GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported second-quarter profit of $278.6 million.

On a per-share basis, the Glen Allen, Virginia-based company said it had profit of $19.97.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $8.49 per share.

The insurer posted revenue of $1.99 billion in the period. Its adjusted revenue was $1.88 billion, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.68 billion.

Markel shares have increased nearly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $1,171.48, a rise of slightly more than 9 percent in the last 12 months.


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