<ARTICLE> 7 <LEGEND> This schedule contains summary financial information extracted from the consolidated financial statements contained in the Form 10-K for the year ended December 31, 1996 for Markel Corporation and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <DEBT-HELD-FOR-SALE> 885,874 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 193,395 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,130,776 <CASH> 11,054 <RECOVER-REINSURE> 11,631 <DEFERRED-ACQUISITION> 37,979 <TOTAL-ASSETS> 1,605,297 <POLICY-LOSSES> 935,582 <UNEARNED-PREMIUMS> 200,852 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 114,691 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 24,347 <OTHER-SE> 243,988 <TOTAL-LIABILITY-AND-EQUITY> 1,605,297 <PREMIUMS> 307,453 <INVESTMENT-INCOME> 51,168 <INVESTMENT-GAINS> 5,013 <OTHER-INCOME> 3,102 <BENEFITS> 202,378 <UNDERWRITING-AMORTIZATION> 70,372 <UNDERWRITING-OTHER> 34,660 <INCOME-PRETAX> 37,000 <INCOME-TAX> (9,672) <INCOME-CONTINUING> 46,672 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 46,672 <EPS-PRIMARY> 8.30 <EPS-DILUTED> 8.29 <RESERVE-OPEN> 699,311 <PROVISION-CURRENT> 226,495 <PROVISION-PRIOR> (24,117) <PAYMENTS-CURRENT> 52,158 <PAYMENTS-PRIOR> 124,467 <RESERVE-CLOSE> 725,064 <CUMULATIVE-DEFICIENCY> (24,117)