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TheStreet Open House

Markel's Management Discusses Q1 2012 Results - Earnings Call Transcript





Markel Corporation (MKL)

Q1 2012 Earnings Call

May 10, 2012 10:30 am ET

Executives

Tom Gayner - President

Anne Waleski - Chief Financial Officer

Mike Crowley - Co-President

Richie Whitt - Co-President

Analysts

Mark Hughes - Suntrust

Scott Heleniak - RBC Capital Markets

Meyer Shields - Stifel Nicolaus

John Fox - Fenimore Asset Management

Presentation

Operator

Greetings and welcome to Markel Corporation's First Quarter 2012 Earnings Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Tom Gayner. Thank you. Mr. Gayner, you may begin.

Tom Gayner - President

Thank you so much. Good morning and welcome to the Markel Corporation 2012 first quarter conference call. We are glad that you are joining us and we look forward to your thoughtful questions about our business.

As is our custom, our Chief Financial Officer, Anne Waleski, will layout the numbers from the first quarter, followed by my Co-President, Mike Crowley and Richie Whitt, would comment about our international and domestic insurance operations. I will then discuss our investment and Markel ventures operations a bit, and then we will open the floor for questions.

Before getting started, the rule says we need to repeat the Safe Harbor statement. So here it goes.

During our call today, we may make forward-looking statements. Additional information about factors that could cause actual results to differ materially from those projected in the forward-looking statements is described under the captions Risk Factors and Safe Harbor and Cautionary Statements in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

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