MARKEL GROUP INC. — Director's Dealing 2011

Nov 15, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MARKEL CORP (MKL)
CIK: 0001096343
Period of Report: 2011-08-24

Reporting Person: MARKEL STEVEN A (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-24	Common Stock	G	1500	—	Disposed	161415	Direct
2011-10-03	Common Stock	G	2800	—	Disposed	158615	Direct
2011-11-07	Common Stock	G	6500	—	Disposed	143635	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1953.927	Indirect
Common Stock	58058	Indirect
Common Stock	4375	Indirect
Common Stock	15000	Indirect

Footnotes

F1: End of period holdings also reflect change in form of beneficial ownership by reason of distributions to Mr. Markel of 11,520 shares from GRATS and a contribution by Mr. Markel of 20,000 shares to a GRAT.

F2: Holdings under the Markel Corporation 401(K) Plan are reported in units. The information reported herein is based on a plan statement dated as of September 30, 2011 and utilizes the closing stock price on that date of $357.13. As of 9/30/2011, a unit under the Plan represented one share of Common Stock.

F3: Mr. Markel is a Trustee and partial beneficiary of four Grantor Retained Annuity Trusts. The total reported represents the aggregate of the trusts.

F4: Mr. Markel is trustee and retains a partial interest in the trust. The amount reported reflects all the securities held by the trust, but Mr. Markel disclaims beneficial ownership except with respect to his interest in the trust.

F5: Beneficial ownership of securities is expressly disclaimed.