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Earnings rise at Markel Corp.

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Markel Corp. has reported diluted net income per share of $6.48 for the third quarter, an almost 8 percent rise from a year ago.

The Richmond-based specialty insurance holding company reported diluted net income per share was $12.93 for the nine months ended Sept. 30, compared with $11.02 for the same period of 2009.

Net income to shareholders was $63.25 million for the third quarter this year, compared to $59.12 million for the same period a year ago. For nine months, net income totaled $126.7 million, compared with $108.3 million.

Book value per common share outstanding rose 11 percent to $314.74 at the end of the third quarter from $282.55 at the end of last year.

The company’s combined ratio (a performance measurement for insurers which compares the sum of claims, commissions and expenses against the premiums written) was 93 percent for the third quarter 2010, compared with 96 percent a year ago. 

The combined ratio was 99 percent for the nine months, compared to 97 percent.


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