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Markel misses 1Q revenue forecasts

GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Wednesday reported first-quarter net income of $69.9 million.

The Glen Allen, Virginia-based company said it had profit of $3.90 per share. Earnings, adjusted for non-recurring gains, came to $2.82 per share.

The insurer posted revenue of $1.41 billion in the period. Its adjusted revenue was $1.39 billion, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.44 billion.

Markel shares have increased 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $978.01, a climb of slightly more than 8 percent in the last 12 months.

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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

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Keywords: Markel, Earnings Report