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Markel: 2Q Earnings Snapshot

GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported second-quarter net income of $500.6 million.

The Glen Allen, Virginia-based company said it had net income of $36.07 per share. Earnings, adjusted for investment gains, were $11.84 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $10.15 per share.

The insurer posted revenue of $2.44 billion in the period. Its adjusted revenue was $2.01 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.05 billion.

Markel shares have climbed 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $1,111.55, a fall of slightly more than 3% 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