Markel Corporation has announced that it will change its name to Markel Group Inc. on Friday, May 26.
The reason for this change is to provide a greater definition of the nature of their holding company. This includes three engines of insurance, investments, and a group of diverse businesses in Markel Ventures.
Tom Gayner the Chief Executive Officer commented, “Over the last 93 years, Markel has evolved from a regional transportation insurer to a global Fortune 500 family of companies and investments. Given the nature of this evolution, we have used the name Markel to refer both to our specialty insurance business and our holding company. This new name for our entire group of companies will help us create greater clarity as we continue to grow each of our three engines.”
Consequently, Markel Group has launched a new website at mklgroup.com. The company will continue to trade on the New York Stock Exchange under the stock ticker symbol MKL, and there will be no significant structural or organizational impacts.
Gayner added, “We chose the name Markel Group because even though we have many different businesses powered by 20,000 people around the globe, we are all part of the same team and we share the values of the Markel Style. Together, our three engines form a connected system that is uniquely equipped to help our customers, colleagues, and shareholders win in the long term.”
For nearly a century the company’s global specialty insurance business has operated under the name Markel and will continue to do so. Its primary website will remain markel.com.
Markel Group Inc. is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more.
