Global insurers are well capitalized to absorb the hit from rising claims and costs related to the COVID-19 pandemic, ratings agency AM Best said on Monday, citing a stress test it conducted to gauge the immediate impact of outbreak on insurers' financial strength. AM Best said most rated insurers and reinsurers performed well in its stress test and their capital levels provided an adequate buffer against a potential shock to their balance sheets. Sensitivity to the COVID-19 pandemic was greater for life and health insurers with high asset and mortality risks, insurers with material exposures to mortgage loans, carriers operating in domiciles in higher country-risk tiers and companies with smaller capital bases.

Markel Corporation (NYSE: MKL) announced today that it has entered into a definitive agreement to acquire a majority interest in Lansing Building Products. Simultaneously, Lansing entered into a definitive agreement to acquire the distribution business of Harvey Building Products. Both transactions are subject to customary closing conditions and are expected to close in the second quarter of 2020. Additional terms were not disclosed.

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Progressive's (PGR) first-quarter 2020 premiums are likely to have benefited from solid policies in force, higher retention, increased investment income and compelling product portfolio.

Tobias Carlisle, Founder and Portfolio Manager at The Acquirers Fund, joined Yahoo Finance's Jen Rogers and Myles Udland to discuss the stocks he's watching and how he's navigating the current market.

MKL earnings call for the period ending March 31, 2020.

Dunes Point Capital, LP ("DPC") has entered into a definitive agreement to sell the distribution business of Harvey Building Products ("Harvey") to Lansing Building Products ("Lansing"). The transaction is expected to close in the second quarter of 2020. Simultaneously, Lansing entered into a definitive agreement to sell a majority interest to Markel Corporation (NYSE: MKL). DPC will retain the manufacturing business of Harvey.

Q1 2020 Markel Corp Earnings Call

Markel (MKL) Q1 results reflect weak performance of Insurance and Reinsurance Segments as well as higher operating expenses.

Markel Corporation (NYSE:MKL) reported operating revenues for the first quarter of 2020 that included $1.3 billion of earned premiums in our underwriting operations, compared to $1.2 billion in 2019, $511.2 million of operating revenues in our Markel Ventures operations, compared to $455.0 million in 2019 and net investment losses of $1.7 billion attributable to the change in fair value of our equity portfolio, compared to net investment gains of $612.2 million for the first quarter of 2019. The significant volatility in the equity markets arising from economic uncertainty associated with the COVID-19 pandemic contributed to a comprehensive loss to shareholders of $1.4 billion for the first quarter of 2020 compared to comprehensive income of $732.2 million for the first quarter of 2019 and diluted net loss per share of $100.60 for the quarter ended March, 31, 2020 compared to diluted net income per share of $42.76 for the first quarter of 2019. The combined ratio was 118% for the first quarter of 2020, or 94% after excluding $325 million of underwriting loss attributed to the COVID-19 pandemic, which added 24 points to the combined ratio. This compares to a combined ratio of 95% for the first quarter of 2019. Book value per common share outstanding was $705.68 at March 31, 2020, down 12% from $802.59 at December 31, 2019.

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

Markel Corporation (NYSE: MKL) today announced a change in location for its 2020 Annual Meeting of Shareholders. The 2020 Annual Meeting of Shareholders will be held on Monday, May 11, at 4:30 p.m. ET at its headquarters at 4521 Highwoods Parkway, Glen Allen, Virginia. Unfortunately, due to the public health impact of the coronavirus and in compliance with governmental orders and directives, attendance at the meeting will be limited to company officers and other personnel required to conduct the meeting.

Markel Corporation (NYSE:MKL) announced today it will hold a conference call on Wednesday, April 29, 2020 beginning at 9:30 am (Eastern Time) to discuss quarterly results and business developments.

Markel (MKL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

AM Best has assigned a Long-Term Issue Credit Rating of "bbb-" to the recently announced $600 million 6.0% non-cumulative preferred stock issued by Markel Corporation (Markel) (Glen Allen, VA) [NYSE: MKL]. The outlook assigned to this Credit Rating (rating) is stable.

Markel’s newest positions include ex-Berkshire holding American Airlines Continue reading...

Giverny Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. You should check out Giverny Capital’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash. There weren’t a lot of funds who could deliver these kinds […]

Markel Corporation (NYSE: MKL) today announced that shareholders and other interested parties will be able to stream a live webcast of the Company's 2020 Annual Meeting of Shareholders (the Annual Meeting) free over the Internet through the Company's website, www.markel.com, beginning at 4:30 p.m. EDT on Monday, May 11, 2020. As previously announced, the Annual Meeting will be held on Monday, May 11, 2020, at 4:30 p.m. EDT at the Company's headquarters at 4521 Highwoods Parkway, Glen Allen, Virginia. However, due to the public health impact of the coronavirus, and in compliance with governmental orders and directives, attendance at the Annual Meeting will be limited to Company officers and other personnel required to conduct the meeting.

Markel (MKL) agrees to the acquisition of majority stake in Lansing Building Products.

Markel (MKL) is poised to benefit from improved net written premiums and initiatives undertaken.