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Markel (MKL) to Acquire Brahmin Through Markel Venture
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Markel Corporation (MKL - Free Report) has agreed to buy a majority stake in Brahmin, a maker of fashion leather handbags. The acquisition is expected to culminate in the fourth quarter of 2018. Shares of the company inched up 0.03% in the last couple of trading sessions.
Brahmin has been into operations for over three decades and has built a wholesale distribution besides growing its direct-to-consumer business.
Markel has been strategically investing in profitable business beyond insurance space through its subsidiary Markel Ventures. The subsidiary owns and operates a host of companies ranging from manufacturing, consumer, business services, financial services to healthcare sectors.
In second-quarter 2018, the company announced formation of Rosemont Investment Group as part of Markel Ventures. With regard to this business, the company will be pumping resources into owning the best asset management firms.
Apart from Markel Ventures, Markel has Markel CATCo, a specialist asset manager that creates and manages a series of innovative insurance-linked investment funds. Markel will continue to chip in about $200 million in the Markel CATCo funds.
Strategic acquisitions have helped Markel ramp up its growth profile, enhance its surety capabilities, accelerate Markel Ventures’ revenues and expand its reinsurance product offerings as well. This Zacks Rank #3 (Hold) insurer has been pursuing buyouts to achieve profitable growth in insurance operations and create an additional value on a diversified basis in Markel Ventures operations.
Markel continues to deliver solid results, banking on its firm underwriting, investment and Markel Ventures business. Year to date, shares of Markel have gained 5.7%, underperforming the industry’s increase of 9.5%. We believe, the company stands to benefit from insurance, investments and Markel Ventures, which position it well for long-term growth.
Insurers on Integration Spree
Given the insurance industry’s all-time high available capital resource, there has been a conscious craze for acquisitions in the space of late. Recently, Brown & Brown of Florida, Inc., a unit of Brown & Brown, Inc. (BRO - Free Report) bought Vandroff Insurance Agency, Inc. to improve its service portfolio. Arthur J. Gallagher & Co. (AJG - Free Report) acquired Rogers & Young Insurance Services, LLC. to consolidate its capabilities for better serving its customers. Last month, Berkshire Hathaway Inc. (BRK.B - Free Report) purchased a stake worth $356 million in Paytm’s parent One97 Communications in a bid to penetrate into the financial payments sector in India per news sources.
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Markel (MKL) to Acquire Brahmin Through Markel Venture
Markel Corporation (MKL - Free Report) has agreed to buy a majority stake in Brahmin, a maker of fashion leather handbags. The acquisition is expected to culminate in the fourth quarter of 2018. Shares of the company inched up 0.03% in the last couple of trading sessions.
Brahmin has been into operations for over three decades and has built a wholesale distribution besides growing its direct-to-consumer business.
Markel has been strategically investing in profitable business beyond insurance space through its subsidiary Markel Ventures. The subsidiary owns and operates a host of companies ranging from manufacturing, consumer, business services, financial services to healthcare sectors.
In second-quarter 2018, the company announced formation of Rosemont Investment Group as part of Markel Ventures. With regard to this business, the company will be pumping resources into owning the best asset management firms.
Apart from Markel Ventures, Markel has Markel CATCo, a specialist asset manager that creates and manages a series of innovative insurance-linked investment funds. Markel will continue to chip in about $200 million in the Markel CATCo funds.
Strategic acquisitions have helped Markel ramp up its growth profile, enhance its surety capabilities, accelerate Markel Ventures’ revenues and expand its reinsurance product offerings as well. This Zacks Rank #3 (Hold) insurer has been pursuing buyouts to achieve profitable growth in insurance operations and create an additional value on a diversified basis in Markel Ventures operations.
Markel continues to deliver solid results, banking on its firm underwriting, investment and Markel Ventures business. Year to date, shares of Markel have gained 5.7%, underperforming the industry’s increase of 9.5%. We believe, the company stands to benefit from insurance, investments and Markel Ventures, which position it well for long-term growth.
Insurers on Integration Spree
Given the insurance industry’s all-time high available capital resource, there has been a conscious craze for acquisitions in the space of late. Recently, Brown & Brown of Florida, Inc., a unit of Brown & Brown, Inc. (BRO - Free Report) bought Vandroff Insurance Agency, Inc. to improve its service portfolio. Arthur J. Gallagher & Co. (AJG - Free Report) acquired Rogers & Young Insurance Services, LLC. to consolidate its capabilities for better serving its customers. Last month, Berkshire Hathaway Inc. (BRK.B - Free Report) purchased a stake worth $356 million in Paytm’s parent One97 Communications in a bid to penetrate into the financial payments sector in India per news sources.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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