Markel Earnings, RS Insurance Favorites
One of my favorite insurers reported earnings yesterday:
You read a lot about Markel all over our Foolish universe and it really is one of my favorite investments. I went to their annual meeting this year and really got a lot out of it. Seeing as it is so close by (Richmond), I will probably start making it an annual affair. I posted up my notes from the meeting here on the blog:
A snippet from CEO Alan Kirshner in the earnings release:
"The growth in book value has benefited from the increase in value of our investment portfolio and a return to underwriting profitability. Despite a competitive market, we believe these results demonstrate our ability and commitment to build long-term shareholder value during all market cycles."
This is another one of those "buy it and hold probably forever" type investments. I do own it personally and will continue to add a little here and there on dips. Probably won't see me recommending it for this portfolio as it is so well-known already and I want to throw some new ideas out there. That said, I think a solid insurer is an essential for any portfolio and there is another one I have in mind. Any ideas who it may be? I will give you a hint...it is NOT Berkshire Hathaway.
Jason (long MKL, BRK/B)