Markel 2024 operating income up 27%; board-led review of specialty insurance performance

MARKEL GROUP INC.

Total operating income $3,713M in 2024 vs $2,929M in 2023 (+27%).
Combined ratio improved to 95% from 98%; 5.4 points favorable reserve development.
Markel Ventures operating income flat at $520M; net investment income up 25% to $920M.
Board-led review of specialty insurance performance; exited several product lines including primary casualty retail and IP collateral protection.
Markel International delivered sub-80% combined ratio with high-single-digit net earned premium growth.

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