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Markel Corporation Buyback

OLI recorded this information on 11/21/2013

Company: Markel Corporation
Buyback: MKL buyback
$Amount Authorized: $300,000,000
Buyback Details: Markel Corporation (NYSE: MKL) announced today that its board of directors has authorized a new share repurchase program covering purchases up to $300 million. The program replaces a similar program initially authorized in November 2010 under which approximately $101 million of the Company's common stock was repurchased over the last three years. Under the new program, as under the previous program, management has the discretion to purchase shares at prices that are deemed reasonable in light of circumstances at the time of purchase. Purchases are generally expected to be made through open market transactions.

Markel is a financial holding company. Co.'s main business markets and underwrites specialty insurance products. Co.'s insurance business operations include: Underwriting, which comprised of insurance and reinsurance operations; Insurance-linked securities (ILS), which include insurance and investment fund managers that provides investment products such as ILS and catastrophe bonds; and Program services, which writes insurance products including general liability insurance. Co.'s investing activities are related to its underwriting operations. Through its subsidiary, Markel Ventures, Inc. Co. owns interests in various businesses that operate outside of the specialty insurance marketplace.

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Company Name: 
Markel Corp (Holding Co)
Stock buyback: 
MKL buyback
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Buy (3.00 out of 4)
14th percentile
(ranked lower than approx. 86% of all stocks covered)

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