, /PRNewswire-HISPANIC PR WIRE/ -- Markel Group Inc. (NYSE: MKL) ha anunciado hoy que celebrará una conferencia telefónica el jueves 30 de julio de 2026 a partir de las 9:30 h (hora del este) para analizar los resultados trimestrales y la evolución del negocio.
Los inversores, los analistas y el público en general pueden seguir la conferencia a través de la retransmisión en directo en ir.mklgroup.com. Para participar en la conferencia, marque (833) 461-5787 desde EE. UU. o +44 808 196 8935 desde el extranjero, e indique el ID de la reunión 322 635 047. La grabación de la conferencia estará disponible en nuestra página web aproximadamente una hora después de que finalice.
La retransmisión por Internet, la conferencia telefónica, así como su contenido y las repeticiones o retransmisiones autorizadas de estos, son propiedad exclusiva de Markel Group Inc., están protegidos por derechos de autor y no pueden copiarse, grabarse, retransmitirse ni publicarse, ni en su totalidad ni en parte, sin el consentimiento expreso por escrito de Markel Group Inc.
Acerca de Markel Group
Markel Group Inc. (NYSE: MKL) es un grupo de compañías muy variado que abarca desde seguros hasta equipamiento para panaderías, materiales de construcción, plantas de interior y mucho más. Los equipos directivos de estas empresas o compañías operan con un alto grado de independencia, al tiempo que ponen en práctica los valores que denominamos el Markel Style. Nuestro negocio de seguros especializados constituye el núcleo de nuestra compañía. Gracias a décadas de una sólida gestión de riesgos, el equipo de Markel Insurance ha proporcionado la base de capital a partir de la cual hemos construido un sistema de negocios e inversiones que, en su conjunto, refuerzan la solidez y la capacidad de adaptación de Markel Group. Se trata de un sistema que ofrece diversas fuentes de ingresos, acceso a una amplia gama de oportunidades de inversión y la capacidad de destinar capital de forma eficiente a las mejores ideas de toda la empresa. Pero lo más importante es que este sistema permite a cada una de nuestras empresas o compañías avanzar hacia nuestro objetivo común de ayudar a nuestros clientes, empleados y accionistas a alcanzar el éxito a largo plazo. Visite mklgroup.com para obtener más información.
, /PRNewswire/ -- Markel Group Inc. (NYSE: MKL) announced today it will hold a conference call on Thursday, July 30, 2026 beginning at 9:30 a.m. (Eastern Time) to discuss quarterly results and business developments.
Investors, analysts and the general public may listen to the call via live webcast at ir.mklgroup.com. The call may be accessed telephonically by dialing (833) 461-5787 in the U.S., or +44 808 196 8935 internationally, and providing Meeting ID: 322 635 047. A replay of the call will be available on our website approximately one hour after the conclusion of the call.
The webcast, the conference call and the content and permitted replays or rebroadcasts thereof are the exclusive copyrighted property of Markel Group Inc. and may not be copied, taped, rebroadcast, or published in whole or in part without the express written consent of Markel Group Inc.
About Markel Group
Markel Group Inc. (NYSE: MKL) is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the Markel Insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group's durability and adaptability. It's a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
, /PRNewswire/ -- Markel Group Inc. (NYSE: MKL) announced today it will hold a conference call on Thursday, July 30, 2026 beginning at 9:30 a.m. (Eastern Time) to discuss quarterly results and business developments.
Investors, analysts and the general public may listen to the call via live webcast at ir.mklgroup.com. The call may be accessed telephonically by dialing (833) 461-5787 in the U.S., or +44 808 196 8935 internationally, and providing Meeting ID: 322 635 047. A replay of the call will be available on our website approximately one hour after the conclusion of the call.
The webcast, the conference call and the content and permitted replays or rebroadcasts thereof are the exclusive copyrighted property of Markel Group Inc. and may not be copied, taped, rebroadcast, or published in whole or in part without the express written consent of Markel Group Inc.
About Markel Group
Markel Group Inc. (NYSE: MKL) is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the Markel Insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group's durability and adaptability. It's a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
Bessemer Group Inc. trimmed its stake in Markel Group Inc. (NYSE:MKL – Free Report) by 21.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,352 shares of the insurance provider’s stock after selling 374 shares during the period. Bessemer Group Inc.’s holdings in Markel Group were worth $2,588,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Valley National Advisers Inc. acquired a new position in shares of Markel Group during the fourth quarter valued at about $25,000. Fideuram Asset Management Ireland dac acquired a new stake in Markel Group during the fourth quarter worth about $26,000. Reflection Asset Management acquired a new stake in Markel Group during the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC bought a new position in Markel Group during the third quarter valued at about $29,000. Finally, V Square Quantitative Management LLC bought a new position in Markel Group during the fourth quarter valued at about $32,000. Institutional investors own 77.12% of the company’s stock.
Wall Street Analyst Weigh In MKL has been the subject of a number of research reports. Wall Street Zen downgraded Markel Group from a “buy” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings cut Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Truist Financial reduced their target price on Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating for the company in a research report on Thursday, April 30th. Wolfe Research initiated coverage on shares of Markel Group in a report on Wednesday, July 1st. They issued an “underperform” rating on the stock. Finally, Brean Capital began coverage on shares of Markel Group in a research note on Tuesday, March 24th. They issued a “neutral” rating and a $2,100.00 price objective for the company. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $2,025.00.
Check Out Our Latest Research Report on MKL
Insider Activity In other Markel Group news, Director Greta J. Harris sold 76 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total value of $140,395.56. Following the transaction, the director directly owned 645 shares in the company, valued at $1,191,514.95. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Leopold acquired 50 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $1,789.19 per share, for a total transaction of $89,459.50. Following the completion of the purchase, the director directly owned 550 shares of the company’s stock, valued at approximately $984,054.50. The trade was a 10.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.08% of the stock is currently owned by corporate insiders.
Markel Group Price Performance Markel Group stock opened at $1,960.62 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $24.53 billion, a PE ratio of 14.13 and a beta of 0.66. Markel Group Inc. has a one year low of $1,719.41 and a one year high of $2,207.59. The business has a 50 day simple moving average of $1,883.55 and a 200 day simple moving average of $1,952.53.
Markel Group (NYSE:MKL – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share for the quarter, missing analysts’ consensus estimates of $26.38 by ($45.28). The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.66 billion. Markel Group had a net margin of 10.85% and a return on equity of 7.90%. On average, sell-side analysts forecast that Markel Group Inc. will post 114.11 EPS for the current fiscal year.
Markel Group Profile (Free Report)
Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.
In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.
Featured Stories Five stocks we like better than Markel Group Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding MKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL – Free Report).
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California Public Employees Retirement System cut its holdings in Markel Group Inc. (NYSE:MKL – Free Report) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,920 shares of the insurance provider’s stock after selling 2,589 shares during the quarter. California Public Employees Retirement System owned 0.25% of Markel Group worth $59,183,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Markel Group in the fourth quarter valued at $317,583,000. Select Equity Group L.P. boosted its position in shares of Markel Group by 75.9% during the 2nd quarter. Select Equity Group L.P. now owns 336,369 shares of the insurance provider’s stock worth $671,850,000 after purchasing an additional 145,146 shares in the last quarter. Davis Selected Advisers grew its stake in shares of Markel Group by 11.1% during the 4th quarter. Davis Selected Advisers now owns 415,160 shares of the insurance provider’s stock worth $892,496,000 after purchasing an additional 41,632 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Markel Group by 3,235.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,316 shares of the insurance provider’s stock valued at $54,421,000 after purchasing an additional 24,557 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Markel Group by 13.0% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 204,861 shares of the insurance provider’s stock valued at $440,379,000 after purchasing an additional 23,631 shares in the last quarter. Institutional investors and hedge funds own 77.12% of the company’s stock.
Insider Buying and Selling In other news, Director Greta J. Harris sold 76 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $1,847.31, for a total transaction of $140,395.56. Following the completion of the transaction, the director directly owned 645 shares of the company’s stock, valued at $1,191,514.95. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane Leopold acquired 100 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $1,792.61 per share, with a total value of $179,261.00. Following the completion of the transaction, the director directly owned 2,190 shares in the company, valued at approximately $3,925,815.90. The trade was a 4.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.08% of the company’s stock.
Analyst Ratings Changes A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Markel Group from $2,100.00 to $1,950.00 and set a “hold” rating on the stock in a report on Thursday, April 30th. Wolfe Research assumed coverage on shares of Markel Group in a research report on Wednesday, July 1st. They set an “underperform” rating for the company. Weiss Ratings downgraded shares of Markel Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Brean Capital began coverage on Markel Group in a research note on Tuesday, March 24th. They set a “neutral” rating and a $2,100.00 price target on the stock. Finally, Wall Street Zen cut Markel Group from a “buy” rating to a “sell” rating in a report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Markel Group presently has an average rating of “Reduce” and an average price target of $2,025.00.
View Our Latest Analysis on Markel Group
Markel Group Price Performance Shares of NYSE MKL opened at $1,970.12 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $1,878.19 and its 200 day moving average price is $1,955.23. Markel Group Inc. has a 52 week low of $1,719.41 and a 52 week high of $2,207.59. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 14.20 and a beta of 0.66.
Markel Group (NYSE:MKL – Get Free Report) last announced its earnings results on Tuesday, April 28th. The insurance provider reported ($18.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $26.38 by ($45.28). Markel Group had a return on equity of 7.90% and a net margin of 10.85%.The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.66 billion. As a group, research analysts forecast that Markel Group Inc. will post 114.11 earnings per share for the current fiscal year.
About Markel Group (Free Report)
Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.
In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.
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Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced the appointment of Marc Copland as Vice President, Product Line
TORONTO--(BUSINESS WIRE)--Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the appointment of Marc Copland as Vice President, Product Line Leader – Property, effective immediately. Copland steps into the newly dedicated Property Product Line Leadership role focused on shaping and scaling Markel Canada's Property portfolio. Partnering closely with technical specialists and underwriting teams, his priority will be delivering quality Property products.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. (NYSE: MKL), today announced the appointment of Grant Smith as Director of Marine Transportation at Markel International.
Grant Smith, Director of Marine Transportation at Markel International Smith will lead the development of the new Marine Transportation business, bringing together Markel International's Hull & Hull War, MECO, Marine & Energy Liabilities, and Transport & Logistics classes under a single leadership structure. The move reflects the increasingly interconnected nature of marine and transportation risks and is designed to provide brokers and clients with more coordinated access to expertise across the portfolio.
In his new role, Smith will be responsible for shaping strategy across multiple classes and geographies while leading initiatives to strengthen underwriting capabilities, improve processes and support the delivery of tailored solutions for brokers and insureds. He will also serve as a senior point of contact for brokers, clients and industry bodies, working closely with Claims and Actuarial teams to strengthen underwriting discipline and risk selection as risk exposures continue to evolve.
Based in London, Smith will report to Dan McCarthy, Managing Director – Marine, Energy & Construction.
Smith joined Markel in 2024 as Director – Marine & Energy Liabilities, before assuming responsibility for Transport & Logistics in 2025. He has more than 17 years' experience across marine specialty lines and underwriting leadership roles.
McCarthy commented: "The marine transportation industry is facing heightened risk exposures, from increasing supply chain disruptions to rising thefts at ports as geopolitical tensions escalate worldwide.
"As these risks become more interconnected, it's increasingly important that brokers and clients can access expertise across the full spectrum of marine and transportation exposures. Bringing these capabilities together under a single leadership structure will help us provide deeper insight, more coordinated solutions and a stronger experience for our trading partners.
"Grant has made a significant contribution since joining Markel in 2024. His experience across marine specialty lines makes him exceptionally well placed to lead this business and support our clients and brokers navigate a rapidly evolving operating environment."
Smith added: "I'm delighted to be taking on the role of Director of Marine Transportation at Markel International. By bringing our marine and transportation capabilities closer together, we have an opportunity to offer clients and brokers more connected expertise across increasingly complex risks, while continuing to build on Markel's long-standing reputation for disciplined underwriting and strong service."
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. (NYSE: MKL), today announced the appointment of Grant Smith as Director of Marine Transportation at Markel International.
Grant Smith, Director of Marine Transportation at Markel International Smith will lead the development of the new Marine Transportation business, bringing together Markel International's Hull & Hull War, MECO, Marine & Energy Liabilities, and Transport & Logistics classes under a single leadership structure. The move reflects the increasingly interconnected nature of marine and transportation risks and is designed to provide brokers and clients with more coordinated access to expertise across the portfolio.
In his new role, Smith will be responsible for shaping strategy across multiple classes and geographies while leading initiatives to strengthen underwriting capabilities, improve processes and support the delivery of tailored solutions for brokers and insureds. He will also serve as a senior point of contact for brokers, clients and industry bodies, working closely with Claims and Actuarial teams to strengthen underwriting discipline and risk selection as risk exposures continue to evolve.
Based in London, Smith will report to Dan McCarthy, Managing Director – Marine, Energy & Construction.
Smith joined Markel in 2024 as Director – Marine & Energy Liabilities, before assuming responsibility for Transport & Logistics in 2025. He has more than 17 years' experience across marine specialty lines and underwriting leadership roles.
McCarthy commented: "The marine transportation industry is facing heightened risk exposures, from increasing supply chain disruptions to rising thefts at ports as geopolitical tensions escalate worldwide.
"As these risks become more interconnected, it's increasingly important that brokers and clients can access expertise across the full spectrum of marine and transportation exposures. Bringing these capabilities together under a single leadership structure will help us provide deeper insight, more coordinated solutions and a stronger experience for our trading partners.
"Grant has made a significant contribution since joining Markel in 2024. His experience across marine specialty lines makes him exceptionally well placed to lead this business and support our clients and brokers navigate a rapidly evolving operating environment."
Smith added: "I'm delighted to be taking on the role of Director of Marine Transportation at Markel International. By bringing our marine and transportation capabilities closer together, we have an opportunity to offer clients and brokers more connected expertise across increasingly complex risks, while continuing to build on Markel's long-standing reputation for disciplined underwriting and strong service."
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. (NYSE:MKL), today announced the appointment of Bhavik Desai as Managing Director – PFR & Cyber within its London Market business.
In his new role, Desai will lead underwriting strategy, portfolio performance and broker and client engagement across PFR & Cyber, supporting Markel's continued focus on disciplined underwriting, technical excellence and sustainable growth across complex specialty classes.
Bhavik Desai, Managing Director of PFR & Cyber at Markel International. Desai succeeds David Sawyer, who remains with the business until his planned retirement at the end of 2026.
Since joining Markel in 2013, Desai has held a series of senior underwriting roles, including Head of Professional Indemnity and Director of Professional Indemnity, Media & Entertainment. He has extensive experience across Professional Indemnity, Media & Entertainment and related specialist lines.
Before joining Markel, Desai held underwriting leadership roles at AIG, including responsibility for London-placed Professional Indemnity business and the UK & Ireland Construction Professional Indemnity portfolio.
At Markel, Desai has helped develop the Professional Indemnity and Media portfolios, with a focus on underwriting discipline, portfolio management, broker engagement and renewal consistency.
As Managing Director, PFR & Cyber, Desai will focus on disciplined portfolio performance, developing underwriting talent and strengthening Markel's position across professional, financial and cyber-related risks. He'll also work closely with colleagues across underwriting, claims, actuarial, distribution and operations to support insight-led decision-making and modern underwriting practices.
Rohan Davies, Managing Director – London Market, commented: "Bhavik is a highly respected underwriting leader with deep technical expertise, strong broker relationships and a clear understanding of the markets in which our PFR & Cyber teams operate. His appointment provides leadership continuity for the division and supports our focus on disciplined underwriting, portfolio performance and sustainable growth.
"PFR & Cyber operate in areas where risk profiles and client needs continue to evolve quickly. Bhavik's experience, judgement and collaborative leadership style make him well placed to lead the division as we continue to develop our proposition for brokers and clients."
Desai added: "I'm proud to take on this role and to lead a division with such strong specialist expertise, and market relationships. PFR & Cyber brings together areas that are increasingly important to our brokers and clients, and our focus will remain on disciplined underwriting, responsive service and long-term portfolio performance.
"We have talented people across the division and strong relationships across the market. My priority is to build on those foundations, support our teams and continue developing a business that delivers consistent value for brokers, clients and Markel."
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
Key Takeaways MKL acquired The MECO Group to strengthen its marine insurance footprint and global distribution. Acquisitions across insurance and non-insurance businesses help diversify earnings and growth drivers. Management uses underwriting profits and generated capital to fund deals that build long-term value. Markel Group Inc. (MKL - Free Report) uses acquisitions as a key component of its long-term capital allocation strategy. The acquisition strategy is designed to expand specialty insurance capabilities and distribution, enter attractive niche markets with strong underwriting expertise, deploy excess capital into businesses that can compound value over long periods and acquire founder-led businesses that can continue operating independently under a decentralized structure.
Markel Insurance, the company's core specialty insurance business, completed its acquisition of the London-based independent specialist marine managing general agent (MGA), The MECO Group, in June 2025. This strategic integration expands Markel Group's marine insurance footprint, strengthens its presence in the Asia-Pacific and European marine markets, and enhances its distribution relationships and product breadth.
In 2024, Markel Group acquired a majority interest in Valor Environmental and related operating companies, thereby expanding Markel Ventures' industrial and infrastructure operations.
The addition of such companies shows that Markel continues to pursue both insurance and non-insurance acquisitions to strengthen these engines and reduce dependence on any single market cycle.
Markel Group generally funds acquisitions through Insurance underwriting profits, internally generated capital and occasional debt issuance for larger transactions. The company's diversified business model provides multiple sources of cash that can be deployed toward acquisitions.
Acquisitions are a critical pillar of Markel Group's long-term growth strategy. They help the company expand its insurance franchise, diversify earnings, deploy capital efficiently and increase intrinsic value per share.
Markel Group's acquisition strategy differs from many other insurers because it is not focused solely on growing insurance premiums. Management aims to create a diversified collection of high-quality businesses that can compound intrinsic value over decades.
What About Its Peers?Assurant, Inc. (AIZ - Free Report) remains focused on acquisitions to expand its footprint in the connected living, automotive and device repair sectors. Strategic buyouts (such as RL Circular Operations, OptoFidelity, HYLA Mobile and The Warranty Group) fuel its growth by providing proprietary diagnostic technology, scaling circular supply chains and expanding into high-growth international markets. Acquisitions have played a pivotal role in transforming Assurant into a global, technology-driven leader in risk management, beyond its traditional insurance roots.
Arthur J. Gallagher & Co. (AJG - Free Report) is growing through mergers and acquisitions. During 2025, AJG completed 31 new mergers, representing around $3.5 billion of estimated annualized revenues. Looking at the pipeline, AJG has around 40 term sheets signed or being prepared, representing around $350 million of annualized revenues. AJG’s current cash position and strong expected free cash flow position it well for its pipeline of M&A opportunities. Over the next couple of years, AJG expects to have $10 billion to fund M&A, before utilizing any stock.
MKL’s Price PerformanceShares of MKL have lost 5.8% in the past year against the industry’s growth of 1.7%.
Image Source: Zacks Investment Research
MKL’s UndervaluationThe stock is undervalued compared with its industry. Its forward price-to-book value of 1.28X is lower than the industry average of 2.61X. It carries a Value Score of B.
Image Source: Zacks Investment Research
Estimate Movement for MKLThe Zacks Consensus Estimate for MKL’s second-quarter and third-quarter 2026 EPS has both moved down 0.2% and 3.5%, respectively, in the past 60 days. The same for full-year 2026 and 2027 EPS has moved down 3.4% and 3.1%, respectively, in the past 60 days.
The consensus estimate for MKL’s 2026 and 2027 EPS and revenues indicates a year-over-year increase.
Image Source: Zacks Investment Research
MKL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Berkshire and Markel are expected to maintain strength amid steady rates and solid equity markets.Berkshire benefits from diversified operations, insurance float and over $370B in cash and Treasuries.Markel targets $10B in annual premiums and $1B in underwriting profit over the next five years. The Federal Reserve has kept interest rates steady at 3.50%–3.75%. Inflation, global tensions and a rise in oil prices have likely pushed a rate cut off the table in 2026. Meanwhile, equity markets continue to perform satisfactorily due to economic growth.
Against this backdrop, Berkshire Hathaway Inc. (BRK.B - Free Report) and Markel Group (MKL - Free Report) — two insurance-driven companies — are expected to maintain their strength.
With digital innovation accelerating across the industry, merger and acquisition (M&A) activity is likely to pick up, especially in technology-driven transactions that further strengthen companies’ expertise and market positions.
But for long-term investors, which stock offers the more compelling opportunity? Let’s take a closer look at both companies' fundamentals.
Factors to Consider for BRK.BBerkshire Hathaway is a highly diversified conglomerate with more than 90 subsidiaries spanning insurance, utilities, railroads, manufacturing, retail and consumer products. This diverse business portfolio helps mitigate concentration risk and supports stable performance across economic cycles, enhancing resilience during periods of market uncertainty.
Insurance remains the cornerstone of Berkshire’s operations, accounting for approximately one-fourth of total revenues. The segment benefits from disciplined underwriting, consistent premium growth and favorable pricing trends. A key strength of the business is its sizable insurance float — premiums collected before claims are paid — which serves as a low-cost source of capital for investments and acquisitions. This unique advantage has been instrumental in driving long-term earnings growth and capital allocation flexibility.
Berkshire also continues to refine its investment portfolio to improve income stability and broaden geographic exposure. The company has increased investments in Japanese trading houses, trimmed positions in certain payment companies and expanded its focus on airline-related investments. Its planned $6.8 billion acquisition of Taylor Morrison Home Corp. reflects a strategic commitment to the U.S. housing market and its favorable long-term fundamentals.
Financially, Berkshire remains exceptionally well positioned, supported by more than $370 billion in cash and U.S. Treasury holdings, conservative leverage and a strong balance sheet.
Berkshire’s return on equity of 6.6% lags the industry average of 7.4%, but the company has improved its returns over time. BRK.B shares have lost 1.6% year to date, outperforming the industry.
Factors to Consider for MKLMarkel Group, much like Berkshire Hathaway, operates as a diversified holding company built on three core pillars: Insurance, Investments and Markel Ventures. At the heart of its business is Markel Insurance, which serves as the foundation for the company’s broader growth strategy and financial strength.
The insurance segment has delivered strong results by focusing on complex, specialized, and underserved markets. Disciplined underwriting, favorable pricing and new business generation have supported its performance, while a combined ratio consistently below 100% reflects sustained underwriting profitability. Markel aims to double the size of its insurance operations over the next five years, targeting $10 billion in annual premiums and approximately $1 billion in underwriting profit. The company expects to achieve this primarily through organic expansion of its profitable businesses. It has exited operations that do not meet its profitability standards.
Markel’s investment portfolio manages capital generated by its insurance operations as well as funds held at the holding company level. The portfolio is diversified across equities and fixed-income securities, seeking attractive long-term risk-adjusted returns.
Markel Ventures further strengthens the business model through ownership stakes in high-quality companies spanning manufacturing, services, transportation and consumer products. These businesses generate steady cash flows that are largely independent of insurance market cycles, enhancing diversification and resilience while contributing meaningfully to revenues, earnings and book value growth.
Supported by a strong balance sheet and growing liquidity, Markel has the capacity to repurchase shares. However, management currently prioritizes reinvesting capital into organic growth opportunities within its insurance operations.
Markel’s return on equity of 7.9% lags the industry average of 16.2%. MKL shares have lost 13.7% year to date and underperformed the industry.
Estimates for BRK.B and MKLThe Zacks Consensus Estimate for BRK.B’s 2026 revenues implies a year-over-year increase of 3.8%, while that for EPS implies a year-over-year increase of 1%. EPS estimates have moved 2.8% north in the past 30 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MKL’s 2026 revenues implies a year-over-year increase of 6.1% and that for EPS implies a year-over-year increase of 17.4%. However, EPS estimates have moved 0.2% south in the past 30 days.
Image Source: Zacks Investment Research
Are BRK.B and MKL Shares Expensive?Berkshire is trading at a price-to-book value multiple of 1.47, below its median of 1.53 over the last three years. MKL’s price-to-book value multiple sits at 1.28, lower than its median of 1.37 over the past three years.
Image Source: Zacks Investment Research
ConclusionHolding Berkshire Hathaway stock offers investors exposure to a highly diversified portfolio built through Warren Buffett’s exceptional capital allocation and value-creation skills over nearly six decades. As Greg Abel leads the company, investors are closely watching Berkshire’s next chapter.
Meanwhile, Markel distinguishes itself through its focus on specialized insurance markets and disciplined risk management. Supported by strong underwriting and investment operations, the company is well-positioned for long-term growth. Markel continues to pursue both acquisitions and organic expansion to diversify its business mix and strengthen its global presence.
Berkshire carries a Zacks Rank #2 (Buy), while Markel carries a Zacks Rank #3 (Hold). Given positive analyst sentiment and price performance, Berkshire has an edge over Markel.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Markel International, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced the appointment of Alisha Everett as Assistant Vice President, Contractors, Trades and Construction Services, and Nicholas Doy as Manager within the CTCS team, effective immediately.
In this role, Everett will lead Markel’s CTCS strategy across Canada, overseeing underwriting execution and driving profitable growth within the Contractors and Trades segment. She will work closely with national underwriting and distribution teams to strengthen market engagement, refine risk appetite, and enhance Markel’s value proposition for brokers and clients.
Everett brings deep expertise in construction and casualty underwriting, with a proven ability to build profitable, sustainable portfolios. She will be instrumental in aligning product strategy with broker and field execution as Markel continues to expand in this space.
Doy joins the CTCS team as Manager, supporting underwriting performance, portfolio development, and broker engagement across key regions in Canada. His appointment strengthens Markel’s ability to deliver responsive, specialist underwriting solutions tailored to the evolving needs of contractors and trades clients.
These hires reflect Markel Canada's continued investment in its Contractors and Trades capabilities, with a focus on disciplined underwriting, strategic growth, and strengthening broker relationships across the Canadian construction market.
“We’re thrilled to welcome Alisha and Nicholas to the team at a pivotal point in the expansion of our CTCS offering,” says Andrew Poulton, Vice President, Sectors at Markel Canada. “Their combined experience and market insights will be instrumental in strengthening our underwriting capabilities and accelerating profitable growth in the Contractors and Trades sector.”
Everett and Doy will be based in Markel’s Toronto office.
About Markel
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260615946257/en/
TORONTO--(BUSINESS WIRE)--Markel International, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced the appointment of Alisha Everett as Assistant Vice President, Contractors, Trades and Construction Services, and Nicholas Doy as Manager within the CTCS team, effective immediately. In this role, Everett will lead Markel's CTCS strategy across Canada, overseeing underwriting execution and driving profitable growth within the Contractors and Trades segment. She will wor.
TORONTO--(BUSINESS WIRE)--Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced the launch of PlayMicro in Canada, a special events portal offering short-term coverage for sporting events, meetings, cultural and social gatherings, now available through its digital platform, Markel Connect. This launch strengthens the capabilities of Markel Connect and reflects Markel’s ongoing commitment to digital innovation and delivering efficient access to specialty solutions for brokers.
PlayMicro supports a broad range of organized sport and fitness activities, including competitions, seasonal teams, tournaments, practices, camps, and related programs. The portal also provides short‑term coverage for meetings, cultural gatherings, tradeshows, festivals, parades, theatre productions, fairs, fundraisers, private functions, and other events. Coverage is available for events where alcohol is served on premises.
With minimum premiums starting at CAD$150, the product offers comprehensive general liability including participant and participant-to-participant liability (excluding products and completed operations).
“Integrating PlayMicro within Markel Connect reflects our commitment to meeting the evolving needs of Canadian brokers and event organizers,” said Brenda McClung, Assistant Vice President, Markel Play. “Our goal was to create a user-friendly portal, giving clients fast, reliable access to coverage for the sporting activities and short‑term events they rely on us to protect.”
Available through Markel Connect in Canada (excluding Quebec at this time), brokers can quote, bind, and issue policies on a 24/7 basis, with instant decline notifications and rapid referral turnaround. The platform offers flexible limits, competitive pricing, no policy fees, and a 20% commission structure.
“PlayMicro represents meaningful progress in our digital strategy,” said Sachin Rustagi, Head of Digital. “Markel Connect is designed to simplify the quoting experience for brokers across various micro-SME errors & omissions, directors & officers and office package risks. Adding PlayMicro to our primary portal extends that one-stop experience and single-login access for event and sports organizers who need quick, dependable coverage 24/7.”
The addition of PlayMicro to Markel Connect reflects Markel Canada’s ongoing investment in digital solutions that support broker workflows. The company continues to expand the platform’s capabilities, introduce new tools, and bring additional products online to improve efficiency and deliver value to broker partners.
Brokers registered with Markel Connect can access PlayMicro immediately at https://connect.markel.ca.
About Markel
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
, /PRNewswire/ -- Cogitate, one of the leading providers of intelligent core insurance technology, is proud to announce the launch of Bridge Specialty Group's new personal lines digital marketplace. The digital platform is designed to streamline agent quoting, enhance underwriting efficiency, and support scalable expansion of carrier access across its personal lines portfolio.
As one of the largest personal lines wholesalers in the U.S., Bridge Specialty Group is uniquely positioned to scale carrier access and simplify distribution for agents nationwide. This new platform enables agents to complete one common application and receive eligibility and premium indications across participating carriers within a unified digital experience.
Built on Cogitate's DigitalEdge platform, the marketplace supports API-enabled carrier integrations and structured workflows for markets without direct APIs. This allows agents to see multiple carrier options side-by-side, without compromising each carrier's underwriting approach. Agents gain faster visibility into available markets, and underwriters benefit from structured workflows and improved submission quality.
Among its early carriers, Bridge Specialty Group worked with Markel to make its E&S homeowners product available in the marketplace.
"Markel is excited to support initiatives that leverage API technology to enhance underwriting efficiency and customer outcomes," said Virginia Mathurin, Managing Director, Underwriting & Business Development for Personal Lines at Markel.
At launch, the marketplace supports more than 18,000 users across 5,000 agencies, providing immediate scale across Bridge Specialty Group's distribution network. The implementation transitioned Bridge Specialty Group from a complex permissions model to a streamlined, templatized framework, enhancing scalability while maintaining operational stability.
"The personal lines marketplace reflects our commitment to delivering a modern, transparent, and scalable digital experience for our agents and carrier partners," said Joe Failla, Chief Operating Officer of Bridge Specialty Group. "By consolidating systems and enabling comparative rating within a single marketplace, we are improving speed, clarity, and operational efficiency across our organization."
"This launch represents what's possible when deep insurance experience meets modern, cloud-native technology. At Cogitate, we believe digital marketplaces should not only accelerate quote-to-bind, but also create meaningful connectivity between carriers, underwriters, and distribution partners. Bridge Specialty Group has embraced a bold vision for scalable growth, and we are proud to provide the DigitalEdge foundation that empowers their teams to innovate faster, operate smarter, and deliver a truly unified experience to their agents," said Arvind Kaushal, CEO & Co-founder of Cogitate.
About Bridge Specialty Group
Bridge Specialty Group is a leading global insurance wholesaler comprised of more than 28 niche-focused specialty brands with a presence in over 55 locations throughout the United States, the United Kingdom, and Europe. The organization connects the diverse needs of retail partners with the market access and expertise of its wholesale entities, drawing on deep specialization in areas including construction, casualty, environmental liability, professional liability, healthcare, public entity, workers' compensation, property, and personal lines. With access to more than 300 standard and excess & surplus lines carriers and a premium volume book in the multibillion-dollar range, Bridge Specialty Group's mission is to bring the power of collective size and specialty to the wholesale brokerage marketplace by delivering innovative solutions and tailored risk placement for its partners. Learn more at https://bridgespecialtygroup.com/ .
About Markel
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. Learn more at www.markel.com.
About Cogitate
The Cogitate DigitalEdge Insurance Platform digitalizes insurance across the value chain, offering insurance carriers, MGAs, and program administrators a smooth transition to cloud-native, data-driven core underwriting, policy, billing, and claim applications. The AI-powered, unified insurance platform unlocks the value of first-party data and advances the power of third-party data for profitable growth, superior risk selection, and a streamlined, modern user experience. Backed by more than 100 combined years of comprehensive experience and domain knowledge, our products are uniquely designed to meet the needs of insurance businesses of every size. Learn more at www.cogitate.com .
Media Contact
Pamela Simpson
Director of Marketing & Communications
[email protected]
, /PRNewswire/ -- Markel Group Inc. (NYSE:MKL) today reported its financial results for the first quarter of 2026. The Company also announced today it filed its Form 10-Q for the quarter ended March 31, 2026 with the Securities and Exchange Commission.
"In the first quarter of 2026, we generated strong results across the company. We are pleased with the continued progress of our ongoing operations," said Tom Gayner, Chief Executive Officer. "We continue to do more of what's working and less of what's not, while focusing on balance sheet strength, disciplined capital allocation, and ongoing share repurchases."
Highlights of our 2026 first quarter results:
Operating revenues were consistent quarter over quarter. Operating loss, which includes market movements in our equity portfolio, was $273 million for the quarter. Adjusted operating income, which excludes market movements in our equity portfolio, was $498 million for the quarter, which represents a 4% increase compared to the first quarter of 2025. For Markel Insurance, our cornerstone business: The combined ratio for the quarter, which included two points of net losses attributed to the Middle East conflict, was 93%, which represents a three point improvement compared to the first quarter of 2025. Adjusted operating income increased 31% for the quarter to $369 million with each of our three ongoing underwriting divisions meaningfully contributing to our overall profitability. Underwriting gross premium volume decreased 21% for the quarter, as expected, due to the impact of the sale of the renewal rights of our Global Reinsurance division in 2025 and the transition of our Hagerty business to a fronting arrangement in 2026. Excluding these items, underwriting gross premium volume increased 10% for the quarter. Our global specialty product diversification was on full display. Although our Wholesale and Specialty E&S platform faced difficult market conditions, we had robust growth within our International operations, our Bermuda platform, and within our personal lines and programs business units. Comprehensive loss to shareholders was $340 million for the quarter primarily due to unrealized losses on our investment portfolio. Share repurchases were $134 million for the quarter. The following table presents summary consolidated financial data.
Three Months Ended March 31,
(dollars in thousands)
2026
2025
Operating revenues
$ 3,550,605
$ 3,548,176
Operating income (loss)
$ (273,329)
$ 282,524
Add: Amortization of acquired intangible assets
43,513
46,942
Less: Net investment losses
(727,562)
(149,071)
Adjusted operating income (1)
$ 497,746
$ 478,537
Comprehensive income (loss) to shareholders
$ (340,430)
$ 347,670
(1) See "Non-GAAP Financial Measures" for additional information on this non-GAAP measure.
Markel Insurance Segment
Three Months Ended March 31,
(dollars in thousands)
2026
2025
% Change
Gross premium volume:
Underwriting
$ 2,215,573
$ 2,793,406
(21) %
Adjusted underwriting (1)
$ 2,192,993
$ 1,996,551
10 %
Fronting
$ 587,422
$ 378,145
55 %
Operating revenues:
Earned premiums
$ 1,969,339
$ 2,016,539
(2) %
Net investment income
229,619
207,517
11 %
Services and other revenues
2,727
2,620
4 %
Operating revenues
$ 2,201,685
$ 2,226,676
(1) %
Adjusted operating income:
Underwriting profit
$ 142,249
$ 80,162
77 %
Net investment income
229,619
207,517
11 %
Services and other income
(2,378)
(5,564)
(57) %
Adjusted operating income
$ 369,490
$ 282,115
31 %
Combined ratio
93 %
96 %
(1) See "Non-GAAP Financial Measures" for additional information on this non-GAAP measure.
Industrial Segment
Three Months Ended March 31,
(dollars in thousands)
2026
2025
% Change
Operating revenues
$ 883,058
$ 829,574
6 %
Adjusted operating income
$ 49,286
$ 58,764
(16) %
Financial Segment
Three Months Ended March 31,
(dollars in thousands)
2026
2025
% Change
Operating revenues
$ 161,530
$ 178,481
(9) %
Adjusted operating income
$ 36,205
$ 79,611
(55) %
Consumer and Other Segment
Three Months Ended March 31,
(dollars in thousands)
2026
2025
% Change
Operating revenues
$ 280,497
$ 287,786
(3) %
Adjusted operating income
$ 39,755
$ 32,388
23 %
* * * * * * * *
A copy of our Form 10-Q is available on our website at mklgroup.com, under Investor Relations-Financials, or on the SEC website at www.sec.gov. Readers are urged to review the Form 10-Q for a more complete discussion of our financial performance. Our quarterly conference call, which will involve discussion of our financial results and business developments and may include forward-looking information, will be held Wednesday, April 29, 2026, beginning at 9:30 a.m. (Eastern Time). Investors, analysts, and the general public may listen to the call via live webcast at ir.mklgroup.com. The call may be accessed telephonically by dialing (888) 660-9916 in the U.S., or +1 (646) 960-0452 internationally, and providing Conference ID: 4614568. A replay of the call will be available on our website approximately one hour after the conclusion of the call. Any person needing additional information can contact Markel Group's Investor Relations Department at [email protected].
Additionally, we will be discussing financial results and related business and investments updates at our shareholders meeting on May 20, 2026 at the University of Richmond Robins Center at 2:00 p.m. (Eastern Time). The shareholders meeting will be part of the 2026 Reunion, which is open to shareholders, employees, and friends of Markel Group. More information on the 2026 Reunion, including the agenda and registration, is available at mklreunion.com.
Supplemental Financial Information
The following table summarizes our results by segment.
Three Months Ended March 31,
(dollars in thousands)
2026
2025
% Change
Operating revenues:
Markel Insurance
$ 2,201,685
$ 2,226,676
(1) %
Industrial
883,058
829,574
6 %
Financial
161,530
178,481
(9) %
Consumer and Other
280,497
287,786
(3) %
Corporate and eliminations
23,835
25,659
(7) %
Total operating revenues
$ 3,550,605
$ 3,548,176
0 %
Operating income (loss)
$ (273,329)
$ 282,524
NM (1)
Add: Amortization of acquired intangible assets
43,513
46,942
(7) %
Less: Net investment losses
(727,562)
(149,071)
388 %
Adjusted operating income (2)
$ 497,746
$ 478,537
4 %
Markel Insurance
$ 369,490
$ 282,115
31 %
Industrial
49,286
58,764
(16) %
Financial
36,205
79,611
(55) %
Consumer and Other
39,755
32,388
23 %
Corporate and eliminations
3,010
25,659
(88) %
Adjusted operating income (2)
$ 497,746
$ 478,537
4 %
(1) NM - Not meaningful
(2) See "Non-GAAP Financial Measures" for additional information on this non-GAAP measure.
We believe our financial performance is most meaningfully measured over longer periods of time, which tends to mitigate the effects of short-term volatility and better aligns with the long-term perspective we apply to operating our businesses and making investment decisions. The following table presents a long-term view of our performance.
Three Months Ended
March 31, 2026
Year Ended December 31,
(dollars in thousands)
2025
2024
2023
2022
Operating revenues
$ 3,550,605
$ 15,513,233
$ 14,813,544
$ 14,279,576
$ 13,271,068
Operating income (loss)
$ (273,329)
$ 3,194,852
$ 3,712,562
$ 2,928,828
$ (93,336)
Add: Amortization of acquired intangible assets
43,513
185,007
181,472
180,614
178,778
Add: Impairment of goodwill
—
—
—
—
80,000
Less: Net investment gains (losses)
(727,562)
1,076,081
1,807,219
1,524,054
(1,595,733)
Adjusted operating income (1)
$ 497,746
$ 2,303,778
$ 2,086,815
$ 1,585,388
$ 1,761,175
(1) See "Non-GAAP Financial Measures" for additional information on this non-GAAP measure.
Non-GAAP Financial Measures
Markel Group utilizes certain non-GAAP measures that we believe enhance the understanding of our performance. These measures should not be viewed as a substitute for measures determined in accordance with U.S. GAAP.
Consolidated Adjusted Operating Income
Consolidated adjusted operating income, which excludes net investment gains and losses, amortization of acquired intangible assets, and impairment of goodwill, is a non-GAAP financial measure. We believe adjusted operating income is generally an accurate representation of the operating performance of our businesses in our periodic results. Net investment gains and losses are predominantly derived from our investments in publicly traded equity securities and include significant unrealized gains and losses from market value movements. We believe that net investment gains and losses, whether realized from sales or unrealized from market value movements, are distortive in understanding the short-term operating performance of our businesses. We do not view amortization of intangible assets and impairment of goodwill, which arise from purchase accounting for acquisitions, as ongoing costs of operating our businesses, and therefore exclude those amounts from our adjusted operating income metric.
Adjusted Underwriting Gross Premium Volume
Adjusted underwriting gross premium volume is a non-GAAP measure that excludes underwriting gross premium volume from the Global Reinsurance division and our business with Hagerty for both periods. In August 2025, Markel Insurance sold the renewal rights for contracts written through its Global Reinsurance division, and the division entered into run-off, which resulted in a significant decline in underwriting gross premium volume. Beginning on January 1, 2026, Markel Insurance's business written on behalf of Hagerty transitioned from being an underwriting product to a fronting arrangement, which resulted in a change in the presentation of the related gross premium volume and therefore, a significant decline in underwriting gross premium volume. We believe adjusted underwriting gross premium volume is a meaningful measure when comparing underwriting gross premium volume from period-to-period as it adjusts for the impact of these significant contractual restructuring changes within the Markel Insurance segment. The following table reconciles underwriting gross premium volume to adjusted underwriting gross premium volume.
Three Months Ended March 31,
(dollars in thousands)
2026
2025
% Change
Underwriting gross premium volume
$ 2,215,573
$ 2,793,406
(21) %
Less: Global Reinsurance division underwriting gross premium volume
22,580
576,928
Less: Hagerty underwriting gross premium volume
—
219,927
Adjusted underwriting gross premium volume
$ 2,192,993
$ 1,996,551
10 %
About Markel Group
Markel Group Inc. is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the Markel Insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group's durability and adaptability. It's a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
Cautionary Statement
Certain of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Statements that are not historical facts, including statements about our beliefs, plans or expectations, are forward-looking statements. These statements are based on our current plans, estimates, and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Additional factors that could cause actual results to differ from those predicted are set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, including under "Business Overview," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Safe Harbor and Cautionary Statement," and "Quantitative and Qualitative Disclosures About Market Risk," and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, including under "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Safe Harbor and Cautionary Statement," "Quantitative and Qualitative Disclosures About Market Risk," and "Risk Factors." We assume no obligation to update this release (including any forward-looking statements) as a result of new information, developments, or otherwise. This release speaks only as of the date issued.
Markel Group (MKL - Free Report) came out with quarterly earnings of $21.61 per share, missing the Zacks Consensus Estimate of $26.38 per share. This compares to earnings of $25.72 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -18.08%. A quarter ago, it was expected that this insurer would post earnings of $25.57 per share when it actually produced earnings of $34.45, delivering a surprise of +34.73%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Markel Group, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $3.55 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 4.04%. This compares to year-ago revenues of $3.55 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Markel Group shares have lost about 11.8% since the beginning of the year versus the S&P 500's gain of 4.8%.
What's Next for Markel Group?While Markel Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Markel Group was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $30.28 on $4.2 billion in revenues for the coming quarter and $117.50 on $16.84 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Octave Specialty Group (OSG - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This bond insurer is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of +53.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Octave Specialty Group's revenues are expected to be $83.46 million, up 33% from the year-ago quarter.
Key Takeaways MKL reported Q1 net operating EPS of $21.61, missing estimates and worsening 16% YoY $728M net investment losses and a 2% drop in earned premiums weighed on results.MKL improved its insurance combined ratio to 93 and cut expenses 0.6%, but operating cash plunged 95.8% Markel Group Inc. (MKL - Free Report) reported first-quarter 2026 adjusted operating income of $21.61 per share, which missed the Zacks Consensus Estimate by 18.1%. The bottom line deteriorated 16% year over year.
Including one-time items, MKL reported a net loss of $18.90 per share in the first quarter of 2026.
Markel’s first-quarter results were primarily affected by significant net investment losses, and lower premium volumes drove overall operating loss, partially offset by stronger investment income and lower expenses.
Quarterly Operational Update of MKLTotal operating revenues of $3.5 billion, up 0.1% year over year, which missed the Zacks Consensus Estimate by 4%.
Earned premiums decreased 2% year over year to $2 billion in the quarter. The figure was lower than the Zacks Consensus Estimate of $2.1 billion
Net investment income increased 8% year over year to $255.9 million in the first quarter, driven by higher interest income on fixed maturity securities and higher dividend income on equity securities. The figure was lower than the Zacks Consensus Estimate of $262 million. However, this was more than offset by substantial net investment losses of $728 million.
Total operating expenses of Markel Group decreased 0.6% year over year to $3.1 billion due to lower losses and loss adjustment expenses, underwriting, acquisition, insurance expenses and other expenses.
Q1 Segment UpdateMarkel Insurance: Operating revenues decreased 1% year over year to $2.4 billion. Adjusted operating income rose 31% year over year to $369.4 million. The combined ratio improved 300 bps year over year to 93.
Industrial: Operating revenues rose 6% year over year to $883 million. Adjusted operating income decreased 16% year over year to $49.2 million.
Financial: Operating revenues decreased 9% year over year to $161.5 million. Adjusted operating income declined 55% year over year to $36.2 million.
Consumer and Other: Operating revenues declined 3% year over year to $280 million. Adjusted operating income rose 23% year over year to $39.7 million.
Financial UpdateMarkel Group exited the first quarter with investments, cash, and cash equivalents and restricted cash and cash equivalents of $36.5 billion as of March 31, 2026, down 2.6% from the 2025-end level. The decrease in invested assets was primarily attributable to a decline in the fair value of equity securities and cash used to repurchase shares of common stock.
Senior long-term debt and other debt balance increased 1.8% to $4.3 billion, as of March 31, 2026, from the 2025-end level.
Shareholders' equity was $18.1 billion at the first quarter of 2026-end, down 2.5% from the 2025-end level.
Net cash provided by operating activities was $15.6 million, down 95.8% year over year.
During the first quarter of 2026, MKL repurchased common shares worth of $134 million.
Zacks RankMarkel Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Some Other InsurersWillis Towers Watson Public Limited Company (WTW - Free Report) delivered first-quarter 2026 adjusted earnings of $3.72 per share, which beat the Zacks Consensus Estimate by 3.6%. The bottom line grew 19% year over year.
Revenues increased 3% on an organic basis and 4% on a constant currency basis. The top line beat the Zacks Consensus Estimate by 1.1%. Adjusted operating income was $537 million, up 12% year over year. Adjusted operating margin expanded 70 basis points (bps) to 22.3%. Adjusted EBITDA was $589 million, up 11% year over year. Adjusted EBITDA margin was 23.9%, which expanded 50 bps.
Cincinnati Financial Corporation (CINF - Free Report) reported first-quarter 2026 operating income of $2.10 per share, which surpassed the Zacks Consensus Estimate by 8.8%. The bottom line improved significantly, from a loss of 24 cents to $2.10 per share year over year.
Total operating revenues for the quarter were $2.9 billion, reflecting a 12% year-over-year increase, though the figure missed the Zacks Consensus Estimate by 0.7%.
Selective Insurance Group, Inc. (SIGI - Free Report) reported first-quarter 2026 operating income of $1.69 per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 11% year over year.
Operating revenues of $1.4 billion increased 6.4% from the year-ago quarter’s level, driven primarily by higher net premiums earned and net investment income. The top line, however, missed the Zacks Consensus Estimate by 0.5%. Net premiums written decreased 1% to $1.3 billion. The figure was on par with our estimate.
, /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced today the appointment of Raphael Da Costa to lead its U.S. cyber and tech E&O portfolio.
In this role, Da Costa will oversee Markel's U.S. cyber and tech E&O underwriting strategy, portfolio management and product development. He'll work closely with underwriting, claims and actuarial to support disciplined growth and deliver solutions aligned with the shifting cyber risk environment.
Raphael Da Costa to lead Markel's U.S. cyber and tech E&O portfolio. "Raphael brings deep technical knowledge and strong market experience that directly benefits our brokers and customers as cyber risks continue to evolve," said Paul Melone, Executive Underwriting Officer, Professional Liability. "We're proud to develop and promote talent from within Markel, and Raphael's leadership strengthens our ability to support clients navigating an increasingly complex cyber and technology landscape."
Da Costa has over 15 years of experience driving innovation in the cybersecurity and insurance sectors. He joined Markel in 2023 and most recently lead the strategic development and execution of U.S. cyber and technology E&O insurance products for middle market risks.
"Cyber and technology risks are changing in real time, and our customers need underwriting partners who understand both the technical detail and the broader business impact," said Da Costa. "Markel has consistently demonstrated a commitment to thoughtful underwriting and long-term relationships, and I'm excited to build on that foundation to continue supporting our brokers and clients across the U.S. market."
Da Costa is based in Markel's New York office.
About Markel
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people—and the deep, valued relationships they develop with colleagues, brokers and clients—that differentiates us worldwide.
TORONTO & NEW YORK--(BUSINESS WIRE)--Markel International, a division of Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL) announced today its partnership with hyperexponential (hx) to modernize rating, underwriting workflows and integration architecture across its Canadian business. The partnership reflects Markel’s significant investment in building a more sophisticated, AI‑native underwriting environment and further expands hyperexponential's footprint in North American markets as the leading pricing and underwriting decision platform for commercial P&C carriers.
As part of its collaboration with hyperexponential, Markel Canada has launched a purpose-built Environmental rating capability on the hx platform, enabling a more streamlined, digital experience. This investment marks a shift from fragmented, transactional pricing toward a more connected underwriting experience. By bringing data, pricing and context together in a single workflow, Markel Canada is creating an environment where underwriters have what they need at the point of decision – without friction or unnecessary hand‑offs.
Establishing the hx platform as a centralized rating layer creates a scalable foundation that can support more sophisticated products, package policies and evolving portfolio needs over time. The result is greater clarity at the point of pricing today, and a platform designed to grow with the business – enabling faster, more informed decisions as underwriting complexity and ambition increase.
“Our underwriters need tools that support good judgement, not slow it down. By pulling data directly into the rating workflow, we’re cutting friction from everyday decisions and letting our teams focus on what matters most – building trusted relationships with our broker partners, understanding risk and delivering consistent outcomes for clients,” says Cliff Laidlaw, Senior Vice President, Underwriting at Markel Canada.
Built with the future in mind, the architecture is designed to support emerging agentic and AI‑enabled capabilities as they mature, positioning Markel Canada to continue advancing toward truly AI‑native underwriting workflows.
Maureen Tomlinson, Senior Vice President of Operations at Markel Canada and Head of AI at Markel International, added: “For Markel Canada, this is about more than replacing spreadsheets. It reflects our commitment to investing in a more sophisticated underwriting environment. The hx platform gives our underwriters a better experience today, while laying the groundwork for faster delivery, stronger data capture and future AI-native workflows across the business.”
Richard Gunn, President at hyperexponential, commented: “Canada is an important market for commercial underwriting, and Markel's ambition here stands out: they're not just patching existing systems, they're building for what comes next. hyperexponential has built the leading AI-native underwriting workbench that keeps pricing, data and decisions in one place, from intake through to quote. We're proud to support a team moving with this level of pace and intent to deliver the decision infrastructure for the next era of underwriting.”
About Markel
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
About hyperexponential
hyperexponential provides the leading pricing and underwriting platform for the global commercial P&C insurance market, powering AI-assisted decisions from triage, to pricing, to portfolio optimization. Trusted by carriers processing over $60bn GWP annually, and backed by Andreessen Horowitz and Battery Ventures, the hx platform enables insurers, reinsurers, and MGAs to reduce time-to-quote, iterate on rating models faster, improve loss ratios and write a more profitable book.
, /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced an expansion of its professional liability offerings for insurance protection against fast-evolving creative, digital and professional risks. The enhancements bring together multiple coverage needs under a streamlined approach, helping customers reduce gaps and simplify coverage as the way they work continues to change.
Markel's enhanced ProSolutions portfolio, a suite of professional liability products designed for specialized risks, now includes:
A new combined policy that brings professional liability, cyber, media liability and general liability coverages into a single policy. New Media Shield and Entertainment Shield product options designed for qualified content creators, media professionals and entertainment‑focused businesses. "We continue to see risk evolution across the marketplace, especially in media liability," said Melissa Sowa, Managing Director, E&O Product Line Leadership. "It has never been easier to create and distribute content, and we are operating in an era where social media dominates. As media expands, so does its complexity."
Media liability insurance is no longer limited to traditional media companies. Content creators, creative professionals, digital and social media managers, public figures and third‑party endorsers all face increased exposure as online and social platforms continue to grow. Markel's expanded ProSolutions offering is designed to help customers address these evolving risks with broader, more flexible coverage options.
Designed to simplify coverage placement, the new blended ProSolutions form allows customers to consolidate multiple coverage needs into a single policy, reducing complexity and better aligning insurance protection with interconnected risks. The expanded appetites and new coverage options further enable brokers to respond to customer needs in an increasingly competitive market.
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people—and the deep, valued relationships they develop with colleagues, brokers and clients—that differentiates us worldwide. Coverage is provided by one or more of the insurance companies within Markel. Insurance and coverage are subject to terms, conditions, availability, and qualifications and may not be available in all states.
Key Takeaways Markel Canada launched an Environmental rating capability on hyperexponential's hx platform.MKL is replacing spreadsheet pricing with centralized underwriting and decision tools.The AI-driven setup aims to improve pricing accuracy, speed and underwriting efficiency. Markel Group Inc.(MKL - Free Report) is strengthening its push toward AI-driven underwriting through a partnership between Markel International and hyperexponential to modernize rating, underwriting workflows and integration architecture across its Canadian business. The initiative reflects Markel Group’s broader strategy of building a more sophisticated AI-native underwriting environment while expanding hyperexponential’s presence in North American commercial property and casualty insurance markets.
As part of the partnership, Markel Canada has launched a purpose-built environmental rating capability on the hx platform, enabling a more streamlined and digital underwriting experience. The move shifts the company away from fragmented spreadsheet-based pricing systems toward a centralized workflow where underwriting data, pricing models and decision-making tools are integrated into a single platform. By reducing manual processes and unnecessary hand-offs, Markel Group aims to improve underwriting speed and support more informed risk-selection decisions.
The partnership is strategically important because underwriting quality remains one of the key profitability drivers in the commercial property and casualty insurance market. The AI-powered setup helps underwriters make faster, more informed decisions while reducing manual work. The platform can automatically pull data, support pricing calculations and simplify workflows, allowing employees to focus more on understanding risks and serving broker partners and clients.
The hx platform aligns with Markel Group’s broader long-term strategy of leveraging technology and AI to strengthen underwriting discipline and operational efficiency. As insurance products become more complex, the company is investing in technology to improve pricing accuracy, speed up policy decisions and support long-term operational efficiency. Continued modernization of underwriting capabilities is likely to enhance Markel Group’s competitive positioning while supporting long-term profitability and underwriting performance.
How Are Competitors Faring?Peers like American International Group (AIG - Free Report) and Allianz SE (ALIZY - Free Report) are also accelerating investments in AI-driven underwriting through strategic partnerships.
AIG recently partnered with McGill and Partners to use agentic AI and real-time underwriting capabilities for specialty insurance portfolios, leveraging Palantir’s Foundry platform to improve risk assessment and underwriting efficiency. The initiative reflects the broader industry shift toward AI-powered underwriting workflows and data-driven decision-making in commercial insurance.
Allianz expanded its AI strategy through a global partnership with Anthropic, focused on agentic AI, underwriting automation and operational efficiency. The partnership aims to automate complex insurance workflows, improve claims and underwriting processes and build AI systems capable of supporting regulatory compliance and large-scale decision-making.
MKL’s Price Performance, Valuation & EstimatesShares of MKL have declined 2.4% over the past year against the industry’s 1% growth .
Image Source: Zacks Investment Research
From a valuation standpoint, MKL trades at a forward price-to-earnings ratio of 15.37X, up from the industry average of 9.04X. MCY carries a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 and 2027 earnings moved 3.2% and 0.5% south, respectively, in the last 30 days.
Image Source: Zacks Investment Research
The consensus estimates for MCY’s 2026 and 2027 revenues & EPS indicate a year-over-year increase.
Markel Group currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. (NYSE:MKL), today announced the appointment of Sebastian Rice to Head of Global Development – Trade Credit, effective immediately.
Sebastian Rice, Head of Global Development - Trade Credit Reporting to Phil Amlot, Global Head of Trade Credit – International, Rice will work closely with him to drive innovative, solution-led underwriting and develop bespoke offerings that respond to evolving market conditions and client needs across Markel's global hubs. His role will include supporting clients navigating an increasingly complex trade environment shaped by geopolitical uncertainty, supply chain disruption and shifting credit risks.
Rice will also co-ordinate a global cohort of Trade Credit underwriters across Markel's offices in New York, Singapore, Dubai and London to align with our key partner relationships. He'll focus on business development and driving further profitable growth across the UK and Europe, with an emphasis on delivering greater capacity, tailored solutions and enhanced service for brokers and clients.
Since joining Markel two years ago, Rice has played a key role in developing new solutions, including Markel's Non-Cancellable Limits offering, which enables clients to operate with greater certainty in the event of non-payment. In his new role, he'll build on this momentum to further strengthen Markel's position as a trade credit insurer of choice for multinational businesses.
Commenting on the appointment, Amlot said: "Markel International's success and sustained growth are driven by colleagues like Seb, who are committed to working alongside our clients to deliver tailored solutions. He takes the time to understand client needs and responds with precision, rather than offering a one-size-fits-all approach.
With demand for trade credit insurance at record levels and underwriting conditions becoming increasingly complex, Seb's expertise and leadership will be invaluable as we help clients navigate increased risk and build enhanced resilience. He's already strengthened our position across the London and European markets, and I'm confident he'll bring the same discipline and commercial insight to this global role."
Rice added: "I'm proud of the profitable growth we've achieved in the London market and continental Europe since joining Markel. In a period defined by shifting supply chains and evolving economic conditions, we've focused on being a consistent and reliable partner for our brokers and clients.
This progress reflects the dedication and expertise of our underwriters. I look forward to leading the next phase of our global development and continuing to deliver solutions that support our clients' ambitions."
Rice brings more than 20 years of underwriting experience, having held roles at Euler Hermes, Atradius and QBE Europe. He joined Markel in January 2024 as Head of Business Development Europe – Trade Credit, where he strengthened the International division's non-payment protection offering across the UK and continental Europe.
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers, and clients – that differentiates us worldwide.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. (NYSE:MKL), today announced the appointment of Sebastian Rice to Head of Global Development – Trade Credit, effective immediately.
Sebastian Rice, Head of Global Development - Trade Credit Reporting to Phil Amlot, Global Head of Trade Credit – International, Rice will work closely with him to drive innovative, solution-led underwriting and develop bespoke offerings that respond to evolving market conditions and client needs across Markel's global hubs. His role will include supporting clients navigating an increasingly complex trade environment shaped by geopolitical uncertainty, supply chain disruption and shifting credit risks.
Rice will also co-ordinate a global cohort of Trade Credit underwriters across Markel's offices in New York, Singapore, Dubai and London to align with our key partner relationships. He'll focus on business development and driving further profitable growth across the UK and Europe, with an emphasis on delivering greater capacity, tailored solutions and enhanced service for brokers and clients.
Since joining Markel two years ago, Rice has played a key role in developing new solutions, including Markel's Non-Cancellable Limits offering, which enables clients to operate with greater certainty in the event of non-payment. In his new role, he'll build on this momentum to further strengthen Markel's position as a trade credit insurer of choice for multinational businesses.
Commenting on the appointment, Amlot said: "Markel International's success and sustained growth are driven by colleagues like Seb, who are committed to working alongside our clients to deliver tailored solutions. He takes the time to understand client needs and responds with precision, rather than offering a one-size-fits-all approach.
With demand for trade credit insurance at record levels and underwriting conditions becoming increasingly complex, Seb's expertise and leadership will be invaluable as we help clients navigate increased risk and build enhanced resilience. He's already strengthened our position across the London and European markets, and I'm confident he'll bring the same discipline and commercial insight to this global role."
Rice added: "I'm proud of the profitable growth we've achieved in the London market and continental Europe since joining Markel. In a period defined by shifting supply chains and evolving economic conditions, we've focused on being a consistent and reliable partner for our brokers and clients.
This progress reflects the dedication and expertise of our underwriters. I look forward to leading the next phase of our global development and continuing to deliver solutions that support our clients' ambitions."
Rice brings more than 20 years of underwriting experience, having held roles at Euler Hermes, Atradius and QBE Europe. He joined Markel in January 2024 as Head of Business Development Europe – Trade Credit, where he strengthened the International division's non-payment protection offering across the UK and continental Europe.
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers, and clients – that differentiates us worldwide.
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, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. NYSE:MKL , today announced the appointment of Sebastian Rice to Head of Global Development – Trade Credit, effective immediately.
Reporting to Phil Amlot, Global Head of Trade Credit – International, Rice will work closely with him to drive innovative, solution-led underwriting and develop bespoke offerings that respond to evolving market conditions and client needs across Markel's global hubs. His role will include supporting clients navigating an increasingly complex trade environment shaped by geopolitical uncertainty, supply chain disruption and shifting credit risks.
Rice will also co-ordinate a global cohort of Trade Credit underwriters across Markel's offices in New York, Singapore, Dubai and London to align with our key partner relationships. He'll focus on business development and driving further profitable growth across the UK and Europe, with an emphasis on delivering greater capacity, tailored solutions and enhanced service for brokers and clients.
Since joining Markel two years ago, Rice has played a key role in developing new solutions, including Markel's Non-Cancellable Limits offering, which enables clients to operate with greater certainty in the event of non-payment. In his new role, he'll build on this momentum to further strengthen Markel's position as a trade credit insurer of choice for multinational businesses.
Commenting on the appointment, Amlot said: "Markel International's success and sustained growth are driven by colleagues like Seb, who are committed to working alongside our clients to deliver tailored solutions. He takes the time to understand client needs and responds with precision, rather than offering a one-size-fits-all approach.
With demand for trade credit insurance at record levels and underwriting conditions becoming increasingly complex, Seb's expertise and leadership will be invaluable as we help clients navigate increased risk and build enhanced resilience. He's already strengthened our position across the London and European markets, and I'm confident he'll bring the same discipline and commercial insight to this global role."
Rice added: "I'm proud of the profitable growth we've achieved in the London market and continental Europe since joining Markel. In a period defined by shifting supply chains and evolving economic conditions, we've focused on being a consistent and reliable partner for our brokers and clients.
This progress reflects the dedication and expertise of our underwriters. I look forward to leading the next phase of our global development and continuing to deliver solutions that support our clients' ambitions."
Rice brings more than 20 years of underwriting experience, having held roles at Euler Hermes, Atradius and QBE Europe. He joined Markel in January 2024 as Head of Business Development Europe – Trade Credit, where he strengthened the International division's non-payment protection offering across the UK and continental Europe.
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers, and clients – that differentiates us worldwide.
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Wall Street has rediscovered the stock split. KLA (NASDAQ: KLAC | KLAC Price Prediction) announced a 10-for-1 forward stock split in May 2026, alongside its fiscal Q3 earnings beat and paired with a roughly 21% dividend hike, with shares trading around the $1,800 range.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. NYSE:MKL , today announced the appointment of Danny O'Donoghue to Head of Fine Art & Specie, effective immediately.
In his new role, O'Donoghue will be responsible for leading the strategic and sustainable expansion of Markel's Fine Art & Specie portfolio to further enhance the organisation's position in London as a leading Fine Art & Specie insurer. His principal duties will include identifying, assessing and underwriting complex risks across four key areas – Fine Art, Specie, Jewellers Block and Cash in Transit – while supporting underwriters in his team with their professional development.
Alongside these duties, O'Donoghue will foster broker relationships and work closely with Markel's Claims and Actuarial functions, where he'll keep abreast of industry developments, ensuring coverage remains tailored for broker partners and insureds. Furthermore, he'll identify collaborative opportunities across the business' international Fine Art & Specie teams to enhance broker service levels and drive further profitable growth.
O'Donoghue will be based in London, reporting to Dan McCarthy, Director of Marine at Markel International.
McCarthy commented: "Rising asset values, a surge in high-profile thefts and more frequent natural catastrophes are creating new risks while intensifying existing exposures for galleries, jewellers and private collectors. Danny's achievements are underpinned by an entrepreneurial mindset, which will be critical as we continue to deliver best-in-class underwriting services, support and standards to our brokers and clients.
"We're delighted to have someone of Danny's caliber join Markel's Fine Art & Specie team here in London. With his significant expertise in managing and scaling large Fine Art Specie portfolios, we're confident he'll be able to take ours to new heights, elevating our leadership position in the London Market."
O'Donoghue said: "I'm delighted to be joining Markel in my new role as Head of Fine Art & Specie. Opportunities like this don't come around often, but Markel really stood out to me. I saw strong cultural alignment, a clear and unified proposition and a well-defined strategic direction – all of which I believe are essential building blocks to continue growing the team and portfolio for years to come.
"I'm excited to drive the continued expansion of Markel's lead specialist capabilities across the Fine Art & Specie market and support our brokers and clients across an evolving and complex risk landscape."
O'Donoghue possesses more than 15 years' underwriting experience, spending 13 of them specialising in Fine Art & Specie insurance. Previously, he was employed at Talbot as Head of Fine Art & Specie, where he led global strategy and execution for Fine Art & Specie across Lloyd's Syndicate 1183 and AIG company platforms. Prior to this position, he worked at Aspen for more than 10 years as a Senior Fine Art & Specie Underwriter.
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
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A month has gone by since the last earnings report for Markel Group (MKL - Free Report) . Shares have added about 5% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Markel Group due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Markel Group Inc. before we dive into how investors and analysts have reacted as of late.
Markel Q1 Earnings & Revenues Miss Estimates, Premiums Down Y/Y
Markel Group Inc. reported first-quarter 2026 adjusted operating income of $21.61 per share, which missed the Zacks Consensus Estimate by 18.1%. The bottom line deteriorated 16% year over year. Including one-time items, MKL reported a net loss of $18.90 per share in the first quarter of 2026.
Markel’s first-quarter results were primarily affected by significant net investment losses, and lower premium volumes drove overall operating loss, partially offset by stronger investment income and lower expenses.
Quarterly Operational Update of MKLTotal operating revenues of $3.5 billion, up 0.1% year over year, which missed the Zacks Consensus Estimate by 4%. Earned premiums decreased 2% year over year to $2 billion in the quarter. The figure was lower than the Zacks Consensus Estimate of $2.1 billion
Net investment income increased 8% year over year to $255.9 million in the first quarter, driven by higher interest income on fixed maturity securities and higher dividend income on equity securities. The figure was lower than the Zacks Consensus Estimate of $262 million. However, this was more than offset by substantial net investment losses of $728 million.
Total operating expenses of Markel Group decreased 0.6% year over year to $3.1 billion due to lower losses and loss adjustment expenses, underwriting, acquisition, insurance expenses and other expenses.
Q1 Segment UpdateMarkel Insurance: Operating revenues decreased 1% year over year to $2.4 billion. Adjusted operating income rose 31% year over year to $369.4 million. The combined ratio improved 300 bps year over year to 93.
Industrial: Operating revenues rose 6% year over year to $883 million. Adjusted operating income decreased 16% year over year to $49.2 million.
Financial: Operating revenues decreased 9% year over year to $161.5 million. Adjusted operating income declined 55% year over year to $36.2 million.
Consumer and Other: Operating revenues declined 3% year over year to $280 million. Adjusted operating income rose 23% year over year to $39.7 million.
Financial UpdateMarkel Group exited the first quarter with investments, cash, and cash equivalents and restricted cash and cash equivalents of $36.5 billion as of March 31, 2026, down 2.6% from the 2025-end level. The decrease in invested assets was primarily attributable to a decline in the fair value of equity securities and cash used to repurchase shares of common stock.
Senior long-term debt and other debt balance increased 1.8% to $4.3 billion, as of March 31, 2026, from the 2025-end level. Shareholders' equity was $18.1 billion at the first quarter of 2026-end, down 2.5% from the 2025-end level.
Net cash provided by operating activities was $15.6 million, down 95.8% year over year. During the first quarter of 2026, MKL repurchased common shares worth of $134 million.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.
VGM ScoresCurrently, Markel Group has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Interestingly, Markel Group has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerMarkel Group is part of the Zacks Insurance - Multi line industry. Over the past month, Principal Financial (PFG - Free Report) , a stock from the same industry, has gained 5%. The company reported its results for the quarter ended March 2026 more than a month ago.
Principal Financial reported revenues of $3.52 billion in the last reported quarter, representing a year-over-year change of -12.4%. EPS of $2.07 for the same period compares with $1.81 a year ago.
Principal Financial is expected to post earnings of $2.33 per share for the current quarter, representing a year-over-year change of +7.9%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.4%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Principal Financial. Also, the stock has a VGM Score of C.
Markel trades at multiyear lows relative to book value despite resilient book value growth and improving investment income. MKL's underwriting issues, notably adverse reserve development, have largely been addressed, with combined ratios improving from 98% to 94%. Investment income and gross premium volume are rising, positioning MKL for 13%+ average annual intrinsic value growth.
, /PRNewswire/ -- Markel Insurance, the insurance operation within Markel Group Inc. (NYSE: MKL), today announced the appointment of Dan McCarthy as Managing Director of its newly structured Marine, Energy and Construction division in its London Market business.
The appointment forms part of Markel International's continued evolution of its London Market business, creating a clearer, more scalable Marine, Energy and Construction structure that supports sustainable growth and makes it easier for brokers to access specialist underwriting expertise.
Dan McCarthy, Managing Director - Marine, Energy & Construction at Markel International. In his new role, McCarthy will lead the Marine, Energy and Construction division, with responsibility for shaping underwriting strategy, driving disciplined portfolio performance and strengthening broker and client relationships across highly specialised markets. He will also focus on giving brokers clearer points of contact, more consistent decision-making and stronger alignment across related specialty lines.
The division will comprise four specialist teams:
Marine & Transportation Cargo & Cargo War, Fine Art and Specie Energy & Power Construction & Engineering. Within Marine & Transportation, the new structure will bring together closely connected classes including Hull & Hull War, MECO, Marine & Energy Liabilities and Transport & Logistics, helping brokers access connected expertise and identify opportunities across the wider marine and transportation portfolio.
Overall, this structure has been designed to create clearer accountability, enhance ease of trading and enable the division's people and the business to grow further over the coming years.
McCarthy brings nearly 30 years' experience in global marine insurance, with deep technical underwriting expertise and a strong track record of delivering profitable growth across complex portfolios. He most recently served as Director of Marine at Markel International, where he led the division across London and the US, rebuilding key product lines and strengthening its market presence.
Throughout his career, McCarthy has demonstrated a consistent ability to shape underwriting strategy, build strong broker and client relationships, and develop high-performing teams, while championing innovation and continuous improvement across the business.
Under his leadership, the division will focus on strengthening product leadership, investing in technology, talent and partnerships to drive long-term value. The business is targeting significant profitable growth over the next five years, underpinned by disciplined underwriting and a continued focus on being a responsive, technically led market for complex marine, energy, power, construction and engineering risks.
Rohan Davies, Managing Director – London Market, commented: "Dan is a highly respected leader with deep market expertise and a proven ability to deliver disciplined, profitable performance across complex international portfolios. His leadership will be critical as we bring together our Marine, Energy and Construction capabilities into a more focused and scalable structure. This new division enhances how we serve our brokers and clients, while positioning us strongly for the next phase of growth.
"For brokers, this new structure is about clarity, access and confidence. With distinct product teams and clear leadership, we're making it easier for our partners to reach the right decision-makers and access joined-up solutions for complex and evolving risks."
"I'm delighted to take on this role," added McCarthy. "Marine & Energy has always been defined by ambition, expertise and the courage to lead, and with our newly formed Construction & Engineering team, we are now building on those foundations to shape what comes next. Our focus is on building a future-ready business that combines disciplined underwriting, innovation and empowered teams to deliver clarity in complexity and long-term value for clients and partners.
"By creating a clear structure across Marine, Energy and Construction, we're not only strengthening our market presence today, but building an environment where our people can develop, lead and help shape the future of the division. That matters for brokers too, because strong specialist teams, clear accountability and empowered underwriting talent are central to delivering the service, responsiveness and technical insight they need from a London Market partner."
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
Key Takeaways MKL aims to reach $10B in annual insurance premiums and $1B in underwriting profit in five years.Markel is investing in AI-powered underwriting and expanding capabilities through acquisitions.MKL held $36B in investments and cash, while engaging in share repurchases. Shares of Markel Group Inc. (MKL - Free Report) have declined 15.4% year-to-date compared with the industry’s fall of 5.4%.
Investment portfolio losses, lower premium volume and earnings estimate cuts are pushing the stock down. Markel’s first-quarter 2026 earnings missed expectations, which has weighed on the insurer. However, strong underwriting discipline, strategic acquisitions, international diversification and its niche insurance expertise position the company for sustainable growth ahead.
Some other insurers, like Assurant, Inc. (AIZ - Free Report) , CNO Financial Group, Inc. (CNO - Free Report) and MetLife, Inc. (MET - Free Report) , have risen 6.9%, 12.8% and 7.1%, respectively, in the said time frame.
YTD Price Performance – MKL, AIZ, CNO, MET, Industry & S&P 500
Image Source: Zacks Investment Research
Average Target Price for MKL Suggests UpsideBased on short-term price targets offered by four analysts, the Zacks average price target is $2,036.75 per share. The average suggests a potential 14.5% upside from the last closing price.
Image Source: Zacks Investment Research
MKL’s ValuationMKL shares are trading at a discount to the industry. Its price-to-book value of 1.26X is lower than the industry average of 2.51X.
Image Source: Zacks Investment Research
MKL’s Favorable ROICReturn on invested capital (ROIC) in the trailing-12 months was 5.8%, better than the industry average of 2.2%, reflecting MKL’s efficiency in utilizing funds to generate income.
What Aids MKL's Performance?Markel’s operational results are primarily driven by better performance at its Insurance, Industrial, Financial, Consumer and Other segments. The performance can be attributed to its niche focus, improved pricing and effective risk management. The company expects its specialty insurance operations to remain the primary source of capital generation, supporting expansion and future investments.
MKL looks to double the size of its insurance operations and targets $10 billion of annual insurance premiums in five years. This should lead to $1 billion of annual underwriting profit. The company expects to achieve this goal primarily through organic growth of its existing profitable operations. Investment income should continue to benefit from fixed maturity securities, higher yield and higher average holdings.
Markel strives to grow via acquisitions and organic initiatives to diversify its portfolio and expand its international footprint. Acquisitions have helped the company enhance its surety capabilities. Acquisitions like Valor Environmental and EPI continue to contribute significantly to its top line, highlighting the company's ability to drive growth through this strategy. Markel's acquisition of MECO expands its marine insurance capabilities and strengthens its presence in key international markets such as London, Dubai, Shanghai and Hamburg.
Markel has partnered with hyperexponential to modernize rating, underwriting workflows and integration architecture across its Canadian business. This partnership highlights management's focus on AI-powered underwriting, which could improve risk selection, operational efficiency and long-term profitability.
Markel boasts strong liquidity levels. We expect to see an improvement moving ahead, owing to a robust capital position. MKL exited the first quarter with investments, cash and cash equivalents of $36 billion as of March 31, 2026. The company engages in share buybacks, a prudent way to distribute wealth to its shareholders.
Estimates for MKLThe Zacks Consensus Estimate for Markel’s 2026 earnings per share (EPS) is pegged at $113.55, indicating a year-over-year increase of 17.4%. However, it has witnessed three downward movements and one upward revision over the past 60 days. During this time, the earnings estimate declined 3.4%.
The estimate for 2026 revenues is pegged at $16.88 billion, implying a year-over-year improvement of 10.3%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 8.4% and 2.9%, respectively, from the corresponding 2026 estimates.
Earnings have grown 18.3% in the past five years, better than the industry average of 10.4%.
Risks for MKLMarkel is exposed to catastrophe losses, inducing volatility in underwriting results. Exposure to catastrophe losses always remains a concern, given its unprecedented nature.
Markel has been experiencing an increase in operating expenses due to higher losses and loss adjustment expenses, underwriting, acquisition and insurance expenses.
Markel’s debt levels have increased over the past few years. Senior long-term debt and other debt balance increased 1.8% to $4.4 billion, as of March 31, 2026.
ConclusionMarkel's niche focus, improved pricing, effective management of insurance risk, and focus on developing and maintaining underwriting as well as pricing guidelines should drive growth. However, exposure to catastrophic losses, a rise in debt levels and an increase in operating expenses are concerns.
Coupled with the favourable ROIC, strategic acquisitions and impressive wealth distribution, but recent earnings estimate cuts, it is wise to retain this Zacks Rank #3 (Hold) insurer. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
