Markel

Markel operates the same three-engine strategy of insurance, public equities and Markel Ventures, with $18.84 billion of float and $429.5 million in buybacks in 2025. Underwriting improved as the combined ratio fell to 94.6% in 2025 and prior-year reserve development was favorable, yet the stock is down 17% year-to-date and materially trails Berkshire's long-term returns. Key drivers for the investment case are whether the combined ratio remains in the low 90s, buybacks continue at pace, and Markel keeps Ventures within the group. » Altro su finance.yahoo.com

Markel is expanding its workers' compensation offering in California by partnering with Midwest General Insurance Agency, a subsidiary of Acrisure. Midwest brings online quoting capabilities and long-standing experience as an managing general agent in the California market, along with skills in marketing, underwriting, policy administration, claims handling and loss prevention. Markel highlights the fit of Midwest's data-driven risk selection with profitable portfolio development. » Altro su de.investing.com

Markel Canada has appointed Marc Copland as vice president and head of the newly created property insurance division. Copland will be responsible for the property insurance portfolio, lead underwriting teams and technical specialists, and drive the deployment of AI, data analytics and underwriting technology. Markel identifies property insurance as a growth area; the parent company most recently recorded $16 billion in revenue and a 10% return on equity. » Altro su de.investing.com

Markel reported Q4 2025 adjusted EPS of $48.75, well above the $25.73 estimate, improved combined ratio to 94.6%, and repurchased $429.5 million of stock. Shareholders' equity reached $18.6 billion and the stock has returned about 32.5% over the past three years, trading near 13 times trailing earnings and a 1.23 price-to-book. The company follows an insurance-float compounding model similar to Berkshire, illustrating that Benjamin Graham–style value investing can generate strong long-term returns across different portfolios. » Altro su finance.yahoo.com

Effective Jan. 1, 2026, Hagerty assumed 100% of premium and underwriting risks via a fronting agreement with Markel, driving strong operational growth but incurring high one‑off conversion costs. In Q1 2026 the company reported revenue of $312m, a net loss of $13m and pre‑tax conversion costs of $89m; written gross premiums rose 18% to $289m and earned premiums rose 42% to $240m. Adjusted EBITDA grew 77% to $85m and policies increased to 1.8m with 112,000 new members in the quarter. For 2026 management expects written premiums of $1,373–1,385m, revenue to decline to $1,280–1,300m due to accounting effects and a net loss of $51–41m, while adjusted EBITDA is expected to remain stable or rise slightly at $236–247m. » Altro su de.investing.com