Mr. Crowley joined the company in 2009 as president, Markel Specialty. Before that, he served as president of Willis HRH North America and of Hilb Rogal & Hobbs Company. Reporting to Mr. Crowley will be Markel's Wholesale and Specialty Insurance Operations; its Product Line Group and human resources.

Mr. Whitt has been Markel's chief financial officer since 2005. He will oversee the Company's Markel International operation as well as the finance, administration, actuarial and legal functions.

Gerard Albanese, who will report to Mr. Crowley, was promoted to executive vice president and chief underwriting officer. He has served as chief underwriting officer since 2009 and before that was president of Markel International.

Anne G. Waleski, who has been Markel's Treasurer since 2003, will succeed Mr. Whitt as CFO.

Nora N. Crouch, controller since 2003, will become Chief Accounting Officer.

The management reorganization does not affect Alan I. Kirshner, who will continue as chairman and chief executive officer, and Anthony F. Markel and Steven A. Markel, who continue to serve as vice chairmen.

In a statement, Steven A. Markel said, the management structure "provides us with a vehicle for both short- and longer-term management succession and continues the matrix management model that has served us well at Markel in the past."

Last week, the company reported net income for the first quarter increased 163 percent over the same period last year, or $27 million, to $43 million primarily on the strength of improved investment income. Earnings per share rose $2.67 from $1.67 last year to $4.34

The company recorded earned premiums dropped $45 million to $412 million, while investment gains stood at $16 million versus a loss of $55 million for the same period last year.

Underwriting results in the quarter were hurt with a combined ratio of 101 compared to 95 for the same period last year. The combined ratio included approximately $17 million, or 4 points, of underwriting loss on the Chilean earthquakes that occurred earlier this year, the company said.