Markel Announces Share Repurchase Authorization

RICHMOND, Va., Dec. 1, 2010 /PRNewswire-FirstCall/ -- Markel Corporation (NYSE: MKL) announced today that its board of directors has authorized a new share repurchase program covering purchases up to $200 million.  The program replaces a similar program initially authorized in August 2005 under which approximately $179 million of the Company's common stock was repurchased over the last five 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 Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets.  In each of these markets, the Company 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 profits and superior investment returns to build shareholder value.

SOURCE Markel Corporation

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