Markel released good Q3 2018 results!
Markel Corp. our speciality insurer reported good Q3 2018 results!
Book value per share was $704.70 ,3% higher than the $683.55 reported december 31, 2017
The combined ratio was 99% for the third quarter of 2018 compared to 134% for the third quarter of 2017 and included $75.7 million, or six points of underwriting losses from Hurricane Florence and Typhoon Jebi.
Comprehensive income made a big jump from a comprehensive loss of $19.9 million in Q3 2017 to $315.1 million this quarter.
This was largely due to the strong performance of the equity portfolio while the fixed income portfolio was unfavorably impacted by rising interest rates.
Markel Ventures also released good numbers: Operating income more than tripled, to $23.6 million and in october they acquired 90% of fashion-handbag specialist Brahmin Leather Works for $173.3 million.
Another acquisition has already been announced in August: Nephila Holdings Limited, a Bermuda-based investment manager with $12 billion in assets under management, for $975 million in cash
These were once again solid numbers and Markel continues to grow by acquisitions.
The book value/share ratio stands at 1.5 which is not too expensive for a high quality company like Markel.
This stock remains a „buy“!