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Markel reports excellent Q3 2021 results!

November 5th, 2021

Sometimes continued success can be a little boring…

Markel Corp.(NYSE:MKL) reported excellent Q3 2021 results:

“Our third quarter and year-to-date results reflect the strength and balance of our three-engine operating model of insurance, investments and Markel Ventures,” said Thomas S. Gayner and Richard R. Whitt, Co-Chief Executive Officers.

Earned premiums grew 17% for the 3rd quarter, reflecting continued growth in gross premium volume from new business and more favorable rates.

The combined ratio for the 3rd quarter 2021 included $114.4 million, or seven points of net losses and loss adjustment expenses attributed to natural catastrophes.
The ratio improved to 93% from 97% quarter over quarter.

Looking at the “second engine“, net investment gains for the nine months ended September 30, 2021 reflected a substantial increase in the fair market value of our equity portfolio driven by favorable market value movements during 2021.

And the Markel Ventures businesses continue to grow and add value. They added Buckner HeavyLift Cranes to the group in the third quarter.

The all important metric of the insurance industry book value per common share outstanding came in at $ 988.99 up from $ 885.72 in the 3rd quarter 2020.

Markel remains a stable long term investment. A significant upturn of this company eventually will be seen when interest rates continue to rise which will improve the results of the fixed income segment of their investment portfolio.

Markel is valued at 1.3 price / book value which is not too expensive.
Markel is a buy for longterm investors!

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