<ARTICLE> 7 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS CONTAINED IN THE FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998 FOR MARKEL CORPORATION AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <DEBT-HELD-FOR-SALE> 1,075,112 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 300,856 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,440,623 <CASH> 1,169 <RECOVER-REINSURE> 12,108 <DEFERRED-ACQUISITION> 36,403 <TOTAL-ASSETS> 1,872,812 <POLICY-LOSSES> 950,622 <UNEARNED-PREMIUMS> 188,457 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 93,179 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 25,048 <OTHER-SE> 364,018 <TOTAL-LIABILITY-AND-EQUITY> 1,872,812 <PREMIUMS> 78,898 <INVESTMENT-INCOME> 17,570 <INVESTMENT-GAINS> 3,413 <OTHER-INCOME> 202 <BENEFITS> 49,527 <UNDERWRITING-AMORTIZATION> 18,890 <UNDERWRITING-OTHER> 9,177 <INCOME-PRETAX> 16,896 <INCOME-TAX> 4,055 <INCOME-CONTINUING> 12,841 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 12,841 <EPS-PRIMARY> 2.34 <EPS-DILUTED> 2.27 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0