MARKEL GROUP INC. — Director's Dealing 2011

Feb 25, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MARKEL CORP (MKL)
CIK: 0001096343
Period of Report: 2011-02-23

Reporting Person: Whitt Richard R III (President & Co-COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-23	Common Stock	A	1071	—	Acquired	9259.7496	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1885.554	Indirect

Footnotes

F1: Restricted stock units awarded pursuant to the Markel Corporation Omnibus Incentive Plan. Restricted stock units will vest on December 31, 2015.

F2: The total includes 2,780 Restricted Stock Units awarded pursuant to the Markel Corporation Omnibus Incentive Plan. Subject to certain conditions, twenty percent of these restricted stock units will vest on May 10, 2011, and the balance will vest on May 10, 2015. The total also includes 3,639 other restricted stock units awarded pursuant to the Markel Corporation Omnibus Incentive Plan, of which 1,204 units will vest on December 31, 2011, 1,364 units will vest on December 31, 2012, and 1,071 units will vest on December 31, 2015.

F3: 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 December 31, 2010 and utilizes the closing stock price on that date of $378.13. As of December 31, 2010, a unit under the Plan represented one share of Common Stock.