Markel on CreditWatch Negative

The ratings on Markel Corp. and related entities were placed on CreditWatch with negative implications by S&P, which cited concerns about prospective earnings, capitalization and leverage at the holding company, Markel Corp., as key factors in the rating action. S&P added that its concerns have been driven primarily by the operations of Markel International, which continued to fall below S&P expectations. However, continuing strong performance at Markel North America partially offset those concerns.