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Markel released very good Q2 2021 results!

August 4th, 2021

Markel Corp. (NYSE:MKL) today released Q2 and HY1 results „that reflect outstanding performance across all the three engines“ as Thomas S. Gayner and Richard R. Whitt, Co-Chief Executive Officers put it.

So how was the performance of those „three engines“?

Markel continued to achieve double-digit premium growth in their underwriting operations through both organic growth in new business and more favorable rates, and they delivered an 87% combined ratio for the quarter.

Markel Ventures revenues surpassed $1 billion for the quarter,
This private equity arm of Markel is steadily growing.

Within the investment portfolio, significant gains did result from the equity portfolio.

Book value per common share outstanding grew 10% from $885,72 to $974,45, very solid indeed!

Markel’s stock at today’s price of $1’220 means that it trades at a price/book ratio of 1.3
That’s not very expensive but it reflects its limited earnings power in this low interest environment.
Markel is a long term buy and will become more interesting when interest rates will finally rise again.

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