Markel Group Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 31, 2024 at 04:41 pm EST
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Markel Group Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 4,642.52 million compared to USD 4,210.75 million a year ago. Net income was USD 769.31 million compared to USD 691.67 million a year ago. Basic earnings per share from continuing operations was USD 56.67 compared to USD 49.35 a year ago. Diluted earnings per share from continuing operations was USD 56.48 compared to USD 49.2 a year ago.
For the full year, revenue was USD 15,803.63 million compared to USD 11,675.34 million a year ago. Net income was USD 1,996.06 million compared to net loss of USD 216.28 million a year ago. Basic earnings per share from continuing operations was USD 147.32 compared to basic loss per share from continuing operations of USD 23.72 a year ago. Diluted earnings per share from continuing operations was USD 146.98 compared to diluted loss per share from continuing operations of USD 23.72 a year ago.
Markel Group Inc. is a holding company comprised of various businesses and investments. The Company's segments include Insurance, Reinsurance, Investing and Markel Ventures. Insurance segment includes all direct business and facultative reinsurance placements written on a risk-bearing basis within the Company's underwriting operations. Its insurance operations include underwriting, program services and other fronting, and Insurance-linked securities. Reinsurance segment includes all treaty reinsurance written on a risk-bearing basis within the Company's underwriting operations. Reinsurance segment product offerings are underwritten primarily by its Global Reinsurance division, which operates from platforms in the United States, Bermuda and United Kingdom. Investing segment includes all investing activities related to the Company's insurance operations. Markel Ventures segment consists of controlling interests in a diverse portfolio of businesses that operate in various industries.