Markel Corporation (NYSE: MKL), insurer of specialty properties and real estate, recently acquired Specialized Insurance Inc., which focuses on insurance for service garages at car dealers and gas stations. The move is said to be in keeping with Markel's intentions to grow this sector of it's business. Specialized Insurance Inc. already acted as agent for Markel. Financial details of the acquisition remain undisclosed.Markel has been in the business of insuring specialty properties and other niche markets since 1930. The company issues policies covering everything from archery ranges and railroads to pollution liabilities and paintball tournaments. The company has net annual cash flow from operating activities in excess of 500 million, but that figure has been in annual decline since 2004.
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