Feb 5 (Reuters) - Insurer Markel Group MKL.N said on Wednesday it has decided to conduct a review of its business and would consider ways to simplify its structure.
The Richmond, Virginia-based company, which has a market value of $23.9 billion, said the focus of the review would be on the performance of its specialty insurance business.
"Insurance is at the heart of what we do, and we're fully committed to supporting areas within insurance that are excelling while also addressing underperformance," according to Markel.
In December, Bloomberg News reported that activist investor JANA Partners had amassed a stake in Markel and was pushing the company to explore a separation or sale of its private investments business.
"We believe the value and potential of our combined group of businesses is not fully reflected in our current stock price," Markel said on Wednesday.
The company added that it had asked shareholders, including JANA for feedback on where it could improve. As part of the review, the company will also consider ways to improve capital allocation.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta)
((ArasuKannagi.Basil@thomsonreuters.com;))
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