Markel Group 2023 net income $1.96B vs 2022 loss; insurance combined ratio 98% misses targets

MARKEL GROUP INC.

Net income to common shareholders $1.96B (2022 loss $252M); comprehensive income $2.285B.
Insurance combined ratio 98% (target <100%); underwriting profit $133M vs $627M; challenges from collateralized IP and social inflation.
Markel Ventures EBITDA $628M on $4.985B revenue (+24% YoY); no new platform acquisitions in 2023.
Net investment income $735M, up 64% YoY; invested assets $30.85B, $2,349.53 per share.
Book value per share $1,095.95 (17% increase); closing stock price $1,419.90.

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