{"id":1947,"date":"2017-10-30T17:37:54","date_gmt":"2017-10-30T15:37:54","guid":{"rendered":"http:\/\/www.blog.asmus-puhl.com\/?p=1947"},"modified":"2017-10-30T17:37:54","modified_gmt":"2017-10-30T15:37:54","slug":"markels-q3-2017-results-marked-by-catastrophe-losses","status":"publish","type":"post","link":"http:\/\/www.blog.asmus-puhl.com\/?p=1947","title":{"rendered":"Markel&#8217;s Q3 2017 results marked by catastrophe losses"},"content":{"rendered":"<p>Markel Corp. (NYSE: MKL) <a href=\"https:\/\/www.markelcorp.com\/About-Markel\/NewsRoom\/Reuters2311357\" target=\"_blank\" rel=\"noopener\">released Q3 2017 results<\/a> last week.<\/p>\n<p>Markel reported book value per common share outstanding of $ 641.20 up 6% from $ 606.30 at December 31, 2016.<\/p>\n<p>The insurance segment incurred huge losses because of the hurricanes and the Mexico City earthquake.<\/p>\n<p>Therefore the combined ratio came in at 134% for the third quarter of 2017 compared to 98% for the third quarter of 2016.<\/p>\n<p>This was largely expected by the market as Markel <a href=\"https:\/\/finance.yahoo.com\/news\/markel-projects-503m-q3-cat-152403444.html\" target=\"_blank\" rel=\"noopener\">announced the loss estimate\u00a0<\/a>of $mil 503 already in advance of the earnings release.<\/p>\n<p>But income and performance of their investment portfolio and of Markel Ventures more than compensated for the payments to policy holders. As CIO and Co-CEO Tomas Gayner pointed out on the conference call: &#8220;&#8230; there are positive returns from two of our three engines that total well over $1 billion of pre-tax ins, compared to the $0.5 billion of pre-tax outs.&#8221;<\/p>\n<p>Markel&#8217;s strong balance sheet and conservative loss reserve policy once again demonstrated their importance in difficult times which in the insurance business can occur at any moment!<\/p>\n<p>Markel&#8217;s stock today trades at a price \/ book ratio of 1.7, rather\u00a0expensive compared to the valuation over the last years.<\/p>\n<p>For new investment perhaps wait for a lower entry point!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Markel Corp. (NYSE: MKL) released Q3 2017 results last week. Markel reported book value per common share outstanding of $ 641.20 up 6% from $ 606.30 at December 31, 2016. The insurance segment incurred huge losses because of the hurricanes and the Mexico City earthquake. Therefore the combined ratio came in at 134% for the [&hellip;]<\/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\/1947"}],"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=1947"}],"version-history":[{"count":18,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1947\/revisions"}],"predecessor-version":[{"id":1965,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1947\/revisions\/1965"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1947"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}