<ARTICLE> 7 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS CONTAINED IN THE FORM 10-Q FOR EACH QUARTERLY PERIOD ENDED AS SHOWN FOR MARKEL CORPORATION AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <RESTATED> <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS 6-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997 <PERIOD-END> SEP-30-1997 JUN-30-1997 MAR-31-1997 <DEBT-HELD-FOR-SALE> 1,025,063 982,664 948,881 <DEBT-CARRYING-VALUE> 0 0 0 <DEBT-MARKET-VALUE> 0 0 0 <EQUITIES> 256,520 237,915 205,173 <MORTGAGE> 0 0 0 <REAL-ESTATE> 0 0 0 <TOTAL-INVEST> 1,389,101 1,331,525 1,273,937 <CASH> 886 1,183 278 <RECOVER-REINSURE> 15,652 13,225 10,917 <DEFERRED-ACQUISITION> 37,427 36,586 36,768 <TOTAL-ASSETS> 1,843,694 1,792,051 1,732,567 <POLICY-LOSSES> 963,985 956,045 937,366 <UNEARNED-PREMIUMS> 196,218 193,101 190,764 <POLICY-OTHER> 0 0 0 <POLICY-HOLDER-FUNDS> 0 0 0 <NOTES-PAYABLE> 93,153 93,140 99,704 <COMMON> 24,606 24,531 24,478 <PREFERRED-MANDATORY> 0 0 0 <PREFERRED> 0 0 0 <OTHER-SE> 317,418 284,676 247,066 <TOTAL-LIABILITY-AND-EQUITY> 1,843,694 1,792,051 1,732,567 <PREMIUMS> 250,453 165,803 81,671 <INVESTMENT-INCOME> 50,944 33,503 16,706 <INVESTMENT-GAINS> 8,117 (160) (578) <OTHER-INCOME> 1,271 1,027 674 <BENEFITS> 161,469 107,156 52,650 <UNDERWRITING-AMORTIZATION> 60,675 40,348 19,802 <UNDERWRITING-OTHER> 26,265 16,878 8,512 <INCOME-PRETAX> 45,393 24,354 11,878 <INCOME-TAX> 10,893 5,842 3,088 <INCOME-CONTINUING> 34,500 18,512 8,790 <DISCONTINUED> 0 0 0 <EXTRAORDINARY> 0 0 0 <CHANGES> 0 0 0 <NET-INCOME> 34,500 18,512 8,790 <EPS-PRIMARY> 6.29 3.38 1.61<F1> <EPS-DILUTED> 6.10 3.28 1.56<F1> <RESERVE-OPEN> 0 0 0 <PROVISION-CURRENT> 0 0 0 <PROVISION-PRIOR> 0 0 0 <PAYMENTS-CURRENT> 0 0 0 <PAYMENTS-PRIOR> 0 0 0 <RESERVE-CLOSE> 0 0 0 <CUMULATIVE-DEFICIENCY> 0 0 0 <FN> Markel adopted Statement of Financial Accounting Standards No. 128 "Earnings Per Share" effective December 31, 1997. The Financial Data Schedule tags <EPS PRIMARY> and <EPS DILUTED> refer to Basic EPS and Diluted EPS, respectively, as these terms are set forth in Statement of Financial Accounting Standards No. 128. </FN>