GLEN ALLEN, Va. (AP) — GLEN ALLEN, Va. (AP) — Markel Group Inc. (MKL) on Wednesday reported fourth-quarter net income of $518.7 million.

The Glen Allen, Virginia-based company said it had net income of $38.74 per share. Earnings, adjusted for non-recurring gains and investment gains, came to $20.51 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $19.54 per share.

The insurer posted revenue of $3.84 billion in the period. Its adjusted revenue was $3.72 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $3.73 billion.

For the year, the company reported profit of $2.64 billion, or $199.32 per share. Revenue was reported as $14.81 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKL at https://www.zacks.com/ap/MKL