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Markel Corporation (Parent Company Only) Financial Information (Tables)
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule Of Condensed Balance Sheets
CONDENSED BALANCE SHEETS

 
December 31,
 
2015
 
2014
 
(dollars in thousands)
ASSETS
 
 
 
Investments, available-for-sale, at estimated fair value:
 
 
 
Fixed maturities (amortized cost of $35,475 in 2015 and $47,346 in 2014)
$
36,618

 
$
48,807

Equity securities (cost of $204,289 in 2015 and $193,864 in 2014)
311,405

 
434,714

Short-term investments (estimated fair value approximates cost)
755,619

 
764,953

Total Investments
1,103,642

 
1,248,474

Cash and cash equivalents
460,271

 
243,702

Restricted cash and cash equivalents
670

 
959

Receivables
17,200

 
16,110

Investments in consolidated subsidiaries
7,961,315

 
7,560,862

Notes receivable from subsidiaries
212,636

 
212,631

Income taxes receivable
—

 
10,951

Other assets
91,151

 
93,434

Total Assets
$
9,846,885

 
$
9,387,123

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
Senior long-term debt
$
1,634,472

 
$
1,635,173

Notes payable to subsidiaries
300,000

 
15,000

Income taxes payable
4,262

 
—

Net deferred tax liability
7,498

 
74,534

Other liabilities
66,503

 
67,598

Total Liabilities
2,012,735

 
1,792,305

Total Shareholders' Equity
7,834,150

 
7,594,818

Total Liabilities and Shareholders' Equity
$
9,846,885

 
$
9,387,123
Schedule Of Condensed Statements Of Income And Comprehensive Income
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(dollars in thousands)
REVENUES
 
 
 
 
 
Net investment income
$
2,565

 
$
5,354

 
$
21,946

Dividends on common stock of consolidated subsidiaries
187,496

 
217,121

 
806,233

Net realized investment gains:
 
 
 
 
 
Other-than-temporary impairment losses
(3,455
)
 
(120
)
 
(15
)
Net realized investment gains, excluding other-than-temporary impairment losses
75,000

 
3,873

 
67,232

Net realized investment gains
71,545

 
3,753

 
67,217

Other
—

 
—

 
1

Total Revenues
261,606

 
226,228

 
895,397

EXPENSES
 
 
 
 
 
Interest expense
95,620

 
94,097

 
92,743

Other expenses
11,287

 
2,685

 
2,617

Total Expenses
106,907

 
96,782

 
95,360

Income Before Equity in Undistributed Earnings of Consolidated Subsidiaries and Income Taxes
154,699

 
129,446

 
800,037

Equity in undistributed earnings of consolidated subsidiaries
407,489

 
163,341

 
(520,323
)
Income tax benefit
(20,584
)
 
(28,395
)
 
(1,307
)
Net Income to Shareholders
$
582,772

 
$
321,182

 
$
281,021

OTHER COMPREHENSIVE INCOME (LOSS) TO SHAREHOLDERS
 
 
 
 
 
Change in net unrealized gains on investments, net of taxes:
 
 
 
 
 
Net holding gains (losses) arising during the period
$
(41,861
)
 
$
32,118

 
$
66,623

Consolidated subsidiaries' net holding gains (losses) arising during the period
(198,309
)
 
655,617

 
158,922

Consolidated subsidiaries' change in unrealized other-than-temporary impairment losses on fixed maturities arising during the period
160

 
173

 
(141
)
Reclassification adjustments for net losses included in net income to shareholders
(45,273
)
 
(1,874
)
 
(43,220
)
Consolidated subsidiaries' reclassification adjustments for net gains (losses) included in net income to shareholders
(35,209
)
 
(24,287
)
 
2,390

Change in net unrealized gains on investments, net of taxes
(320,492
)
 
661,747

 
184,574

Change in foreign currency translation adjustments, net of taxes
2,970

 
1,949

 
(2,670
)
Consolidated subsidiaries' change in foreign currency translation adjustments, net of taxes
(32,175
)
 
(34,194
)
 
(7,501
)
Consolidated subsidiaries' change in net actuarial pension loss, net of taxes
(352
)
 
(14,750
)
 
4,065

Total Other Comprehensive Income (Loss) to Shareholders
(350,049
)
 
614,752

 
178,468

Comprehensive Income to Shareholders
$
232,723

 
$
935,934

 
$
459,489
Schedule Of Condensed Statements Of Cash Flows
CONDENSED STATEMENTS OF CASH FLOWS

 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(dollars in thousands)
OPERATING ACTIVITIES
 
 
 
 
 
Net income to shareholders
$
582,772

 
$
321,182

 
$
281,021

Adjustments to reconcile net income to shareholders to net cash provided by operating activities
(464,193
)
 
(218,396
)
 
186,574

Net Cash Provided By Operating Activities
118,579

 
102,786

 
467,595

INVESTING ACTIVITIES
 
 
 
 
 
Proceeds from sales of fixed maturities and equity securities
100,633

 
9,306

 
142,259

Proceeds from maturities, calls and prepayments of fixed maturities
24,945

 
15,710

 
2,819

Cost of fixed maturities and equity securities purchased
(55,656
)
 
(687
)
 
(23,412
)
Net change in short-term investments
9,956

 
(109,728
)
 
10,251

Securities received from subsidiaries as dividends or repayment of notes receivable
—

 
89,996

 
249,996

Decrease in notes receivable due from subsidiaries
—

 
28,506

 
5,302

Capital contributions to subsidiaries
(228,578
)
 
(74,788
)
 
(67,878
)
Acquisitions
—

 
—

 
(1,017,988
)
Cost of equity method investments
(13,164
)
 
—

 
(5,291
)
Change in restricted cash and cash equivalents
289

 
51

 
(348
)
Additions to property and equipment
(305
)
 
(342
)
 
(3,653
)
Other
(376
)
 
(2,150
)
 
3,207

Net Cash Used By Investing Activities
(162,256
)
 
(44,126
)
 
(704,736
)
FINANCING ACTIVITIES
 
 
 
 
 
Additions to senior long-term debt
—

 
—

 
491,235

Increase in notes payable to subsidiaries
285,000

 
—

 
—

Repayment and retirement of senior long-term debt
(2,000
)
 
—

 
(246,665
)
Repurchases of common stock
(31,491
)
 
(26,053
)
 
(57,388
)
Issuance of common stock
4,752

 
5,691

 
24,518

Other
3,985

 
(1,948
)
 
(5,023
)
Net Cash Provided (Used) By Financing Activities
260,246

 
(22,310
)
 
206,677

Increase (decrease) in cash and cash equivalents
216,569

 
36,350

 
(30,464
)
Cash and cash equivalents at beginning of year
243,702

 
207,352

 
237,816

CASH AND CASH EQUIVALENTS AT END OF YEAR
$
460,271

 
$
243,702

 
$
207,352