Markel International, London, November 6 , 2014 --- Markel Corporation (NYSE – MKL) reported book value percommon share outstanding of $514.06 at September 30, 2014, up 8% from $477.16 at December 31, 2013.
Comprehensive income to shareholders was $36.5 million for the third quarter of 2014 compared to $144.4
million for the same period of 2013. Comprehensive income to shareholders was $517.4 million for the nine
months ended September 30, 2014 compared to $253.0 million for the same period of 2013. The combined
ratio was 97% for the third quarter of 2014 compared to 96% for the third quarter of 2013. The combined
ratio was 97% for both the nine months ended September 30, 2014 and 2013. Diluted net income per share
was $5.30 for the quarter ended September 30, 2014 compared to $4.67 for the third quarter of 2013.
Diluted net income per share was $14.21 for the nine months ended September 30, 2014 compared to
$15.33 for the same period of 2013.
Alan I. Kirshner, Chairman and Chief Executive Officer, commented, “During the third quarter and
first nine months of 2014, all three insurance segments achieved underwriting profitability. We remain
focussed on disciplined underwriting despite increasing competition in the marketplace, most notably in
reinsurance. In addition, we completed the acquisition of Cottrell in the third quarter adding it to the Markel
Ventures portfolio of companies and we continue to look for profitable growth opportunities.”
William Stovin, President and Chief Operating Officer of Markel International, said: “MINT has continued to deliver solid financial results for the first three quarters of 2014. All our businesses have performed well, delivering strong premium growth combined with good underwriting profitability.
“We continue to make progress in developing the Abbey Protection business we acquired at the beginning of the year, while our trade credit business is now on the ground in New York and plans to be part of the Lloyd’s platform in Dubai.
“Following the formation of our branch office in Germany in 2013, we have expanded our German business with the acquisition in October of MDT, a managing general agent and broker, focused solely on providing insurance for the German travel sector. We’ll continue to develop our local regional businesses which have the attractions of balancing the greater volatility of international wholesale markets.”
For more information:
Markel International 020 7953 6000
Andy Davies, Finance Director
Michael Henman, Director of Communications
About Markel International:
Markel International Limited is a subsidiary of Markel Corporation, a US-based holding company trading on the New York Stock Exchange (MKL). Markel International writes insurance and reinsurance business through eight divisions and through offices across the UK, Europe, Canada, Latin America and Asia Pacific. Markel International’s insuring entities include Syndicate 3000, Markel Resseguradora do Brasil S.A. and Markel International Insurance Company Limited. Markel International also manages the business of Abbey Protection Group which provides legal and professional fees insurance cover as well as legal, tax and human resources consultancy services. For more information please visit us at www.markelinternational.com