Markel Corporation (MKL-NYSE) is an international property and casualty insurance holding company headquartered in Richmond, VA. Markel sell specialty insurance products and programs to a variety of niche markets and believe that their specialty product focus and niche market strategy enable them to develop expertise and specialized market knowledge. Markel seek to differentiate themselves from competitors by reason of their expertise, service, continuity and other value-based considerations. Their financial goals are to earn consistent underwriting profits and superior investment returns to build shareholder value.To reach their financial and operational goals, they must have extensive knowledge and expertise in their chosen markets. By focusing on the distinctive risk characteristics of their insureds, Markel have been able to identify a variety of niche markets where they can add value with their specialty product offerings. Examples of niche markets that Markel have targeted include: wind and earthquake exposed commercial properties, liability coverage for highly specialized professionals, horse mortality and other horse related risks, personal watercrafts, high-valued motorcycles, aviation and energy related activities. Markels' market strategy in each of these areas of specialization is tailored to the unique nature of the risk, coverage and services required by insureds. In each of their niche markets, Markel assign teams of experienced underwriters and claims specialists who can provide a full range of insurance services.
By focusing on market niches where they have underwriting expertise, Markel seek to earn consistent underwriting profits. Underwriting profits are a key component of their strategy. Markel believe that the ability to achieve consistent underwriting profits demonstrates knowledge and expertise, commitment to superior customer service and the ability to manage insurance risk.
