Markel Corporation announced that it will change its name to Markel Group Inc. this Friday, May 26.
The reason for this change is to give a greater definition to the nature of their holding company. It includes three insurance engines, investments, and a group of different businesses of Markel Ventures.
Tom Gayner the Chief Executive Officer commented, “Over the past 93 years, Markel has grown from a regional transportation insurer to a global Fortune 500 family of companies and investments. Due to the nature of this evolution , we use the name Markel to refer 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 move forward to grow each of our three machines.
For this reason, Markel Group 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 impact.
Gayner added, “We chose the name Markel Group because even though we have many different businesses run by 20,000 people around the world, we are all part of the same group and we share the values of Markel Style. Together, our three engines form a connected system uniquely equipped to help our customers, partners, and shareholders win over the long term.
For nearly a century the company’s global specialty insurance business has operated under the Markel name and will continue to do so. Its main website will remain markel.com.
The Markel Group Inc. a diverse family of companies that includes everything from insurance to bakery equipment, building materials, house plants, and more.