Even though insurance company Markel (NYSE: MKL) has been around a long time, its name is not as recognizable as some others in the industry. That's partly because it operates mostly in specialty niches and partly because it's kind of a hybrid -- part insurer, part investor. That business mix has led some to call it a "baby Berkshire."
Like Berkshire Hathaway, Markel has been a remarkably steady performer, with only one down year for its stock over the past decade and a 10-year annualized return of over 12% through 2019.
And like Berkshire, Markel has has multiple ways to generate revenue -- insurance, and investing in both publicly traded stocks and private companies. In the third quarter, Markel reported comprehensive income of $520 million, or $31.07 per share, up from $250 million in the third quarter of 2019. Let's take a closer look at Markel's business and see if it can keep winning for investors.
Source Fool.com