Markel (MKL) shares soared 7.68% in pre-market trading on Thursday, outperforming the broader market.
The surge in Markel's stock price followed the company's announcement late Wednesday that it will conduct a strategic review of its operations, with a focus on addressing underperformance in its specialty insurance business. This move comes after activist investor JANA Partners had pushed for changes at the company.
As part of the review, Markel stated that it is "fully committed to supporting areas within insurance that are excelling while also addressing underperformance." The company also said it will consider ways to simplify its corporate structure.
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