Markel Corp. has recently reported second-quarter losses of $17.9 million, a dramatic decrease compared to a net income of $11.9 million in the same quarter 1999. Underwriting losses at recently acquired Terra Nova Holdings are to blame for the losses.
Markel’s domestic business has continued to perform well, but the international unit has pulled it down. Markel North America’s combined ratio during the second quarter was 99 percent – a bit higher than in recent years, but still profitable. However, Markel International’s combined ratio was 118 percent. And for several lines of international business Markel plans to discontinue, the combined ratio was 132 percent.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Stepbrother Suspect in Cruise Ship Death Says He Doesn’t Remember Anything 
Cloudy Future for Bourbon Has Jim Beam Closing Distillery for a Year 
Freight Broker Says $400K in Lobster Meat Stolen in Fictitious Pickup 
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
