Markel almost doubles net income in Q2 2017
Markel almost doubled its net income in the second quarter of 2017, and enjoyed steady growth along its US and international business segments, partially offset by a dip in its reinsurance.
Markel's gross premium volume for its US insurance business in Q2 was $753.3 million, up from $689.5 million year-on-year.
The gross premium volume for the international insurance business was $355.9 million, up from $318.6 million year-on-year.
Markel's reinsurance segment's gross premium volume amounted to $247.9 million, down from $269.6 million year-on-year.
The company's net income attributable to shareholders was $149.7 million, up from $78.8 million year-on-year.
Markel's consolidated combined ratio was 89 percent, down 4 percentage points from the second quarter of 2016.
Alan Kirshner, executive chairman, commented: "The second quarter of 2017 reflects outstanding results from our underwriting operations, with improved performance across all three of our underwriting segments. We completed our acquisition of SureTec during the quarter and are excited about the opportunities this business provides. Our investing results were also strong and we are pleased with the contributions from our Markel Ventures operations during the quarter."
Get the days re/insurance news - Sign up to our free daily email newsletters
Today’s stories
Berkshire Hathaway taps AIG and Chubb execs for leadership roles
XL CEO ‘pleased’ by 588% rise in Q2 income
Markel acquires State National in $919m deal
Low nat cat losses drive SCOR profits in Q2
Ageas sells Italian non-life shares for €75m gain
Lords launches inquiry into EU market access after Brexit
Australian insurer Honan reshuffles key leadership in new strategy
Don't miss our monthly insurtech email newsletter - sign up today
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze