCo Investment Management in December 2015.
2016Markel
Richard R. Whitt III becomes CEO
Richard R. Whitt III became CEO of Markel Group in 2016. Shared the CEO role with Tom Gayner until the end of 2022.
2017Markel
State National and Nephila
Markel agrees to buy fronting and program-services specialist State National (closed 2017) and, in 2018, insurance-linked securities manager Nephila.
2018Assurant
The Warranty Group acquisition closes
Assurant completed its purchase of The Warranty Group from TPG Capital on May 31, 2018 for a total enterprise value of about $2.5 billion, expanding vehicle service contracts and international retail protection. Assurant also sold Time Insurance in 2018.
2020Assurant
HYLA Mobile acquisition closes
Assurant closed its acquisition of smartphone trade-in and upgrade provider HYLA Mobile on December 1, 2020, in a transaction the company valued at about $325 million, roughly doubling its device processing volumes.
2021Assurant
Global Preneed sold to CUNA Mutual Group
Assurant closed the sale of its prearranged funeral and final expense business to CUNA Mutual Group on August 2, 2021 for about $1.35 billion, generating roughly $1.2 billion of net proceeds, and said it intended to return about $900 million of that through sh…
2022Assurant
Keith Demmings becomes CEO and headquarters moves to Atlanta
Keith W. Demmings became president and chief executive officer in January 2022, succeeding Alan B. Colberg, who retired at the end of 2021 after seven years in the role.
2023Markel
Renamed Markel Group; Gayner sole CEO
Thomas S. Gayner becomes sole CEO after Co-CEO Richard Whitt retires, and shareholders approve the Markel Group Inc. name.
2024Assurant
iSmash acquired in the United Kingdom
Assurant acquired UK tech repair retailer iSmash on April 4, 2024, giving it 68 drop-in repair locations in the UK under the iSmash and Pocket Geek Tech Repair banners. Assurant also sold its mainland China operations during 2024.
2025Assurant
FY2025 revenue of $12.81B and the OptoFidelity purchase
Assurant reported FY2025 revenue of $12.81 billion and GAAP net income of $872.7 million, its ninth consecutive year of profitable growth, launched Assurant Home Warranty, and in October 2025 acquired OptoFidelity mobile device test automation portfolio to add…
2025Markel
Insurance reorganization and reinsurance exit
Simon Wilson is named CEO of Markel Insurance in March, and in August Markel completes the sale of its Global Reinsurance renewal rights to Nationwide. FY2025 operating revenue reaches $15.513 billion.
2026Assurant
RL Circular Operations acquired in Australia and New Zealand
In January 2026 Assurant acquired RL Circular Operations, formerly TIC Reverse Logistics, the reverse logistics division of Australia and New Zealand based TIC Group, extending its post-purchase and circular economy capabilities across Asia Pacific.
2026Markel
Q2 2026 results
Q2 operating revenues of $4.0 billion; Markel Insurance combined ratio of 93% and adjusted operating income up 40% to $376 million.
Acquisitions
Assurant
- RL Circular Operations2026Undisclosed
- OptoFidelity mobile device test automation portfolio2025Undisclosed
- iSmash2024Undisclosed
- HYLA Mobile2020$325M
- The Warranty Group2018$2.5B
- Lifestyle Services Group2013$172M
Markel
- Nephila Holdings2018Undisclosed
- State National Companies2017$919M
- Alterra Capital Holdings2013$3.1B
Questions about Assurant vs Markel
Who is the CEO of Assurant, Inc. and Markel Group Inc.?
Assurant, Inc. is led by Keith Demmings and Markel Group Inc. is led by Thomas Gayner. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Assurant, Inc. founded vs Markel Group Inc.?
Assurant, Inc. was founded in 1892 — 38 years before Markel Group Inc., which was founded in 1930. Assurant, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Markel Group Inc..
How many employees does Assurant, Inc. have compared to Markel Group Inc.?
Assurant, Inc. employs approximately 14,800 people, while Markel Group Inc. employs approximately 22,900. Markel Group Inc. has the larger workforce at 22,900 employees, compared to Assurant, Inc.'s 14,800. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Assurant, Inc. and Markel Group Inc. headquartered?
Both Assurant, Inc. and Markel Group Inc. are headquartered in United States. Their local rules and tax obligations may still differ.
Who founded Assurant, Inc. and Markel Group Inc.?
Assurant, Inc. was founded by Founders of La Crosse Mutual Aid Association. Markel Group Inc. was founded by Samuel A. Markel.
Which company has a longer operating history — Assurant, Inc. or Markel Group Inc.?
Assurant, Inc. has been operating for approximately 134 years, making it the more established of the two companies. Markel Group Inc. has been in operation for around 96 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Assurant vs Markel overview