The 2021 Reunion

The probability that an organization will exist for more than 90 years is low. Especially in the time period since 1930, which included some of the greatest economic, political, and technological disruptions in human history. In light of this, there is one question about Markel that has been asked more than any other: How has this company consistently grown since the beginning?

Given the long time horizon, it’s probably best to approach this question as an anthropologist would, by examining the four core characteristics that define history’s most durable cultures: what Markel exists to do, why we do it, who we are, and how we work to make it happen.

On the first point, Markel is on a quest to build one of the world’s great companies. It’s an enduring journey that doesn’t end because we do not define greatness in terms of growth goals or market share, but our ability to consistently serve the needs of those around us. We call this our Win-Win-Win system, as we are committed to helping our employees win by creating fulfilling and important careers, our customers win by finding everything from protection against unexpected events to an array of high-quality products and services, and our shareholders win by earning good returns on their capital.

This Win-Win-Win system isn’t just about what we do, but why we do it. Because this company was born from the belief that life’s greatest ambitions shouldn’t fade in the wake of all of the things that could go wrong. We are endlessly optimistic, and that’s why we dedicate ourselves to helping our colleagues, customers, and shareholders see and seize the future for its opportunities, and not just its challenges. We measure our success in terms of yours, and we are deeply committed to both.

As for who we are, our culture is guided by a creed that we call the Markel Style. These 214 words ensure that our greatest qualities endure across the generations of people who have been a part of Markel. It’s a creed that embraces hard work, a zealous pursuit of excellence, keeping a sense of humor, and honesty and fairness—the core qualities that guide our actions.

Lastly, there’s how we push this vision and these values forward. This is the one part of Markel’s story that has and will continue to evolve to keep pace with an increasingly complex and changing world. In our current form, we have three engines: Insurance, Investments, and Markel Ventures. Together, they form a symbiotic relationship whereby capital and ideas move freely across all three engines to create a flywheel effect that accelerates Markel’s growth. These engines power our journey to build one of the world’s great companies.

So, in answer to the question at hand, Markel has consistently grown since 1930 by never losing sight of what we are here to do, why we do it, and who we are, and we’ve continued to adapt how we work to preserve and progress those three things. This is why we believe that we can keep the idea that is Markel alive…forever, and right now.