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Simple Breakdown: Sorts of Well being Insurance coverage Insurance policies

Fundamental Sorts of Well being Insurance coverage Insurance policies:Particular person Well being Insurance coverage:Household Floater Well being Insurance coverage:Senior Citizen Well being Insurance...
HomeInsuranceMarkel Group broadcasts interim outcomes

Markel Group broadcasts interim outcomes


Markel Group broadcasts interim outcomes | Insurance coverage Enterprise America



Numbers present main turnaround

Markel Group announces interim results


Insurance coverage Information

By
Terry Gangcuangco



Markel Group, a various household of companies with specialty insurance coverage at its core, has reported the agency’s monetary outcomes for the quarter and 9 months ended September 30, 2023.

Right here’s how the corporate fared within the two intervals, as proven in its earnings launch:  






Metric

Q3 2023

Q3 2022

9M 2023

9M 2022

Earned premiums

$2.12 billion

$1.96 billion

$6.12 billion

$5.55 billion

Markel Ventures working revenues

$1.25 billion

$1.22 billion

$3.74 billion

$3.53 billion

Web funding earnings

$192.2 million

$112.6 million

$521.2 million

$301.7 million

Complete earnings / (loss) to shareholders

$(107.5 million)

$(348 million)

$1.10 billion

$(2.08 billion)

 

In line with Markel Group, its underwriting outcomes included $46.2 million of internet losses and loss adjustment bills attributed to the Hawaiian wildfires and Hurricane Idalia.

Commenting on the interim financials, chief government Tom Gayner mentioned: “Markel Ventures delivered distinctive margins and money flows this quarter, and our internet funding earnings was up considerably.

“Moreover, our insurance coverage engine generated robust money flows for our investments engine whereas remaining intensely centered on navigating present insurance coverage market dynamics and shaping our portfolio for long-term worth creation.

“This quarter stands as yet one more instance that we are able to go so much additional and quicker on our highway to construct one of many world’s nice firms with three engines as a substitute of only one.”

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