Markel

Markel Corporation is a holding company that underwrites customized insurance products. Markel Corporation (NYSE – MKL) is a holding company based in Richmond, Virginia. Markel is listed on the NYSE and trades under the ticker symbol “MKL.” 

Founded in 1930, Markel underwrites customized insurance products. Insurance segments include Markel Wholesale, Global Insurance, Markel Specialty, Global Reinsurance, and Markel International(including Syndicate 3000, Markel International Insurance Company Limited, and Markel Resseguradora do Brasil S.A.). Markel Ventures, a subsidiary that makes strategic investments in companies outside of the insurance marketplace, is another important component of our business.

1930: The company was founded by Samuel A. Markel and is headquartered in Glen Allen, VA.” Markel established Markel Service, a separate company to handle direct and reinsurance of AF&C.

1951: The company expanded into Canada by founding Markel Service Canada, Ltd., headquartered in Toronto, Ontario.

1980: The company founded Essex Insurance Company in Delaware. Markel became an insurance carrier when Essex Insurance Company was incorporated and licensed to write excess and surplus lines business.

1986: In December, Markel Corp. held its first IPO at $8.33 per share, valuing the company at $15 million. 

1987:  Markel reorganized Markel Financial Holdings (Canada) and renamed it Fairfax Financial Holdings Ltd., short for "fair, friendly acquisitions."

1989: Markel Corp. acquired the Rhulen Agency of Monticello, New York.

1990: In December, Markel completed its acquisition of Shand.

1996: In October, Markel Corp. acquired Investors Insurance Holding Corporation in Red Bank, New Jersey.

1997: Trading of Markel shares moves to the NYSE and with 5.5 million shares outstanding, market capitalization approaches $900 million (USD). During this year, the share price increased from $90 to $156, a 73% increase.

2000: In January, Markel Corp. founded Markel Southwest Underwriters in Scottsdale, Arizona after buying the Arizona policies of Acceptance Insurance Company. Markel gained access to specialty international markets when Terra Nova Holdings, Ltd. was acquired and the London office opened.

2005: With a "permanent capital" investing approach, Markel Ventures acquired AMF Bakery Systems and continued to acquire other varied and scalable businesses.

2009: In October, Elliott Special Risks LP (ESR) was purchased by Markel International, a London-based speciality property and casualty insurer that runs the international operations of Markel Corp. On October 30, Markel Ventures, Inc. acquired Panel Specialists, LLC., a manufacturer of panels, wall systems, casework, furniture, countertops and other stone-related products.

2010: On May 11, Markel Ventures, Inc. acquired Solbern, LLC, a manufacturer of food processing equipment for both the domestic and international markets.

2011: In April, Markel (UK) Limited launched Markel Direct, an online direct-to-customer distribution channel for specialist insurance. On July 14, Markel Corp. acquired PartnerMD, LLC, a company which provides concierge medicine, a type of membership healthcare service in which patients pay an annual fee for enhanced care that includes disease prevention, health maintenance, and around-the-clock access to a physician.

2012: On January 4, Markel Corp. completed the acquisition of Thompson Insurance Enterprises, a privately held program administrator underwriting multi-line, industry-focused insurance programs. In June, Markel Direct expands its product range into charity and community group risks. In October, Markel purchased Essentia Insurance Company.

2013: On August 16, Markel Ventures, Inc. acquired Eagle Construction of VA, a recognized leader in designing active adult communities and in building energy-efficient homes through its signature E3 program. On December 17, Essentia Insurance Company (Essentia), a subsidiary of Markel Corp, was rated as “A2 by Moody’s Investor Service with an uncertain outlook.”

2014: On July 23, Markel Ventures, Inc. acquired a majority interest in Cottrell, Inc., a global leader in the design, manufacture and delivery of over-the-road automobile transport equipment.

2015: Markel acquired Bermuda-based CATCo, a specialist investment management business; and Markel Ventures announced a majority interest in CapTech.

2016: In June, it was announced that Markel had joined the Fortune 500 for the first time.

2017: On May 1, Markel Corp. acquired SureTec Financial Corp., one of the largest privately owned surety companies in the US. This year as well, Markel merged their Global and Wholesale divisions and created Markel Assurance.

2018: On September 17, Markel Corp. announced their plans to acquire a majority interest in Brahmin, a creator of fashion leather handbags.

2019: On September 12, Markel announced their plans to acquire Caunce O'Hara & Company Limited, an Insurance Broker based in Manchester specialising in providing insurance to freelance and contract workers. Markel ranks #441 on the 2019 Fortune 500—moving up from #464 the previous year.

“We seek to deliver innovative products and responsive customer service so that we can be a market leader. Our time horizon is long-term, our underwriting approach is disciplined, and our focus is on continuously improving the quality of the customer experience.”

“The Markel way is to seek to be a market leader in each of our pursuits. We seek to know our customers' needs and to provide our customers with quality products and services. Our pledge to our shareholders is that we will build the financial value of our company.”