Markel Group (NYSE:MKL) announced it will conduct a review of its business.

The board will lead the review, helped by external consultants and advisors, the company said in a statement on Wednesday. The insurer will also review its structure, capital allocation and enhance its disclosures.

The review comes after activist investor Jana Partners in December said Markel (NYSE:MKL) should explore a separation or sale of its private investments business. Jana also said it believes the entire company could be a good takeover target for larger insurers.

seekingalpha.com - Insurer markel group to start business review

Markel is often touted as a mini Berkshire. But Buffett would never hire external consultants to do a business review at the behest of an activist investor.

Reviewing its structure & capital allocation should be the core competency of management. I am surprised and disappointed by this decision by Markel management.