Markel: 2Q Earnings Snapshot

GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported second-quarter profit of $908.7 million.

The Glen Allen, Virginia-based company said it had net income of $65.75 per share. Earnings, adjusted for investment gains, came to $13.66 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $8.70 per share.

The insurer posted revenue of $3.13 billion in the period. Its adjusted revenue was $2.22 billion, which also topped Street forecasts. Three analysts surveyed by Zacks expected $2.17 billion.

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Markel shares have dropped 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $992.48, a decrease of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKL at https://www.zacks.com/ap/MKL

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