RICHMOND, Va., July 30, 2019 /PRNewswire/ -- Markel
Corporation (NYSE:MKL) reported operating revenues of $2.4 billion for the second quarter of 2019
compared to $2.0 billion for the
second quarter of 2018. Operating revenues were $4.9 billion for the six months ended
June 30, 2019 compared to operating
revenues of $3.6 billion for the same
period of 2018. Comprehensive income to shareholders was
$623.3 million for the second quarter
of 2019 compared to $164.3 million
for the second quarter of 2018. Comprehensive income to
shareholders was $1.4 billion for the
six months ended June 30, 2019
compared to a comprehensive loss to shareholders of $10.5 million for the same period of 2018.
Diluted net income per share was $36.07 for the quarter ended June 30, 2019 compared to $19.97 for the second quarter of 2018. Diluted
net income per share was $78.85 for
the six months ended June 30, 2019
compared to $15.72 for the same
period of 2018. The combined ratio was 95% for the second quarter
of 2019 compared to 92% for the second quarter of 2018. The
combined ratio was 95% for the six months ended June 30, 2019 compared to 91% for the same period
of 2018. Book value per common share outstanding was $751.94 at June 30,
2019, up 15% from $653.85 at
December 31, 2018.
Thomas S. Gayner and Richard R. Whitt, Co-Chief Executive Officers,
commented, "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 $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."
The Company also announced today it has filed its Form 10-Q for
the quarter ended June 30, 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, July 31, 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, August
12, 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