Last $646.84 USD
Change Today +0.84 / 0.13%
Volume 50.5K
As of 8:04 PM 09/19/14 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. In 2013, the company acquired Alterra Capital Holdings Limited (Alterra), a Bermuda-headquartered global enterprise providing diversified specialty property and casualty insurance and reinsurance products to corporations, public entities and other property and casualty insurers. The company acquired Abbey Protection plc in 2014, and became the owner of Abbey Legal Services which employs approximately 80 lawyers who provide legal services to small and medium-sized enterprises in the United Kingdom. The legal services of Abbey Legal Services are authorized and regulated by the Solicitors Regulation Authority, an independent regulatory body of the Law Society of England and Wales. Segments The company operates in the following segments: Excess and Surplus Lines, Specialty Admitted, London Insurance Market, and Alterra. Excess and Surplus Lines segment This segment writes risks outside of the standard market, including catastrophe-exposed property, professional liability, products liability, general liability, commercial umbrella, and other coverages modified for exposures. This segment is written through two distribution channels, such as professional surplus lines general agents who have limited quoting and binding authority, and wholesale brokers. The majority of the business produced by this segment is written on a surplus lines basis through either Essex Insurance Company, which is domiciled in Delaware, or Evanston Insurance Company, which is domiciled in Illinois. Product offerings within this segment fall within various major product groupings, such as property and casualty, professional liability, and other product lines. Property coverages consist principally of fire, allied lines (including windstorm, hail, and water damage), and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind on both a primary and excess basis. The company’s property risks range from small, single-location accounts to large, multi-state, multi-location accounts. Casualty product offerings include various liability coverages targeting apartments and office buildings, retail stores, contractors, and recreational and hospitality businesses. The company also offers products liability coverages on either an occurrence or claims-made basis to manufacturers, distributors, importers, and re-packagers of manufactured products. Professional liability coverages include solutions for professions, including architects and engineers, lawyers, agents and brokers, service technicians, and computer consultants. The company offers claims-made medical malpractice coverage for doctors, dentists, and podiatrists; claims-made professional liability coverage to individual healthcare providers, such as therapists, pharmacists, physician assistants, and nurse anesthetists; and coverages for medical facilities and other allied healthcare risks, such as clinics, laboratories, medical spas, home health agencies, small hospitals, pharmacies, and nursing homes. This product line also includes for-profit and not-for profit management liability coverage, which could be bundled or written mono-line and include employment practices liability, directors' and officers' liability, and fiduciary liability coverages. Additionally, it offers a data privacy and security product, which provides coverage for data breach and privacy liability, data breach loss to insureds and electronic media coverage. Other product lines within this segment include excess and umbrella products, which provide coverage through approved underlying insurance carriers on either an occurrence or claims-made basis; environmental products, which include environmental consultants' professional liability, contractors' pollution liability, and site-specific environmental impairment liability coverages; transportation-related products, which provide auto

 

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Industry Analysis

MKL

Industry Average

Valuation MKL Industry Range
Price/Earnings 31.5x
Price/Sales 1.8x
Price/Book 1.3x
Price/Cash Flow 25.5x
TEV/Sales 0.6x
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