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Last $823.75 USD
Change Today -8.19 / -0.98%
Volume 60.7K
MKL On Other Exchanges
Symbol
Exchange
New York
Berlin
Mexico
As of 4:15 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

4521 Highwoods Parkway

Glen Allen, VA 23060

United States

Phone: 804-747-0136

Fax: 804-965-1600

Markel Corporation operates as a financial holding company. The company’s principal business markets and underwrites specialty insurance products. It also owns interests in various industrial and service businesses that operate outside of the specialty insurance marketplace. The company owns Alterra Capital Holdings Limited (Alterra), a Bermuda-headquartered global enterprise providing various specialty property and casualty insurance and reinsurance products to corporations, public entities, and other property and casualty insurers. Segments The company operates through three segments: U.S. Insurance, International Insurance, and Reinsurance. U.S. Insurance segment This segment includes both hard-to-place risks written outside of the standard market on an excess and surplus lines (E&S) basis and unique and hard-to-place risks that must be written on an admitted basis due to marketing and regulatory reasons. Business in this segment is written through the company’s Wholesale, Specialty and Global Insurance divisions. Wholesale Division This division writes commercial risks, primarily on an E&S basis. E&S eligibility allows the company’s insurance subsidiaries to underwrite unique loss exposures with various flexible policy forms and unregulated premium rates. The company’s E&S business is written through two distribution channels, professional surplus lines general agents who have limited quoting and binding authority and wholesale brokers. The majority of its E&S business produced by this segment is written on a surplus lines basis through Essex Insurance Company, Evanston Insurance Company, or Alterra Excess & Surplus Insurance Company (AESIC). Specialty Division This division writes program insurance and other specialty coverages for well-defined niche markets, primarily on an admitted basis. The company’s business written in the admitted market focuses on risks that, although unique and hard-to-place in the standard market, must remain with an admitted insurance company for marketing and regulatory reasons. The majority of the company’s business written in the Specialty division is written by retail insurance agents who have limited underwriting authority. Agents are carefully selected and agency business is controlled through regular audits and pre- approvals. Certain products and programs are marketed directly to consumers or distributed through wholesale producers. Personal lines coverages included in this segment are marketed directly to the consumer using direct mail, Internet and telephone promotions, as well as relationships with various motorcycle and boat manufacturers, dealers and associations. The majority of the business produced by this division is written either through Markel Insurance Company (MIC), Markel American Insurance Company (MAIC), FirstComp Insurance Company (FCIC), or Essentia Insurance Company (Essentia). MIC, MAIC and Essentia are licensed to write property and casualty insurance in all 50 states and the District of Columbia. MAIC is also licensed to write property and casualty insurance in Puerto Rico. Essentia specializes in coverage for classic cars and boats. FCIC is licensed in 28 states and specializes in workers' compensation coverage. Global Insurance Division This division writes risks outside of the standard market on both an admitted and non-admitted basis, and includes business previously written by Alterra. The portion of Global Insurance division business written by the company’s U.S. insurance subsidiaries is included in this segment, and the remainder is included in the International Insurance segment. The U.S. business produced by this division is primarily written on either AESIC or Alterra America Insurance Company (AAIC). AESIC is authorized to write property and casualty insurance in 49 states and the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands. AAIC is licensed to write property and casualty insurance in all 50 states and the District of Columbia. Product offerings within the U.S. Insurance segment fall within various major product groupings, such as general liability, professional liability, propert

 

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Industry Analysis

MKL

Industry Average

Valuation MKL Industry Range
Price/Earnings 24.8x
Price/Sales 2.2x
Price/Book 1.5x
Price/Cash Flow 21.6x
TEV/Sales 1.0x
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