Markel Group Inc, the international insurer and reinsurer with operations in Bermuda, has appointed Mike Heaton as executive vice-president and chief operating officer.

In this expanded role, the company said, he will oversee the day-to-day operations of the holding company and continue developing the system that supports Markel Group's family of companies.

Among those companies are eight island-based entities that are licensed by the Bermuda Monetary Authority, including Class 4 insurer Markel Bermuda Ltd.

The parent company said Mr Heaton has a substantial track record supporting the businesses in Markel Group.

Most recently, he was executive vice-president, where he led the transformation from Markel Corporation to Markel Group Inc by establishing a more formal holding company identity, structure and team.

Mr Heaton previously served Markel Ventures as president, and before that as chief operating officer.

"Mike has been by my side for close to two decades now," said chief executive Tom Gayner.

"He is an incredible operator and thought partner who played a huge role in building the team, structure and processes that made Markel Group into a great home for businesses.

“Operating with this level of autonomy, accountability and love for our companies is not easy, but the system that Mike and the team created, and will continue to evolve, makes it possible."

As executive vice-president and chief operating officer, the company said, Mr Heaton will oversee the day-to-day operations for Markel Group with an intentional focus on three core priorities: pursuing the best capital allocation opportunities, attracting and supporting top company leaders, and amplifying the cultural values in the “Markel style”.

He will continue to report to Mr Gayner from Markel Group's global headquarters in Glen Allen, Virginia.

Mr Heaton said: "There is always more work to be done, but I really do think that we can be the best home in the world for businesses.

"A place where people with shared values have the space and support that they need to win.

“To have the opportunity to help build something like this is the honour of a lifetime, and I'm going to give everything I can to make it happen."