UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 8-K


                                 CURRENT REPORT


     Pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported) February  5, 1997



                               MARKEL CORPORATION
             (Exact name of registrant as specified in its charter)



     Virginia                           0-15458               54-0292420
(State or other jurisdiction of       (Commission          (I.R.S. employer
incorporation or organization)        file number)      identification number)



                 4551 Cox Road, Glen Allen, Virginia 23060-3382
                    (Address of principal executive offices)
                                   (Zip code)


                                 (804) 747-0136
              (Registrant's telephone number, including area code)


                                      NONE
              (Former name, former address and former fiscal year,
                         if changed since last report)






Item 5.  Other Events

On February 5, 1997,  Markel  Corporation  released  annual  earnings  and other
information.  A copy of this  press  release is  included  as an exhibit to this
report.


     c)  Exhibits


The Exhibits listed on the Exhibit Index are filed as part of this report.



                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                               MARKEL CORPORATION


Date: February 6, 1997         By: Darrell D. Martin
                                   -----------------
                               Executive Vice President and
                               Chief Financial Officer



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                                 EXHIBIT INDEX


Exhibit No.                                                          Page No.
- -----------                                                          --------

99    Press Release dated February 5, 1997.



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