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GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported fourth-quarter net income of $847.3 million.
On a per-share basis, the Glen Allen, Virginia-based company said it had profit of $59.33. Earnings, adjusted for investment gains, came to $15.83 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.04 per share.
The insurer posted revenue of $3.36 billion in the period. Its adjusted revenue was $2.51 billion, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.42 billion.
For the year, the company reported profit of $816 million, or $55.63 per share. Revenue was reported as $9.12 billion.
Markel shares have declined slightly more than 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $1,008.86, a decline of 14% in the last 12 months.