AM Best has assigned a Long-Term Issue Credit Rating of “bbb-” to the recently announced $600 million 6.0% non-cumulative preferred stock issued by Markel Corporation (Markel) (Glen Allen, VA) [NYSE: MKL]. The outlook assigned to this Credit Rating (rating) is stable.

Proceeds from the offering will be used for general corporate purposes. Markel maintains financial leverage and coverage measures that are within AM Best’s guidelines for this rating. All other existing ratings of Markel and its subsidiaries remain unchanged.

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