UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-Q/A

[ X ] Quarterly report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended June 30, 1998

or

[ ] Transition report pursuant to section 13 or 15(d) of the Securities Exchange
Act of 1934 for the transition period from _____ to _____

Commission File Number 1-13051

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

                 Virginia                                    54-0292420
     (State or other jurisdiction of                      (I.R.S. employer
     incorporation or organization)                   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)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.

Yes [ X ]   No [   ]

Number of shares of the registrant's common stock outstanding at July 28, 1998:
5,503,212



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                               Markel Corporation
                                   Form 10-Q/A

                                      Index


                                                                     Page Number

PART II. OTHER INFORMATION:

         Item 6. Exhibits and Reports on Form 8-K                        3















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PART II. OTHER INFORMATION



Item 6. Exhibits and Reports on Form 8-K

(a) Exhibits.

The Exhibits to this Report are listed in the Exhibit Index.

(b) No reports on Form 8-K were filed during the quarter ended June 30, 1998



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                                   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, thereunto duly authorized, this 13th day of August, 1998.



                                  Markel Corporation



                                   By     Darrell D. Martin
                                     -------------------------------------
                                          Darrell D. Martin
                                          Executive Vice President and
                                          Chief Financial Officer
                                          (Principal Financial Officer and
                                          Principal Accounting Officer)







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                                  Exhibit Index

    Number      Description

     27.1       Restated Financial Data Schedules for periods in 1997 *
     27.2       Restated Financial Data Schedules for periods in 1996 *
     27.3       Restated Financial Data Schedules for periods in 1995 *



* Filed electronically with the Commission's operational EDGAR system. This
amendment is being made to restate prior period Financial Data Schedules to
reflect the adoption of Statement of Financial Accounting Standards No. 128.



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