MARKEL GROUP INC. — Director's Dealing 2012

Feb 13, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MARKEL CORP (MKL)
CIK: 0001096343
Period of Report: 2011-11-22

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-22	Common Stock	G	12800	—	Disposed	118335	Direct
2011-12-05	Common Stock	G	2000	—	Disposed	116335	Direct
2011-12-14	Common Stock	G	500	—	Disposed	3875	Indirect

Holdings (Non-Derivative)

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

Footnotes

F1: 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.

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 December 30, 2011 and utilizes the closing stock price on that date of $414.67. As of 12/30/2011, 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: Beneficial ownership of securities is expressly disclaimed.