<SEC-DOCUMENT>0001096343-17-000146.txt : 20171011
<SEC-HEADER>0001096343-17-000146.hdr.sgml : 20171011
<ACCEPTANCE-DATETIME>20171011170957
ACCESSION NUMBER:		0001096343-17-000146
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171011
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171011
DATE AS OF CHANGE:		20171011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARKEL CORP
		CENTRAL INDEX KEY:			0001096343
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				541959284
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15811
		FILM NUMBER:		171133108

	BUSINESS ADDRESS:	
		STREET 1:		4521 HIGHWOODS PARKWAY
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060-3382
		BUSINESS PHONE:		8047470136

	MAIL ADDRESS:	
		STREET 1:		4521 HIGHWOODS PKWY
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARKEL HOLDINGS INC
		DATE OF NAME CHANGE:	19991005
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>mkl10112017form8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Document</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s3A18E6A3A8880BDF413D066A9AF6C35A"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:100%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">UNITED STATES </font></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WASHINGTON, D.C. 20549 </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_______________________________________________</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_______________________________________________</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">CURRENT REPORT </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Securities Exchange Act of 1934 </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Date of Report (Date of earliest event reported):  </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">October&#160;11, 2017</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_______________________________________________</font></div><div style="line-height:120%;text-align:center;font-size:24pt;"><font style="font-family:inherit;font-size:24pt;font-weight:bold;">Markel Corporation </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Exact name of registrant as specified in its charter) </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_______________________________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:33%;"></td><td style="width:33%;"></td><td style="width:34%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Virginia</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">001-15811</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">54-1959284</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">(State or other jurisdiction</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">of incorporation)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">(Commission</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">File Number)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">(IRS Employer</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">Identification No.)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-align:center;">4521 Highwoods Parkway</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-align:center;">Glen Allen, Virginia</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">23060-6148</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Address of principal executive offices)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Zip Code)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Registrant&#8217;s telephone number, including area code: (804) 747-0136</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Not Applicable </font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Former name or former address, if changed since last report)</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_______________________________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:3%;"></td><td style="width:97%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table></div></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:144%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Emerging growth company </font><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </font><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:100%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s52C2B070D95EE426AE43066A9B34D810"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 8.01.&#160;&#160;&#160;&#160;Other Events.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;11, 2017</font><font style="font-family:inherit;font-size:10pt;">, Markel Corporation issued a press release announcing the estimated impact of third quarter catastrophe underwriting losses. A copy of this press release is filed as Exhibit 99.1 and is incorporated herein by reference. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 9.01.&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)&#160;&#160;&#160;&#160;Exhibits</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:76px;"></td><td style="width:606px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Exhibit No.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Description</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="mkl10112017exhibit991.htm"><font style="font-family:inherit;font-size:10pt;">99.1</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="mkl10112017exhibit991.htm"><font style="font-family:inherit;font-size:10pt;">Press release issued October 11, 2017</font></a></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sB0AE04DEAC01C6ABDEE3066A9B4911DB"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:49%;"></td><td style="width:6%;"></td><td style="width:1%;"></td><td style="width:44%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MARKEL CORPORATION</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">October&#160;11, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Anne G. Waleski</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Name:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Anne G. Waleski</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Title:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Executive Vice President and Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>mkl10112017exhibit991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2017 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sC0E5435CEDD9BFD9FE21066A9CC941E8"></a></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 99.1</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:44%;"></td><td style="width:12%;"></td><td style="width:44%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;"><img src="logo101117.jpg" alt="logo101117.jpg" style="height:154px;width:130px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">For more information contact:</font></div><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bruce Kay<br>Markel Corporation<br>804-747-0136<br>bkay@markelcorp.com</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">FOR IMMEDIATE RELEASE</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Markel Estimates Third Quarter Catastrophe Losses</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Richmond, VA, October 11, 2017 --- Markel Corporation (NYSE: MKL) today announced that it expects to report third quarter pre-tax underwriting losses of $503 million, net of reinstatement premiums, from Hurricanes Harvey, Irma and Maria as well as the Mexico City earthquakes. The Company&#8217;s estimate for the hurricane and earthquake losses is based on claims received to date and detailed policy level reviews, industry loss estimates, output from both industry and proprietary models as well as a review of in-force contracts. The Company&#8217;s estimate is preliminary and dependent on broad assumptions about coverage, liability and reinsurance. Accordingly, the Company&#8217;s actual net losses from these events may differ materially from this estimate. </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Further discussion of these matters and other third quarter results will be included in the Company&#8217;s quarterly report on Form 10-Q, which is expected to be available on October 25, 2017.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Richard R. Whitt, III, Co-CEO commented: &#8220;These significant losses fell within our expectations. At Markel we are well-positioned with our strong balance sheet to respond to the claims of our insureds. With both underwriting capacity and risk appetite, we are prepared to further assist our customers and trading partners in meeting their ongoing insurance and reinsurance needs.&#8221;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.&#160;Statements that are not historical facts, including statements about Markel's beliefs, plans or expectations, are forward-looking statements. These statements are based on Markel's current plans, estimates and expectations.&#160;There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Hurricane and earthquake loss estimates are based on currently available information related to covered exposures and assumptions about how coverage applies. As actual losses are reported, claims are adjusted and coverage issues are resolved, hurricane and earthquake losses may change significantly. Additional factors that could cause actual results to differ from those predicted are set forth under "Risk Factors" and "Safe Harbor and Cautionary Statement" in Markel&#8217;s most recent reports on Form 10-K and 10-Q. Markel undertakes no obligation to update any forward-looking statements, whether as a result of new information, future developments or otherwise.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">About Markel Corporation</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company's principal business markets and underwrites specialty insurance products. In each of the Company's businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at www.markelcorp.com.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo101117.jpg
<TEXT>
begin 644 logo101117.jpg
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MM6T'Q%\8M*N-3TB8O-:1>'_#27GCCQ1"UO)NBM[:\T_PY=K?#8JR!OGWOMR
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M&E6$]S#+JWPV@^)/P^\#>(3,MO+&MS8Z->^-='U[4+>X66W^QZ;-</'NMD=
M#]?O^")_[4/Q?\-?";_@J3^R;!X@UG5/@;\5O^";?[4GQ!U7P7<7EW<:'X<\
M??#[PQI\NC^-=+LGD>UTN\OM-U/4O#NM26\</]L1WNE)>/+)IM@(_C_]@_\
M; @_9,_9>_X*::?HVK_V;\3/VF?V=_ 7[-?@9(96@O?[&\<?%'3=3^*6H021
MLDRQVWPZ\/ZYIC-&PVWFN6#OPE?O-_P0M\+?L?7W_!%S_@LWXY\-Z!<Q_MQ>
M'/V:?BWX0^)&N:YK$=ZY^!'B3P9J&L>#&\ :0D<(T/1=1\0Z-J>G^-I=MY?7
MVM>'M$FO+^&PFTJPA_F;_9Z_9*U[]H7]GS]M#XO^%);JXUO]D3X>_#?XN:OH
M%N@D.J_#[Q%\1K+X>^--2";"^[PHWB#0_$%PRLJPZ/::Q<RAD@R@!_5O_P &
M_P#^P,? _P#P1^_X*M?\%"_&NC>5X@^,O[*W[1?P1^"]Q>6ZB:W^&O@_X?>(
M;SXB:_I[20AUM_%GC>WL?#S31R8:/P'>P_ZJZFW_ ,V/_!,C]DK]CK]KCXD?
M$?PI^V3^W'X8_87\'^%/ ]KXB\)>-O$_AZR\0V_C7Q'-KMGIL_A:U@OM<T**
M">VTR>XU9I%N)I6CMBB0XWNO]?\ _P $2/\ @H%IW[1G_!OG_P % ?V//%%[
M80_%+]C+]EK]H/3=%LXTM[6YU_X(^.O /CG6O">LK;P1Q"YN/#GB6;Q%X7U:
MZ"M(MNOAJ:\=[K43-+_)Q_P20_85_9-_;O\ BO\ %3P/^UK^VMX3_8E\*^"?
MAY9^*_"OC/Q7+X,AM?&/B&X\26&CS>&;4^-?%/A6R:>WTVZN-69;.ZN;LQV_
M^I2(/(H!]!_\%]O@)\/_ -F'XJ_L)? OX4?%>#XZ_#/P/_P3P^$4G@+XR6NF
M6VCVGQ(\*>,/BG\;/'NB^*;+3;.^U.WM;"^M/%*"Q6*_NO.M8X;EY/.G=$_O
ME^-?[ ?Q:^.'@SX-_$'P%I<GCCPKX_\ V<?@!;ZWI&B>-M"\!^._"_BOP%\#
MO&O@?0+!=2\56SZ)K'P>\3Z?\4+J\\8:3I^H:;XLTG4+/4[OP]#>WGB%+S1/
MX7_^#DWPK\-/ /[1W[$?P\^#7Q3T7XW_  L^&W_!-G]G#X:>!_B]X>O-(O\
M1OB+HGPZUSXD^"X_%%E=:!>ZCHI-_<Z'<?:H--OKJUL[R.YLTG=H7K_3&_85
M_;(_9-^.7PL^#7PN^#7[2?P1^*OQ&\-_ CX=7VO^!_ 'Q+\)>*_%6C6>C^$_
M#6EZK=ZEH>C:I>:C9P:;J5S;V-]+<6T:VEY-%;3^7,X2@#\0/&__  ;M?%KX
MK^-/%_Q2\1?'KX,^ O$'Q*\4:_X_UWP-X6^%6IZ_X8\&:SXQU6[\1:GX3\.:
M[J>K:=J6M:#X=O=1GT?2-6U#3[&^U'3[.WO+NSM9YI($*_K HH _R=O^#4=$
M\<_\%K/!&J^)E&HW>J?"+]I'6+]I -ES>ZYX(U"SU-Y%.<K<P:Q?HP!!_??>
MX.?5O^#8WX>^%A_P< ^(]->P\VT^&/A_]K6]\(QRE'%C=:?=7?@JTFD'EA9'
MAT+7M1A0JL>R>2.=-IC5:** /R ^$_CKQ'\*_CK_ ,%.'\&7@TR36_V?OVM?
MAU>R@.91X7\5?%3PKH6LVL+QR1-%+<Z7));"7+!%D?\ =MGC]YO^#0;]B/\
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0@]>=HS110!_J&4444 ?_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
