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Markel finishes 2017 in excellent shape!

February 10th, 2018

Markel Corp. (NYSE:MKL) released FY and Q4 2017 earnings demonstrating that the speciality insurer finished FY 2017 in excellent shape!

Book value per share the most important ratio in the insurance business rose 12.7% from $606.30 at year-end 2016 to $683.55 as of Dec 31, 2017.

The combined ratio in the 4th quarter was 95% improving rapidly from the 134% in Q3 2017 due to the losses from the hurricanes.

The equity portfolio of Markel in 2017 contributed to the success in a remarkable way:

The portfolio climbed 25.5% outperforming the S&P500 not only this year but already for 3 decades.

Good news also came from Markel Ventures :

Operating revenue climbed 29.5% to $400 million in 2017, already including Markel’s majority stake acquisition in Costa Farms in August and net income jumped to $65.2 million from $6.7 million in the 4th quarter 2016.

In the 4th quarter Markel also completed the acquisition of property and casualty insurance services company State National, which adds a premier fronting platform and collateral protection coverages to their insurance operations.

 

At yesterday’s closing price of $1084.97 Markel’s stock is valued at a price/book ratio of 1.6

Not cheap but certainly a buy at any dips in this volatile market.

And do not forget that insurances and banks in general will once again be able to earn interest income when rates are continuing to climb.

 

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