Markel adds $553 mln to shelf registration for $650 mln availability

New York, Oct. 22 - Market Corp. added $553 million to its shelf registration with the Securities and Exchange Commission for total availability of $650 million.

The registration covers debt securities, preferred stock, common stock ,warrants, share purchase units, share purchase contracts and trust preferred securities along with common stock and preferred stock that may be issued on conversion of other securities.

Markel, a Glen Allen, Va. specialty insurance company, said it will use proceeds Trust to increase the capital of its insurance operations, to repay or refinance debt, to fund working capital and for other general corporate purposes, including acquisitions.

For the six months to June 30, 2001, Markel had an earnings to fixed charge ratio of 1.5:1 compared to a deficiency of $51.8 million for all of 2000.

The registration also includes 235,000 shares to be sold by various officers of the company.

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