Home > General Market Trends / Allgemeine Marktentwicklungen > Markel’s Q2 2020 results impacted by the pandemic

Markel’s Q2 2020 results impacted by the pandemic

July 31st, 2020

Markel Corp. Q2 2020

Markel Corp. (NYSE:MKL) the speciality insurer released Q2 2020 results.
It comes as little surprise that the results were severely impacted by the pandemic.

The positive news are that gross written premiums were 3.7 billion for the first half of 2020, compared to 3.3 billion in 2019, an increase of 12%.

The underwriting results for the six months ended June 30, 2020 included $325 million of underwriting loss attributed to the COVID-19 pandemic, which added 12 points to the consolidated combined ratio which jumped to 103%.

But as we know the “Markel style“ the ample reserves should now be sufficient to cover all future losses caused by the pandemic.

Luckily the investment results benefitted from a meaningful recovery in public equities in the second quarter.

Markel’s share price recovered these days after after a decline in the first half of 2020 and ended yesterday at $ 1’045,37
For long term investors Markel is a buy!

Comments are closed.