<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 AND 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>
<RESTATED>
<MULTIPLIER> 1,000
       
                                                                                     
<PERIOD-TYPE>                         YEAR                  9-MOS                   6-MOS              3-MOS
<FISCAL-YEAR-END>              DEC-31-1996            DEC-31-1996             DEC-31-1996        DEC-31-1996
<PERIOD-END>                   DEC-31-1996            SEP-30-1996             JUN-30-1996        MAR-31-1996
<DEBT-HELD-FOR-SALE>               885,874                709,070                 692,417            725,241
<DEBT-CARRYING-VALUE>                    0                      0                       0                  0
<DEBT-MARKET-VALUE>                      0                      0                       0                  0
<EQUITIES>                         193,395                175,690                 164,713            152,471
<MORTGAGE>                               0                      0                       0                  0
<REAL-ESTATE>                            0                      0                       0                  0
<TOTAL-INVEST>                   1,130,776                956,417                 908,912            914,197
<CASH>                              11,054                 16,252                  20,377             18,699
<RECOVER-REINSURE>                  11,631                 11,657                  16,900             12,074
<DEFERRED-ACQUISITION>              37,979                 35,336                  33,403             32,584
<TOTAL-ASSETS>                   1,605,297              1,388,136               1,354,593          1,319,458
<POLICY-LOSSES>                    935,582                766,139                 751,266            750,685
<UNEARNED-PREMIUMS>                200,870                187,410                 178,821            166,131
<POLICY-OTHER>                           0                      0                       0                  0
<POLICY-HOLDER-FUNDS>                    0                      0                       0                  0
<NOTES-PAYABLE>                    114,691                 99,678                  99,665            106,702
<COMMON>                            24,347                 23,970                  23,199             23,167
<PREFERRED-MANDATORY>                    0                      0                       0                  0
<PREFERRED>                              0                      0                       0                  0
<OTHER-SE>                         243,988                223,848                 209,131            186,399
<TOTAL-LIABILITY-AND-EQUITY>     1,605,297              1,388,136               1,354,593          1,319,458
<PREMIUMS>                         307,453                225,051                 148,190             76,797
<INVESTMENT-INCOME>                 51,168                 36,500                  24,137             12,284
<INVESTMENT-GAINS>                   5,013                  2,956                   2,507              2,974
<OTHER-INCOME>                       3,102                  2,522                   1,828                935
<BENEFITS>                         202,378                151,471                 100,879             54,552
<UNDERWRITING-AMORTIZATION>         70,372                 54,862                  36,204             18,135
<UNDERWRITING-OTHER>                34,660                 19,730                  12,615              6,595
<INCOME-PRETAX>                     37,000                 31,815                  20,671             10,554
<INCOME-TAX>                        (9,672)               (10,554)                (13,229)             2,744
<INCOME-CONTINUING>                 46,672                 42,369                  33,900              7,810
<DISCONTINUED>                           0                      0                       0                  0
<EXTRAORDINARY>                          0                      0                       0                  0
<CHANGES>                                0                      0                       0                  0
<NET-INCOME>                        46,672                 42,369                  33,900              7,810
<EPS-PRIMARY>                         8.58                   7.80                    6.25               1.44<F1>
<EPS-DILUTED>                         8.30                   7.51                    5.99               1.38<F1>
<RESERVE-OPEN>                     699,311                      0                       0                  0
<PROVISION-CURRENT>                226,495                      0                       0                  0
<PROVISION-PRIOR>                  (24,117)                     0                       0                  0
<PAYMENTS-CURRENT>                  52,158                      0                       0                  0
<PAYMENTS-PRIOR>                   124,467                      0                       0                  0
<RESERVE-CLOSE>                    725,064                      0                       0                  0
<CUMULATIVE-DEFICIENCY>            (24,117)                     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>