Markel Q3 operating income down 26%, adjusted income up 24%

Reuters10-30
Markel Q3 operating income down 26%, adjusted income up 24%

Overview

  • Markel Q3 operating rev up 7%, but operating income down 26% due to equity movements

  • Adjusted operating income rises 24% in Q3, excluding equity market movements

  • Markel Insurance combined ratio improves by over four points to 93% in Q3

Outlook

  • Markel did not provide specific guidance for future quarters or the full year

Result Drivers

  • INSURANCE SEGMENT - Markel Insurance's adjusted operating income rose 55% in Q3, driven by increased underwriting profitability and net investment income

  • COMBINED RATIO IMPROVEMENT - Markel Insurance's combined ratio improved by over four points to 93% in Q3

  • OPERATING CASH FLOW - $2.1 bln in operating cash flow year-to-date supported share repurchases

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Combined Ratio

93%

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the property & casualty insurance peer group is "buy."

  • Wall Street's median 12-month price target for Markel Group Inc is $2,053.50, about 10.5% above its October 28 closing price of $1,837.96

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nCNWF2VJWa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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