RICHMOND, Va., April 30, 2019 /PRNewswire/ -- Markel
Corporation (NYSE: MKL) reported operating revenues of $2.5 billion for the first quarter of 2019
compared to $1.6 billion for the
first quarter of 2018. Comprehensive income to shareholders was
$732.2 million for the first quarter
of 2019 compared to a comprehensive loss of $174.8 million for the first quarter of 2018.
Diluted net income per share was $42.76 for the quarter ended March 31, 2019 compared to diluted net loss per
share of $4.25 for the first quarter
of 2018. The combined ratio was 95% for the first quarter of
2019 compared to 90% for the first quarter of 2018. Book value per
common share outstanding was $706.98
at March 31, 2019, up 8% from
$653.85 at December 31, 2018.
Thomas S. Gayner and Richard R. Whitt, Co-Chief Executive Officers,
commented, "Our results for the quarter reflect strong performance
in our investment portfolio, largely driven by favorable movements
in the equity markets. We experienced organic growth within both
our underwriting and Markel Ventures operations, and our results
also reflect contributions from our recent acquisitions of Brahmin,
within our Markel Ventures operations, and Nephila, within our
insurance-linked securities operations."
The Company also announced today it has filed its Form 10-Q for
the quarter ended March 31, 2019 with
the Securities and Exchange Commission. A copy of the Form 10-Q is
available on the Company's website at www.markel.com or on the SEC
website at www.sec.gov. Readers are urged to review the Form
10-Q for a more complete discussion of the Company's financial
performance. The Company's quarterly conference call, which will
involve discussion of the Company's financial results and business
developments and may include forward-looking information, will be
held Wednesday, May 1, 2019,
beginning at 9:30 a.m. (Eastern
Time). Any person interested in listening to the call should
contact Markel's Investor Relations Department at 804-747-0136 or
investorrelations@markel.com. Investors, analysts and the general
public also may listen to the call free over the Internet through
the Company's website, www.markel.com. A replay of the call
also will be available from approximately one hour after the
conclusion of the call until Monday, May 13,
2019.
About Markel Corporation
Markel Corporation is a
diverse financial holding company serving a variety of niche
markets. The Company's principal business markets and underwrites
specialty insurance products. In each of the Company's businesses,
it seeks to provide quality products and excellent customer service
so that it can be a market leader. The financial goals of the
Company are to earn consistent underwriting and operating profits
and superior investment returns to build shareholder value. Visit
Markel Corporation on the web at www.markel.com.
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SOURCE Markel Corporation