<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 September 30, 1998 for Markel Corporation and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> SEP-30-1998 <DEBT-HELD-FOR-SALE> 1,115,280 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 281,981 <MORTGAGE> 0 <REAL-ESTATE> 0 <TOTAL-INVEST> 1,462,860 <CASH> 1,367 <RECOVER-REINSURE> 17,844 <DEFERRED-ACQUISITION> 42,338 <TOTAL-ASSETS> 1,909,400 <POLICY-LOSSES> 943,738 <UNEARNED-PREMIUMS> 211,076 <POLICY-OTHER> 0 <POLICY-HOLDER-FUNDS> 0 <NOTES-PAYABLE> 93,205 <PREFERRED-MANDATORY><F1> 0 <PREFERRED> 0 <COMMON> 25,213 <OTHER-SE> 378,933 <TOTAL-LIABILITY-AND-EQUITY> 1,909,400 <PREMIUMS> 248,089 <INVESTMENT-INCOME> 53,137 <INVESTMENT-GAINS> 11,434 <OTHER-INCOME> 665 <BENEFITS> 157,293 <UNDERWRITING-AMORTIZATION> 60,611 <UNDERWRITING-OTHER> 26,143 <INCOME-PRETAX> 52,463 <INCOME-TAX> 12,591 <INCOME-CONTINUING> 39,872 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 39,872 <EPS-PRIMARY><F2> 7.25 <EPS-DILUTED><F2> 7.07 <RESERVE-OPEN> 0 <PROVISION-CURRENT><F3> 0 <PROVISION-PRIOR><F3> 0 <PAYMENTS-CURRENT><F3> 0 <PAYMENTS-PRIOR><F3> 0 <RESERVE-CLOSE><F3> 0 <CUMULATIVE-DEFICIENCY><F3> 0 <FN> <F1> Does not include Company-Obligated Mandatorily Redeemable Preferred Capital Securities of Subsidiary Trust Holding Solely Junior Subordinated Deferrable Interest Debentures of Markel Corporation. <F2> Markel adopted Statement of Financial Accounting Standards No. 128 "Earnings Per Share" effective December 31, 1997. The Financial Data Schedules 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. <F3> Available on an annual basis only. </FN>