This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

A.M. Best Affirms Ratings Of Markel Corporation And Its Domestic Subsidiaries

Stocks in this article: MKL

MKL's financial leverage remains supportive of its current ratings. MKL’s total debt-to-capital ratio as of September 30, 2012 was 28%, increasing to 35% when debt is measured relative to adjusted tangible capital. Markel’s financial leverage is expected to improve following repayment of the $250 million unsecured senior notes at their maturity on February 15, 2013.

Potential upward movement in Markel’s ratings could result from improved performance measures and operating conditions as well as sustained risk-adjusted capitalization. Downward movement could result from a material decline in its capitalization, negative trends in claim frequency or severity that could materially impair underwriting results, a significant decline in equity capital markets and its impact on the organization’s investment portfolio and capitalization, as well as any unforeseen material increase in operating expenses. Markel’s losses from Hurricane Sandy are unknown at this time and losses that exceed A.M. Best’s expectations may unfavorably impact its ratings.

The FSR of A (Excellent) and ICR of "a+" have been affirmed for the following members of Markel North America Insurance Group:

  • Associated International Insurance Company
  • Essex Insurance Company
  • Evanston Insurance Company
  • Markel American Insurance Company
  • Markel Insurance Company

The following debt ratings have been affirmed:

Markel Corporation—

-- "bbb+" on $250 million, 5.35% senior unsecured notes, due 2021

-- "bbb+" on $250 million, 6.80% senior unsecured notes, due 2013

-- "bbb+" on $350 million, 7.125% senior unsecured notes, due 2019

-- "bbb+" on $200 million, 7.35% senior unsecured notes, due 2034

-- "bbb+" on $350 million, 4.90% senior unsecured notes, due 2022

The following indicative ratings have been affirmed under the existing shelf registration:

Markel Corporation—

-- "bbb-" on preferred securities

-- "bbb" on subordinated debt

-- "bbb+" on senior unsecured debt

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs