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.