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August 9, 2012 10:30 AM ET
Tom Gayner – President and Chief Investment Officer
Anne Waleski – VP and CFO
Richie Whitt – President and Co-COO
Mike Crowley – President and Co-COO
Mark Hughes – SunTrust
Jay Cohen – Bank of America
Dave West – Davenport
Scott Heleniak – RBC Capital Markets
Ron Bobman – Capital Returns
Meyer Shields – Stifel, Nicolaus
Adam Klauber – William Blair
Greetings and welcome to the Markel Corporation Second 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, Mr. Tom Gayner, President of Markel Corporation. Thank you, Mr. Gayner. You may begin.
Thank you, Manny. I appreciate it. Good morning and welcome, everyone, to the Markel Corporation’s second quarter conference call. We’re pleased that you’re joining us as we all look forward to sharing the good news of our substantial year-to-date progress in 2012 and building the value of your company.
Over the past several years, we’ve been telling you about the transformation underway at Markel. We’ve told you about the growth of our insurance operations through entry into new geographical areas, our new products, and our acquisitions. We’ve told you about our focus on improving the operating efficiencies in our business and how we’ve restructured the company to increase our revenues from existing customers.