Markel Group Inc. late Wednesday said it would conduct a review of its business, with a focus on its specialty insurance business, after activist investor Jana Partners “shared their perspectives” on the company in December, the company said in a statement.
The Richmond, Virginia-based insurer has concluded that “the value and potential of our combined group of businesses is not fully reflected in our current stock price,” the statement said.
Jana had called on Markel to improve its insurance operations and consider a sale of its private investments business, according to news reports.
Markel will appoint external consultants to assist in the review, the insurer said.
“As part of the review we will consider ways to simplify our structure, optimize our approach to capital allocation, and enhance our disclosures,” the statement said.
