Markel Corporation · Glen Allen, VA United States ·(NYSE: MKL)
Company Description
Phone: 804-747-0136
Fax: 804-965-1600
Toll Free: 800-446-6671
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This link will open in a new window Have you ever thought about who insures the manicurist or an antique motorcycle? Markel Corporation takes on the risks its competition won't touch, from amusement parks to thoroughbred horses and summer camps. Coverage is also available for one-time events, such as golf tournaments and auto races. Markel's commercial excess and surplus subsidiaries include
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Key Markel Corporation Financials
| Company Type | Public - NYSE: MKL Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $1,898.3 |
| 2008 Employees | 2,000 |
Markel Corporation Executives
30 executives listed for Markel Corporation's Glen Allen, VA location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Alan Kirshner | Network |
| Vice Chairman | Steven Markel | Network |
| Vice Chairman | Anthony Markel | Network |
Competition
Competitive Landscape for Markel Corporation
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Markel Corporation Competitors
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