Markel (MKL): A Compounding Machine

Posted on 42 CommentsPosted in Industry-Insurance, Investment Ideas & Company Research

“Our financial goals are to earn consistent underwriting profits and superior investment returns to build shareholder value” – Markel 2013 Annual Report Markel is an outstanding business currently in its 85th year of operations. It is an excellent insurance company with a history of underwriting profits. It is also a superb investment company with a history of above average investment returns. Markel had an outstanding year in 2013, basically doubling the size of its insurance business and investment portfolio in […]

Markel (MKL) is a Compounding Machine

Posted on Leave a commentPosted in Investment Ideas & Company Research, Investment Philosophy, Shareholder Letters & Reports, Superinvestors

A couple weeks back I wrote a quick post on Tom Gayner, who is an outstanding investor and head of Markel (MKL), one of my favorite companies in America. Markel is a well run insurance company that has been compounding shareholder equity consistently at about 16% per year over the past 20 years. MKL operates with a similar business model to that of Berkshire Hathaway: Write insurance policies to collect premiums Invest the float Insurance companies make money in those […]

Markel’s Tom Gayner Has 4 Main Investment Principles

Posted on 3 CommentsPosted in Investment Philosophy, Superinvestors

I’ve been doing some research this week on insurance as there are a number of stocks in this industry on my watchlist. Yesterday I went through the Value Line list of life insurers, many of which are selling well below book value. I’ll be taking a look at a few of these in more detail soon. Of course, insurance is a business that Warren Buffett has used as a foundation at Berkshire to build his investment fortune. But there is […]