RICHMOND, Va., Aug. 2, 2016 /PRNewswire/ -- Markel Corporation
(NYSE:MKL) reported book value per common share outstanding of
$603.13 at June 30, 2016, up 7% from $561.23 at December 31,
2015. Comprehensive income to shareholders was $209.9 million for the second quarter of 2016
compared to a comprehensive loss to shareholders of $132.9 million for the second quarter of 2015.
Comprehensive income to shareholders was $606.9 million for the six months ended
June 30, 2016 compared to
$148.9 million for the same period of
2015. The combined ratio was 93% for the second quarter of 2016
compared to 96% for the second quarter of 2015. The combined ratio
was 90% for the six months ended June 30,
2016 and 2015. Diluted net income per share was $5.41 for the quarter ended June 30, 2016 compared to $6.72 for the second quarter of 2015. Diluted net
income per share was $16.55 for the
six months ended June 30, 2016
compared to $20.21 for the same
period of 2015.
Alan I. Kirshner, Executive
Chairman, commented, "The second quarter of 2016 results continued
to reflect strong performance from our underwriting, investing and
Markel Ventures operations. We were pleased with our underwriting
results which had minimal impact from the industry-wide large loss
events that occurred during the quarter. Our investment portfolio
benefited from favorable movements in the debt and equity markets
and our Markel Ventures operations reported another quarter of year
over year growth in operating revenue, EBITDA and net income."
The Company also announced today it has filed its Form 10-Q for
the quarter ended June 30, 2016 with
the Securities and Exchange Commission. A copy of the Form 10-Q is
available on the Company's website at www.markelcorp.com or on the
SEC website at www.sec.gov. Readers are urged to review the
Form 10-Q for a more complete discussion of the Company's financial
performance. The Company's quarterly conference call, which
will involve discussion of the Company's financial results and
business developments and may include forward-looking information,
will be held Wednesday, August 3,
2016, beginning at 9:30 a.m. (Eastern
Time). Any person interested in listening to the call
should contact Markel's Investor Relations Department at
804-747-0136. Investors, analysts and the general public also may
listen to the call free over the Internet through the Company's
website, www.markelcorp.com. A replay of the call also will
be available from approximately one hour after the conclusion of
the call until Monday, August 15,
2016.
About Markel Corporation
Markel Corporation is a
diverse financial holding company serving a variety of niche
markets. The Company's principal business markets and underwrites
specialty insurance products. In each of the Company's businesses,
it seeks to provide quality products and excellent customer service
so that it can be a market leader. The financial goals of the
Company are to earn consistent underwriting and operating profits
and superior investment returns to build shareholder value. Visit
Markel Corporation on the web at www.markelcorp.com.
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SOURCE Markel Corporation