Markel Reports 2019 Financial Results
Markel Corporation reported operating revenues of $9.5 billion for 2019 compared to $6.8 billion in 2018.
The company said, “Markel Corporation reported operating revenues of $9.5 billion for the year ended December 31, 2019 compared to $6.8 billion in 2018. Comprehensive income to shareholders was $2.1 billion for the year ended December 31, 2019 compared to comprehensive loss to shareholders of $375.8 million in 2018.
“Diluted net income per share was $129.07 for the year ended December 31, 2019 compared to diluted net loss per share of $9.55 in 2018. The combined ratio was 94% in 2019 compared to 98% in 2018. Book value per common share outstanding was $802.59 at December 31, 2019 compared to $653.85 at December 31, 2018.
“Over the five-year period ended December 31, 2019, the compound annual growth in book value per common share outstanding was 8%. Over the five-year period ended December 31, 2019, our share price increased at a compound annual rate of 11%.”
Thomas S. Gayner and Richard R. Whitt, Co-Chief Executive Officers, commented, “Following continued growth in our insurance and Markel Ventures operations, 2019 was a record-setting year for Markel. Gross written premiums from our underwriting operations surpassed $6 billion, and we are excited about the synergies we are achieving between our underwriting and other insurance platforms.
“Within our Markel Ventures operations, revenues surpassed $2 billion and we continued to expand through our fourth quarter acquisition of VSC Fire & Security. Gains on our investment portfolio were just under $2 billion, driving record comprehensive income and book value per share. We are proud of what we accomplished in 2019 and want to thank our dedicated associates for their significant contributions, which support our aspiration to become one of the world’s great companies.”
