NEW YORK (Standard & Poor's) Dec. 21, 2005--Standard & Poor's Ratings Services said today it assigned its preliminary 'BBB-' senior debt, 'BB+' subordinated debt, and 'BB' preferred stock ratings to Markel Corp.'s (NYSE:MKL) recently filed universal shelf. The new shelf has an undesignated notional amount in accordance with the new SEC rules effective Dec. 1, 2005. At the same time, Standard & Poor's affirmed its 'BBB-' counterparty credit rating on Markel. The outlook remains stable. "The counterparty credit rating on Markel reflects several strengths including its very strong business position and operating performance (excluding a large hurricane loss in third-quarter 2005) in some of its operating segments and its geographic diversification," explained Standard & Poor's credit analyst Jason Jones. "Partially
