NEW YORK (Standard&Poor's) Feb. 6, 2007--Standard&Poor's Ratings Services said today it affirmed its 'BBB-' counterparty credit rating on Markel Corp. In addition, Standard&Poor's affirmed its 'BB' preferred stock and preliminary 'BB+' subordinated debt ratings on Markel and revised the outlook to positive from stable. "The outlook revision is based on continued improvements at Markel's London Insurance Market segment and improvements in property-catastrophe risk management since the hurricane season of 2005," said Standard&Poor's credit analyst Jason Jones. "Although Markel's core strength remains in North America, the London Insurance Market has made steady improvements in underwriting performance such that it has obtained underwriting profits for the past three quarters of 2006 and is expected
