From Yahoo Finance: 2025-05-01 11:15:00

Markel Group reported a total operating income of $282.5m in Q1 2025, down from $1.4bn in Q1 2024. Diluted net income per common share was $12.08, compared to $75.43 last year. Total operating revenues fell to $3.4bn, a 31.4% decrease from $4.47bn in the prior year.

The company’s underwriting results were impacted by $80.6m of losses from the California wildfires in Q1 2025, while Q1 2024 had no catastrophe losses. Excluding the wildfires’ impact, the consolidated combined ratio decreased to 95.8% in Q1 2025, from 95.2% in 2024 due to more favorable development on prior accident years’ loss reserves.

Total reinsurance operating income increased to $145m, a 6.7% rise from the previous year. The insurance segment contributed $53.2m, reinsurance segment $25m, and other insurance operations income $66.8m. Markel Group CEO Tom Gayner commented on the productive first quarter and the elevation of Simon Wilson as the new leader of Markel Insurance.

Markel, the insurance operations arm of Markel Group, recently agreed to acquire MECO Group, a specialist marine managing general agent pending regulatory approval. The deal is part of Markel’s strategic growth initiatives.



Read more at Yahoo Finance: Markel income plummets in Q1 2025