Markel Group reports 2024 third quarter and nine-months results

RICHMOND, Va., Oct. 30, 2024 /PRNewswire/ -- Markel Group Inc. (NYSE:MKL) today reported its financial results for the third quarter of 2024. The Company also announced today it filed its Form 10-Q for the quarter ended September 30, 2024 with the Securities and Exchange Commission. Markel Group aspires to build one of the world's great companies and deploys three financial engines in pursuit of this goal: Insurance, Investments and Markel Ventures.

"We've consistently emphasized the value of our family of businesses that have found a home under the Markel Group umbrella. The results of 2024 so far underscore that benefit. Many of our businesses performed exceptionally, others made solid improvements where there was room for improvement, and a few faced slowdowns or challenges," said Tom Gayner, Chief Executive Officer. "Overall, we achieved strong results, and we're confident in our long-term ability for that to continue to be the case."

The following table presents summary financial data, by engine, for the quarters and nine months ended September 30, 2024 and 2023.

Quarter Ended September 30,

Nine Months Ended September 30,

(dollars in thousands, except per share amounts)

2024

2023

2024

2023

Operating revenues:

Insurance

$    2,185,758

$        2,208,352

$    6,519,744

$        6,327,165

Investments:

Net investment income

233,384

191,015

671,042

518,536

Net investment gains (losses)

917,530

(265,917)

1,689,794

591,173

Other

14,971

(5,033)

45,174

(13,791)

Total Investments

1,165,885

(79,935)

2,406,010

1,095,918

Markel Ventures

1,259,621

1,246,769

3,854,008

3,738,028

Total operating revenues

$    4,611,264

$        3,375,186

$  12,779,762

$      11,161,111

Operating income:

Insurance (1)

$        145,273

$             69,870

$        458,023

$           444,571

Investments:

Net investment income

233,384

191,015

671,042

518,536

Net investment gains (losses)

917,530

(265,917)

1,689,794

591,173

Other

14,971

(5,033)

45,174

(13,791)

Total Investments

1,165,885

(79,935)

2,406,010

1,095,918

Markel Ventures

106,627

130,420

388,040

392,648

Consolidated segment operating income (2)

1,417,785

120,355

3,252,073

1,933,137

Amortization of acquired intangible assets

(46,459)

(47,545)

(134,981)

(136,367)

Total operating income

$    1,371,326

$             72,810

$    3,117,092

$        1,796,770

Comprehensive income (loss) to shareholders

$    1,329,458

$         (107,500)

$    2,482,199

$        1,103,414

Diluted net income per common share

$           66.25