Author Topic: MKL - Markel Corp  (Read 285868 times)

berkshiremystery

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Re: MKL - Markel Corp
« Reply #30 on: August 22, 2011, 11:49:35 AM »
Here's a good read about Tom Gayner @ MKL,... BRK & FFH.

Cheers!

Tom Gayner Entrusts a Quarter of Markel's Equity Portfolio to 3 Brilliant Capital Allocators
August 18, 2011
http://seekingalpha.com/article/288226-tom-gayner-entrusts-a-quarter-of-markel-s-equity-portfolio-to-3-brilliant-capital-allocators?source=yahoo
« Last Edit: August 22, 2011, 11:52:33 AM by berkshiremystery »


Liberty

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Re: MKL - Markel Corp
« Reply #31 on: October 19, 2011, 07:07:12 AM »
http://www.prnewswire.com/news-releases/markel-announces-acquisition-of-weldship-132138293.html

Quote
RICHMOND, Va., Oct. 19, 2011 /PRNewswire/ -- Markel Corporation (NYSE: MKL) announces today that its subsidiary, Markel Ventures, has acquired a majority interest in WI Holdings Inc. ("Weldship"), a privately held company headquartered in Bethlehem, PA, with a division, Texas Trailer Corporation, in Gainesville, TX, from RAF Industries, Inc.  Weldship manufactures, leases and sells high pressure tube trailers, certified ISO containers and other gas and liquid containers to industrial gas manufacturers, independent distributors, specialty chemical companies and the United States Government for use in the domestic and international compressed gas, electronic gas and specialty chemical industries.

Robert Arcieri, CEO and President of Weldship, stated, "We are very excited about our new relationship with Markel.  With the added strength Markel provides as our permanent business partner, we anticipate our business will continue its consistent growth pattern, providing security for our employees and support for our customers."

Thomas S. Gayner, President of Markel Ventures, added, "We are pleased to welcome Weldship to the Markel Ventures family.  Weldship is an established leader within their specialized industry segment and will be a great addition to our group of businesses."
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Liberty

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jeffmori7

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Re: MKL - Markel Corp
« Reply #33 on: November 07, 2011, 03:50:59 PM »

Liberty

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Re: MKL - Markel Corp
« Reply #34 on: December 07, 2011, 09:34:34 AM »
http://www.prnewswire.com/news-releases/markel-announces-agreement-to-acquire-thomco-135161588.html

 
Quote
Markel Corporation (NYSE: MKL) and Thompson Insurance Enterprises, LLC (dba THOMCO) announced today that they have entered into a definitive agreement for Markel to acquire THOMCO, a privately held Program Administrator underwriting multi-line, industry-focused insurance programs. Headquartered in Kennesaw, Georgia, THOMCO manages over 20 national programs including Medical Transportation, Senior Living, Childcare Centers, Fitness Clubs, Pest Control Operators, Tanning Salons and Inflatable Rental Operators, among others.

THOMCO expects to underwrite in excess of $170,000,000 in gross written premium in 2011. The firm produces business through a network of 4,500 producers and has 108 employees, with the majority located at the home office in Kennesaw in addition to branch offices in Kansas City and Denver.

THOMCO will continue to operate as a separate business unit with Greg Thompson and Bob Heaphey, THOMCO's current Chairman and President, respectively, leading the operation. The operating unit will be a part of Markel Specialty.

The transaction has been approved by all THOMCO's members. Completion of the transaction is subject to customary closing conditions, including Hart-Scott-Rodino clearance, and is expected to occur in the first quarter of 2012. Terms of the transaction were not disclosed.

"We are very compatible organizations," commented Greg Thompson, THOMCO's Chairman. "Both companies have built an excellent reputation for integrity, customer service and underwriting discipline. Markel prides itself on providing an atmosphere in which people can reach their personal potential, and we whole-heartedly embrace that value. Our product innovation, niche expertise, distribution network and technology complement Markel's outstanding Claims Department and financial strength.  We will be able to better serve our customers while offering greater opportunity to our staff. This transaction should be a winner for both parties."

Mike Crowley, Markel's President and Co-Chief Operating Officer, added: "With the acquisition of THOMCO, we are witnessing the combination of two companies that share a similar history. Both were founded by families that maintain leadership positions in their respective firms and who share similar cultures and values."
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biaggio

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jeffmori7

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Re: MKL - Markel Corp
« Reply #36 on: February 02, 2012, 06:33:20 PM »
Thanks biaggio!

A year impacted by the large number of natural catastrophes, so income are cut in half, but still they manage to grow book value by 8%. Not that bad for such a year. So far, Markel Ventures is growing quite fast in terms of revenue, but still only contributing to 7M in earning..quite disappointing , no?

I'm happy to see that they don't have a lot of exposure to Europe and looking forward for a better year in 2012 with less catastrophe (and a hard market?) and more non-insurance income. Happy to see some share repurchases a little over book value. Finally, one thing I always like with them is that they don't hesitate to reduce volume if it can improve profitability.

Liberty

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Re: MKL - Markel Corp
« Reply #37 on: February 28, 2012, 12:59:15 PM »
2011 Annual report is out.

Edit: Well, I got a email saying it, but apparently the link on their website points to the wrong place. Should be fixed soon..
« Last Edit: February 28, 2012, 01:01:42 PM by Liberty »
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hellsten

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Re: MKL - Markel Corp
« Reply #38 on: February 28, 2012, 02:31:12 PM »
Markel's 2011 annual report and 10-K:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDU2OTczfENoaWxkSUQ9NDgzOTEyfFR5cGU9MQ==&t=1

My notes:

   •   Combined ratio of 102% included eight points of underwriting loss from natural catastrophes
   •   Book value per share increased to $352.10, representing a compound annual growth rate for the one-year and five-year periods of 8% and 9%, respectively
   •   Revenues from Markel Ventures exceeded $315 million, and we acquired four new businesses in 2011
   •   Portfolio per share: $907.2
   •   other revenues, which primarily represent the Markel Ventures companies, rose 89%
   •   Our total investment return in 2011 was 6.5%. In our fixed income operations, we earned 7.6% and in our equity portfolio, we earned 3.8%.
   •   At December 31, 2011, we held fixed maturities of $53.9 million, or less than 1% of invested assets, from sovereign and non-sovereign issuers domiciled in Portugal, Ireland, Italy, Greece or Spain
   •   At December 31, 2011, the Company’s ten largest equity holdings represented $955.5 million, or 51%, of the equity portfolio. Investments in the property and casualty insurance industry represented $397.3 million, or 21%, of the equity portfolio at December 31, 2011. Investments in the property and casualty insurance industry included a $221.2 million investment in the common stock of Berkshire Hathaway Inc.
   •   5-Year CAGR in book value per share: 9%
   •   $150.9 million of estimated net losses related to natural disasters. Almost $50 million from Japan.
   •   The Company’s Board of Directors has approved the repurchase of up to $200 million of common stock under a share repurchase program…As of December 31, 2011, the Company had repurchased 118,056 shares of common stock at a cost of $44.6 million under the Program.
   •   Net income to shareholders for 2011 decreased 47% compared to 2010 primarily due to a deterioration in underwriting results, which was driven by higher losses from natural catastrophes compared to 2010.
   •   In the current market environment, we have chosen to take a more defensive posture, earning slightly lower investment yields in order to maintain a high level of liquidity and have flexibility in how we allocate capital.
   •   our holding company (Markel Corporation) held $1,158.7 million of invested assets, which approximated 15 times annual interest expense of the holding company
   •   The estimated fair value of our investment portfolio at December 31, 2011 was $8.7 billion, 79%
of which was invested in fixed maturities, short-term investments and cash and cash equivalents and 21% of which was invested in equity securities.


ShahKhezri

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Re: MKL - Markel Corp
« Reply #39 on: April 19, 2012, 10:49:10 PM »
Another acquisition:
http://finance.yahoo.com/news/markel-announces-acquisition-havco-210000484.html

Odd group of companies in Markel Ventures, but it's a group nonetheless...the more they do, the more credibility and better opportunities in the future.

I own MKL.