Markel Corporation Stock Price, News & Analysis

Markel Corporation (NYSE:MKL) will hold a conference call on February 3, 2021, at 9:30 AM ET to discuss its quarterly and year-end results along with business developments. This event is open to investors, analysts, and the public, who can listen via the company's website. A replay will be available for access until February 15, 2021. Markel Corporation focuses on specialty insurance products and aims to deliver quality service and consistent profits to enhance shareholder value.

On January 7, 2021, Markel Corporation (NYSE: MKL) announced the appointment of Tom Williams as the new Environmental Product Line Leader for its Markel Specialty division. Williams brings over 20 years of experience in environmental insurance, having previously led the environmental practice group at Allianz Global Corporate & Specialty. His expertise is expected to enhance the company’s environmental product offerings. Williams will report to Alan Rodrigues, Executive Underwriting Officer, and will be based in Alpharetta, Georgia.

Markel Corporation (NYSE: MKL) has announced an increase in its surety capacity to $500 million through the establishment of a National Accounts segment led by Michael Bond. This segment will target contractors with larger program needs and Fortune 2000 commercial accounts. Markel Surety also expands its branch network with new offices in Red Bank, New Jersey, Chicago, and Sacramento, California.

The expansion aims to enhance Markel's market presence and strengthen relationships with strategic partners.

Markel Corporation (NYSE: MKL) announced the appointment of Mark M. Besca to its board of directors on November 18, 2020. Besca, who recently retired from EY after 42 years, brings extensive skills in advising major corporations across various industries. He will serve on the board's Audit Committee. Previously, he held leadership roles at EY, focusing on long-term value and stakeholder capitalism. His expertise is expected to enhance the board's insights and contributions towards the company's goals, which aim for consistent profits and superior investment returns.

Markel Corporation (NYSE:MKL) reported its third-quarter and nine-month results for 2020, highlighting earned premiums of $1.39 billion for Q3 and $4.08 billion for nine months. Markel Ventures generated $824 million in Q3 revenues. Despite significant challenges, including $48.9 million in losses from COVID-19 and $101 million from natural disasters, the company maintained an underwriting profit and achieved $520.1 million in comprehensive income to shareholders. The company’s diluted net income per share was $31.03 for Q3.

Markel Corporation (NYSE: MKL) announced the appointment of Adriana Belli as the new Managing Director of the Property, Marine and Select Risk Claims Division. Belli will oversee over 80 claims professionals in the U.S. and brings more than 20 years of experience in insurance and reinsurance claims management. Previously, she held leadership roles at AIG, XL Catlin, and Everest Re. Markel aims to leverage her expertise in streamlining operations and improving profitability.

Markel Corporation (NYSE: MKL) will host a conference call on October 28, 2020, at 9:30 am ET to discuss its quarterly results and business developments. The call is open to investors, analysts, and the public, with access available via the company's website. A replay will be accessible after the call until November 9, 2020. Markel specializes in niche insurance products and aims to deliver quality services and consistent profits to enhance shareholder value.

Markel Corporation (NYSE: MKL) announced the consolidation of its global property catastrophe reinsurance unit, transferring operations to Nephila, its market-leading subsidiary. This strategic shift aims to enhance operational efficiencies and leverage Nephila's competitive position. Moving forward, Markel Global Re will focus on underwriting casualty and specialty lines, led by Jed Rhoads. However, this transition will result in approximately 25 job reductions globally, with affected employees departing by December 31, 2020. Markel remains committed to assisting impacted employees during this change.

Markel Corporation (NYSE: MKL) has appointed Kelly Castriotta as the new Senior Director of Global Cyber Underwriting. In this role, she will enhance cyber underwriting standards across all divisions and lead the US non-affirmative cyber project. Bringing over a decade of experience from Allianz and other firms, Castriotta is recognized for her expertise in the cyber insurance domain. Her appointment is expected to strengthen Markel's underwriting capabilities and support product development initiatives. She will work from the company's Chicago office and report to Kara Owens.