Markel profits down in Q1
The Markel Group has reported net income of $129 million during Q1, compared to $1.05 billion for the same quarter in 2024.
Operating revenues remained stable at $2.1 billion, compared to the same three months the previous year. Comprehensive income was $355 million compared to $932 million in Q1 in 2024, and the combined ratio was 95.8 per cent.
Markel’s chief executive officer, Tom Gayner, said the first quarter was a productive one.
He said: “We experienced a lower than initially anticipated impact from the California wildfires. Excluding that impact, our combined ratio returned to the low nineties.”
Markel has promoted Simon Wilson as the new leader of their insurance business.
Mr Gayner said Mr Wilson was a proven leader and winner – and he has a clear visionary for how to profitably grow that business.
He added that while the strong tailwinds of the past few years have eased, results within their businesses continued to hold up well.
• For more on the Markel Group reports 2025 first quarter results, see Related Media
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