Shares of specialty insurer Markel (NYSE: MKL) rose 14.8% in the first half of the year according to data provided by S&P Global Market Intelligence. In the first quarter last year the insurer posted a 118% combined ratio, which was elevated due to increased claims related to the COVID-19 pandemic. Insurers tend to perform well amid inflation because they are cash-generating machines, and put the excess capital to work in bonds and other investments.