Finance | Insurance 2023: THOMAS S. GAYNER

On Jan. 1, Gayner became Markel’s sole CEO after serving more than six years in an unusual co-CEO arrangement with Richard Whitt III, who retired after more than two decades at the Fortune 500 insurer and holding company. Gayner, also chief investment officer, joined Markel in 1990.

As CEO, Gayner oversees three divisions: insurance, investments and Markel Ventures, which owns and operates a family of independent subsidiaries ranging from luxury purse maker Brahmin to Eagle home builders.

Markel reported operating revenue of $11.7 billion in 2022 and has more than 20,000 employees worldwide, including 2,700 in Virginia. In May, the company changed its name from Markel Corp. to Markel Group to better reflect its diverse holdings.

A University of Virginia graduate, Gayner previously served as a vice president at Davenport and was a CPA for PricewaterhouseCoopers. He is also chairman of the board for Davis Series Mutual Funds, and a board director for Graham Holdings and Cable One.

In April, he and his wife, Susan, started the Gayner Family Sustainable Investment Fund and Scholarship Program, supporting students at U.Va.’s McIntire School of Commerce.