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Markel Reports Marginal Decrease In Q2 Revenues

IBR Staff Writer Published 08 August 2010

Markel has reported total revenues of $515.4m for the second quarter of 2010, a decrease of 1.3% compared to $522.4m for the same quarter in 2009.

The company reported operating income of $48.2m for the second quarter compared to $52.2m for the same period last year.

For the quarter ended June 30, 2010, the company posted net income of $20.9m, or $2.12 per share, compared to $32.7m, or $3.34 per share, for the same period last year.

Alan Kirshner, chairman and CEO of Markel , said: “We continue to operate in a difficult underwriting environment; however, we remain committed to underwriting profitability in any environment.

“While intense pressure on pricing persists, we are excited about the opportunities we see to expand into new product areas, as evidenced by our recently announced agreement to acquire Aspen Holdings, a Nebraska-based provider of workers' compensation insurance.”