Markel Reports Second Quarter Results

Markel Corporation MKL reported diluted net income per share of $2.12 for the quarter ended June 30, 2010 compared to $3.34 for the second quarter of 2009. Diluted net income per share was $6.46 for the six months ended June 30, 2010 compared to $5.00 for the same period of 2009. The combined ratio for the second quarter of 2010 was 103% compared to 99% for the second quarter of 2009. The combined ratio was 102% for the six months ended June 30, 2010 compared to 97% for the same period of 2009. For the six months ended June 30, 2010, the combined ratio included $32.7 million, or 4 points, of underwriting loss on the Chilean earthquake and the Deepwater Horizon drilling rig explosion, which occurred in February 2010 and April 2010, respectively. Book value per common share outstanding increased 3% to $291.71 at June 30, 2010 from $282.55 at December 31, 2009.