Author Topic: MKL - Markel Corp  (Read 293043 times)

Shane

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Re: MKL - Markel Corp
« Reply #730 on: April 11, 2019, 06:28:43 AM »
Of course he is going to come up with a litany of ways to justify why he deserves the payout.  As an outsider, I don't know how I would gain much from this without hearing Markel's response.



LongTermView

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Re: MKL - Markel Corp
« Reply #731 on: April 11, 2019, 09:19:56 AM »
Of course he is going to come up with a litany of ways to justify why he deserves the payout.  As an outsider, I don't know how I would gain much from this without hearing Markel's response.

Agreed, I don't want to come to conclusions until I hear Markel's response.

reader

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Re: MKL - Markel Corp
« Reply #732 on: April 15, 2019, 12:29:18 AM »
Markel Issues Statement on Markel CATCo
RICHMOND, Va., April 14, 2019 /PRNewswire/ -- Markel Corporation (NYSE: MKL) (the "Company") previously reported that the U.S. Department of Justice, U.S. Securities and Exchange Commission and Bermuda Monetary Authority (together, the "Governmental Authorities") are conducting inquiries into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd. and its subsidiaries (together, "CATCo"). These inquiries are limited to CATCo and do not involve the Company or its other subsidiaries.
As the Company previously disclosed, it retained outside counsel to conduct an internal review of CATCo's loss reserving in late 2017 and early 2018. The internal review has recently been completed.  The internal review conducted by outside counsel found no evidence that CATCo personnel acted in bad faith in exercising business judgment in the setting of reserves and making related disclosures during late 2017 and early 2018.  The Company's outside counsel has met with the Governmental Authorities and reported the findings from the internal review.

The Governmental Authorities' inquiries are ongoing and the Company continues to fully cooperate with them.  The Company cannot currently predict the duration, scope or result of the Governmental Authorities' inquiries.

https://www.markelcorp.com/About-Markel/NewsRoom/Reuters2394437

Cigarbutt

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Re: MKL - Markel Corp
« Reply #733 on: April 29, 2019, 09:49:06 AM »

CorpRaider

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Re: MKL - Markel Corp
« Reply #734 on: April 30, 2019, 09:41:16 AM »
Would be very interested if someone asked about this at the brunch; i.e., did they do some DD about risks.  "Any concerns/due dilligence about the turnover in the c-suite or reputational harm by association?" 

I have to wonder if Saurabh hooked this up/highlighted potential for pipeline into how better data and analytics might disrupt the industry.  Pretty damned interesting.
« Last Edit: April 30, 2019, 09:42:48 AM by CorpRaider »

ValueMaven

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Re: MKL - Markel Corp
« Reply #735 on: July 12, 2019, 06:06:40 AM »
Does anyone have any interesting SOTP valuation approachs to valuing this?  It seems like the overhang from CatCo accounting issues is now gone?!  In retrospect -- this thing trading down to the mid-$900s was a bargin for the LT investor

Astrea

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Re: MKL - Markel Corp
« Reply #736 on: July 12, 2019, 07:41:30 AM »
The video of the Markel Brunch 2019 is available here

https://www.youtube.com/watch?v=JewU4-cOl6g


Cigarbutt

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Re: MKL - Markel Corp
« Reply #737 on: July 17, 2019, 08:39:26 PM »
It looks like the dust is settling on a personal level.
https://www.insurancejournal.com/news/national/2019/07/16/532453.htm
For the unusual reserves development, Markel found 'no bad faith' but still waiting for the government enquiry (inquiry?).