Results season continues with Markel Corporation among the latest to provide a sneak peak of their 2019 performance.
The holding company – the name behind the likes of Markel International, Markel Assurance, and Markel Specialty – has released both its second quarter and first half figures. Here’s how the group fared so far this year:
- Operating revenues – US$2.4 billion (around £2 billion), up from US$2 billion (£1.6 billion) in the same period in 2018
- Comprehensive income to shareholders – US$623.3 million (£512.9 million), up from US$164.3 million (£135.2 million)
- Diluted net income per share – US$36.07 (£29.68), up from US$19.97 (£16.43)
First six months
- Operating revenues – US$4.9 billion (£4 billion), up from US$3.6 billion (£3 billion)
- Comprehensive income – US$1.4 billion (£1.2 billion), a turnaround from a comprehensive loss of US$10.5 million (£8.6 million)
- Diluted net income per share – US$78.85 (£64.88), up from US$15.72 (£12.93)
Meanwhile, Markel’s combined ratio for both the second quarter and first half stood at 95%.
Commenting on the results, co-chief executive officers Thomas S. Gayner and Richard R. Whitt said in a joint statement: “All three of our operating engines made meaningful contributions to our results in the first six months of 2019.
“We continued to see outstanding performance in our investment portfolio, with over US$1 billion of net investment gains in the first half of the year. Operating results attributable to our Markel Ventures operations increased substantially, and we also experienced premium growth in our underwriting operations.”