Markel is on an acquisition spree once again
Markel (NYSE:MKL) reported very good operating results in Q2 2017.
Book value/share outstanding climbed more than 6% from the end of 2016.
The combined ratio fell to a very impressive 89%.
But even more interesting this time was the acquisition activity:
After completing the acquisition of Sure Tec Financial Corporation in April, Markel now announced the acquisition of a majority interest in Costa in Miami, Florida, the largest producer of ornamental plants in the world.
And finally in July Markel announced the acquisition of the speciality property and casualty insurance services company State National (NASDAQ:SNC)
Markel’s stock trades at 1,7 times/book value per share, not cheap but perhaps a good moment to add some shares to existing positions!