The 2022 Reunion

It’s been over 90 years since a man named Sam Markel assembled a group of self-employed drivers in Norfolk, Virginia to try to find a way to insure their so-called jitney busses. No traditional insurer would issue the coverage because the accident rate and risks seemed too high. So, on the brink of being put out of business, the drivers decided to start their own insurance company, and they asked Sam Markel to lead it. That company would write the first public transportation insurance policy in history, and it would eventually lead to the creation of Markel a few years later.

We talk a lot about this moment because it showcases what we see as our greatest differentiator. That Markel Group was born from a dream—not to sell insurance—but to serve the needs of those around us. Whether you’re a customer, associate, or shareholder, we define our success in terms of our ability to leave you significantly better off for having been a part of Markel Group. It’s a commitment to service that fueled our evolution beyond specialty insurance into the Fortune 500 family of companies that we are today, and it’s why we believe that Markel Group will exist forever.

Of course, this is much easier said than done. In the time since Markel Group began in 1930, the average lifespan of an S&P 500 company declined from 90 years to less than 20 today. The unfortunate reality is that most companies fail, and most dreams never come to be. However, whether it’s a company, country, or cultural movement, history shows that those who serve a purpose bigger than themselves are the only ones who have the sustained motivation and direction they need to persevere in the long-term. This has been our experience at Markel Group.

It’s why every generation of Markel Group associates is willing to go above and beyond to leave this company better than they found it. And as that journey continues, we will necessarily evolve and change, but our dream—to help our customers, colleagues, and shareholders win—will always remain.

The Markel Group dream lives on.