GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported first-quarter net income of $594.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Glen Allen, Virginia-based company said it had net income of $42.76. Earnings, adjusted for investment gains, were $9.24 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $9.41 per share.
The insurer posted revenue of $2.47 billion in the period. Its adjusted revenue was $1.86 billion.
Markel shares have climbed slightly more than 3% since the beginning of the year. The stock has dropped 5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKL at https://www.zacks.com/ap/MKL