{"id":1185,"date":"2013-05-02T17:16:34","date_gmt":"2013-05-02T15:16:34","guid":{"rendered":"http:\/\/www.blog.asmus-puhl.com\/?p=1185"},"modified":"2013-05-02T17:16:34","modified_gmt":"2013-05-02T15:16:34","slug":"markel-is-off-to-an-excellent-start-in-2013","status":"publish","type":"post","link":"http:\/\/www.blog.asmus-puhl.com\/?p=1185","title":{"rendered":"Markel is off to an excellent start in 2013!"},"content":{"rendered":"

Markel (NYSE:MKL) is off to an excellent start in 2013 commented Chairman and CEO Alan I. Kirshner on Markel’s 2013 first quarter results. <\/span><\/span><\/p>\n

So let’s have a look at it:<\/span><\/span><\/p>\n

Diluted net income per share came in at $ 9.50 ,more than $4.18 better than analysts estimates!<\/span><\/span><\/p>\n

The combined ratio fell from 100% last year to 91%, clearly demonstrating Markel’s underwriting discipline.<\/span><\/span><\/p>\n

First-quarter revenue rose 12% to $820 million. A 6% increase came from revenue from insurance operations and a 67% increase came from Markel Ventures, underlining the ever growing importance of Markel Ventures within the group!<\/span><\/span><\/span><\/p>\n

Book value per share increased 7% to $ 431.10<\/span><\/span><\/p>\n

And after this excellent start it goes on: <\/span><\/span><\/p>\n

Markel announced the same day that they have completed the acquisition of Alterra creating an insurance company with approximately $23 billion in combined assets and $6 billion in shareholders’ equity!<\/span><\/span><\/span><\/p>\n

This will add 2 entirely new business segments to Markel together with their talented underwriting, claims, and support teams: Markel Global Insurance (large commercial accounts) and Markel Global Reinsurance.<\/span><\/span><\/span><\/p>\n

But certainly of equal importance is that chief investment officer Tom Gayner has a much bigger capital basis (stockholders equity + \u201efloat\u201c) to successfully invest than in the past!<\/span><\/span><\/p>\n

On the earnings call CFO Anne Waleski highlighted once again the rapidly growing importance of their non-insurance operations called Markel Ventures:\u00a0<\/span>In Q1 2013 revenue from Markel Ventures was $162 million as compared to $97 million in 2012, now already representing 20% of total revenue of $820 millions!<\/span><\/p>\n

Net income to shareholders from Markel Ventures \u201eexploded\u201c to $4 million in 2013 compared to $200,000 in 2012. <\/span> <\/span><\/span><\/p>\n

Markel today appears more promising than ever!<\/span><\/span><\/p>\n

Cheers!<\/span><\/span><\/p>\n

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Markel (NYSE:MKL) is off to an excellent start in 2013 commented Chairman and CEO Alan I. Kirshner on Markel’s 2013 first quarter results. So let’s have a look at it: Diluted net income per share came in at $ 9.50 ,more than $4.18 better than analysts estimates! The combined ratio fell from 100% last year […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1185"}],"collection":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1185"}],"version-history":[{"count":10,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1185\/revisions"}],"predecessor-version":[{"id":1195,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1185\/revisions\/1195"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1185"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}