Markel Corporation has reported its financial results for the second quarter of 2012, including diluted net income per share of $8.42.
This is well over double the $3.11 diluted net income per share the firm achieved in the corresponding period last year, and is also significantly higher than the $5.92 diluted net income per share it made in the first quarter of 2012.
In the first six months of the year diluted net income per share was $14.35, more than threefold the $3.95 that the firm made in the first half of 2011.
The combined ratio fell, year-on-year, from 103% in Q2 2011 to 87%, with the biannual combined ratio declining from 107% to 93%.
Chairman and Chief Executive Officer Alan I. Kirshner said that Markel was pleased with its 2012 results, adding that the acquisitions that had been made in the first half of the year would add intrinsic value to the business.