Archive for May, 2013

Colfax announced public offering of common stock

May 8th, 2013 Comments off

Colfax Corp. (NYSE:CFX) announced a public offering of common stock and yesterday announced the pricing of this offering:

$ 44.25 per share

The market looks favourably at this: Colfax stock trades above this price at $ 45.40 at this moment!





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Markel is off to an excellent start in 2013!

May 2nd, 2013 Comments off

Markel (NYSE:MKL) is off to an excellent start in 2013 commented Chairman and CEO Alan I. Kirshner on Markel’s 2013 first quarter results.

So let’s have a look at it:

Diluted net income per share came in at $ 9.50 ,more than $4.18 better than analysts estimates!

The combined ratio fell from 100% last year to 91%, clearly demonstrating Markel’s underwriting discipline.

First-quarter revenue rose 12% to $820 million. A 6% increase came from revenue from insurance operations and a 67% increase came from Markel Ventures, underlining the ever growing importance of Markel Ventures within the group!

Book value per share increased 7% to $ 431.10

And after this excellent start it goes on:

Markel announced the same day that they have completed the acquisition of Alterra creating an insurance company with approximately $23 billion in combined assets and $6 billion in shareholders’ equity!

This will add 2 entirely new business segments to Markel together with their talented underwriting, claims, and support teams: Markel Global Insurance (large commercial accounts) and Markel Global Reinsurance.

But certainly of equal importance is that chief investment officer Tom Gayner has a much bigger capital basis (stockholders equity + „float“) to successfully invest than in the past!

On the earnings call CFO Anne Waleski highlighted once again the rapidly growing importance of their non-insurance operations called Markel Ventures: In Q1 2013 revenue from Markel Ventures was $162 million as compared to $97 million in 2012, now already representing 20% of total revenue of $820 millions!

Net income to shareholders from Markel Ventures „exploded“ to $4 million in 2013 compared to $200,000 in 2012.

Markel today appears more promising than ever!






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Excellent news from Markel!

May 2nd, 2013 Comments off

Markel Corp. (NYSE: MKL) released its excellent Q1 2013 earnings!

Markel also announced the completion of the Alterra acquisition, a big step ahead for Markel!

As always Seeking Alpha published the transcript of their conference call.

Have a look!


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