Markel Corporation history, company profile (overview) and history video
Markel Corporation is a diversified financial holding company, headquartered in Richmond, Virginia, United States. It operates through the following business segments: Insurance, Investments, and Ventures.
HISTORY
Markel’s history began in 1930 when Samuel A. Markel formed Mutual Casualty Association and established the insurance company Mutual Casualty Company to ensure jitney buses.
In 1935, Sam Markel’s four sons, Lewis, Irvin, Stanley, and Milton joined the business, and Markel Service, Inc. was born.
In 1935, Sam Markel’s four sons, Lewis, Irvin, Stanley, and Milton joined the growing business, and Markel Service, Inc. is born.
In 1951, the company made its first international expansion with the founding of Markel Service Canada, Ltd.
In 1986, Markel Corporation was listed on the NASDAQ Exchange.
In 1990, Markel acquired Shand Morahan & Company and American Underwriting Managers, which specializes in personal boat and motorcycle insurance.
In 1997, Markel was listed on the New York Stock Exchange (NYSE).
In 2000, Markel acquired Terra Nova Holdings Ltd. (Bermuda) and gained access to specialty international markets.
In 2017, the company acquired SureTec Financial Corp. and State National. Markel Ventures acquired Costa Farms.
In 2018, Markel acquired Nephila, which becomes one of the world’s largest fund managers of insurance-linked investments.
INSURANCE
- US & BERMUDA – insurance solutions from personal lines and small businesses, serving industries with casualty, property, and other insurance product offerings;
- INTERNATIONAL- commercial insurance for major businesses, SMEs, professionals, and sole traders;
- REINSURANCE – casualty, specialty, and public entity reinsurance products.
INSURANCE-LINKED SECURITIES AND PROGRAM SERVICES
- Nephila – an investment manager focusing on reinsurance and weather-related risk, offering a broad range of investment products, including insurance-linked securities (ILS), catastrophe bonds, insurance swaps, and private transactions.
- State National – provides single-source program service solutions for other financial service institutions.
MARKEL VENTURES
- Brahmin – luxury handbags;
- Buckner Heavylift Cranes – large crawler cranes;
- CapTech – technology;
- Costa Farms – plants;
- Cottrell – over-the-road car haulers and equipment;
- Eagle – home builders;
- Ellicott Dredges – dredges;
- Havco – floor;
- Lansing Building Products – building products;
- Markel | Eagle Partners – investor in residential and commercial real estate.;
- Markel Food Group – food;
- Metromont – precast concrete solutions;
- Panel Specialists – interior architectural products;
- ParkLand Ventures;
- PartnerMD – concierge primary care and executive health;
- RetailData;
- Rosemont Investment Group – investor in asset and wealth management companies;
- VSC Fire & Security – fire safety and security;
- Weldship – serves companies in the industrial, specialty gas, and specialty chemical markets.
With more than 20,000 employees, Markel Corporation is considered one of the Largest Public Companies in the World, according to Forbes.
*Information from Forbes.com, Wikipedia.org, and www.markel.com.
**Video published on YouTube by “Markel“.