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Summary
- Markel Group Inc., a diversified holding company, operates in insurance, investments, and Markel Ventures.
- Recent financial performance has been lackluster, with lower-than-expected earnings and revenue.
- Despite solid long-term growth, Markel faces challenges such as underperformance in EBITDA and cash flow, leading to a “Hold” rating.
Thesis
Markel Group Inc. (NYSE:MKL), founded in 1930 by Samuel A. Markel, began insuring jitney buses and eventually grew into a diversified holding company, currently headquartered in Glen Allen, Virginia. They went public in 1986 and soon branched out of insurance under what would come to be known as Markel Ventures—an expanding “family” of companies from luxury handbags (Brahmin) to heavy lift cranes (Buckner). Overall, Markel Group runs on three main financial engines: insurance, investments, and Markel Ventures.
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