The specialty insurer has been compared to Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) because it uses insurance premiums to invest in stocks and acquire businesses. MKL Price to Book Value data by YCharts An interesting correlation also exists between that price-to-book ratio and the 10 year U.S. Treasury yield. MKL Price to Book Value (3y Median) data by YCharts Investors worried about potential inflation might see this as a hedge against rates rising.