Highest-materiality recent filing
Markel shareholders approve lowering voting threshold to majority for key corporate actions
Amendment reduces default voting requirement from supermajority to majority of votes cast for amendments, dissolution, mergers, share exchanges, asset dispositions, re-domestication, and conversion.
Markel Group presents at 2026 Annual Meeting; no substantive new details in filing
Presentation made on May 20, 2026 at 2026 Annual Meeting of Shareholders.
Mike Heaton, EVP & COO, to depart Markel Group effective March 23, 2026; severance entitlements triggered.
Markel Group reports 12% intrinsic value growth in 2025; insurance reorganization underway
Operating revenues $15.5B (+4.7% YoY); adjusted operating income $2.3B (+10.4% YoY).
Markel Group reports 2025 operating income $3.2B; adjusted op income $2.3B, +10% YoY
Operating revenues $15.5B (+5% YoY); comprehensive income to shareholders $2.6B.
Markel Q3 adjusted operating income up 24% to $621M; combined ratio improves to 92.7%
Operating revenues $3.93B (+7% YoY); adjusted operating income $621M (+24% YoY).
Markel Group removes preferred share provisions from articles after June 1 redemption
Series A 6.000% Fixed-Rate Reset Non-Cumulative Preferred Shares redeemed in full as of June 1, 2025.
Markel Group appoints Jonathan E. Michael to Audit Committee
Jonathan E. Michael appointed to Audit Committee on May 20, 2025, effective upon his election as director at the 2025 Annual Meeting on May 21, 2025.
All 11 director nominees elected; Thomas S. Gayner received 9.2M votes for, 222K against.
Markel Group presents at Omaha Brunch; no financial details disclosed
Presentation discussed recent changes within core insurance business.
Markel Insurance restructures US/Bermuda ops; names new division presidents and C-suite officers
US and Bermuda operations split into two divisions: US Wholesale & Specialty (Wendy Houser, President) and Programs & Solutions (Alex Martin, President).
Markel Group: Vice Chairman Tony Markel to retire in May 2025; Jon Michael appointed to board
Tony Markel, Vice Chairman, will retire as director at May 21, 2025 annual meeting and become Chairman Emeritus.
Markel Group appoints Simon Wilson as CEO of Markel Insurance; Jeremy Noble departs
Jeremy Noble, President, Insurance, mutually agreed to depart effective March 14, 2025; severance triggered.
Markel 2024 operating income up 27%; board-led review of specialty insurance performance
Total operating income $3,713M in 2024 vs $2,929M in 2023 (+27%).
Markel Group CFO Brian Costanzo's equity award target raised from 125% to 175% of base salary
Compensation Committee approved increase in equity award target to 175% of $500,000 base salary for CFO Brian Costanzo.
Board-led review will prioritize specialty insurance performance and address underperforming areas.
Markel Group 2024 EPS $199.32; operating income +27%; combined ratio 95.2%
Diluted EPS $199.32 vs $146.98; operating revenues $16.6B (+5%); operating income $3.71B (+27%).
Markel Group launches business review; to focus on share buybacks during review
Board-led review with external consultants, primarily targeting specialty insurance performance.
Markel Group approves new $2B share repurchase program, replacing prior $750M plan
Board authorized up to $2B of common stock repurchases, effective immediately.
Markel shareholders approve 2024 equity plan, reject climate proposal
Shareholders elected all 11 director nominees with >84% support for each.
Markel Group issues $600M of 6.000% Senior Notes due 2054
Issued $600M aggregate principal of 6.000% Senior Notes due 2054.
Markel appoints Mike Heaton as COO; revamps executive compensation metrics
Michael R. Heaton appointed EVP and COO, effective Feb 21, 2024, overseeing day-to-day operations.
Markel Group 2023 net income $1.96B vs 2022 loss; insurance combined ratio 98% misses targets
Net income to common shareholders $1.96B (2022 loss $252M); comprehensive income $2.285B.
Markel Group 2023 net income $146.98/diluted share; underwriting profit down 79% to $132.7M
Diluted EPS $146.98 vs ($23.72); comprehensive income $2.29B vs ($1.21B) loss in 2022.
Markel Group appoints Brian Costanzo as CFO; Meade Grandis named CAO effective Dec 18, 2023
CFO Teresa Gendron departing Dec 31, 2023; mutual agreement, no disagreement with financial controls or policies.
Markel Group Board approves new $750M share repurchase program, replacing prior plan
New program authorizes up to $750M in common stock repurchases, effective immediately.
Robert Cox, President and COO Insurance Operations, will leave Markel effective December 31, 2023 after five years.
MBL appointed to statutory unsecured creditors committee in Vesttoo's chapter 11 bankruptcy in Delaware.
Markel board adopts annual say-on-pay votes after shareholder majority; next frequency vote by 2029
Shareholders cast majority vote for annual say-on-pay frequency at May 17, 2023 annual meeting.
Markel Group enters into amended $300M revolving credit facility expiring 2028
Revolving credit facility provides up to $300M for acquisitions, investments, stock repurchases, and working capital.
Markel Group amends executive employment agreements, extends terms to Dec 2026
Amended agreements for CEO Thomas Gayner, CFO Teresa Gendron, and four other executives.
Markel grants $4.55M in RSUs to top executives, shareholders approve compensation at AGM
CEO Thomas Gayner receives $1.45M in RSUs vesting May 16, 2026; aggregate $4.55M granted to six NEOs.
Markel Corporation to change name to Markel Group Inc. effective May 26, 2023
Name change from Markel Corporation to Markel Group Inc., effective May 26, 2023.
Markel appoints Teri Gendron as CFO effective March 20, 2023
Gendron most recently CFO of Jefferies Financial Group (2014-2023); starts at Markel on March 20, 2023.
Markel reports $23.57 diluted loss per share for 2022; comprehensive loss of $1.3B
Earned premiums grew 17% to $7.59B; combined ratio 92% (91.7% on a consolidated basis).
Markel: Co-CEO Whitt to retire Dec 31, 2022; Gayner becomes sole CEO Jan 1, 2023
Richard R. Whitt III retires as Co-CEO and from Board effective Dec 31, 2022.
Markel Co-CEO Whitt to retire by March 31, 2023; consulting role through 2025
Richard R. Whitt III, Co-CEO, will retire by March 31, 2023, from all officer/director roles.
Markel discloses Andrew Crowley's employment terms: $402,500 salary, bonus, equity targets
Base salary of $402,500, subject to annual review.
Markel shareholders elect all 12 directors, approve say-on-pay, ratify KPMG at 2022 annual meeting
All 12 director nominees elected; Thomas S. Gayner received lowest votes-for at 9,800,308.
Markel Co-CEO Richard Whitt retiring by March 31, 2023; Tom Gayner to become sole CEO
Richard R. Whitt III, Co-CEO since 2016, to retire by March 31, 2023, after 31 years at Markel.
Markel receives court approval for CATCo buy-out; to distribute capital to fund investors
Bermuda and US bankruptcy courts approve buy-out of Markel CATCo Reinsurance Fund Ltd. and CATCo Reinsurance Opportunities Fund.
Markel raises equity targets for top execs; authorizes $750M share repurchase
Compensation Committee increased target equity awards for Co-CEOs Gayner and Whitt from 300% to 400% of base salary for 2022.
Markel reports record 2021 results: diluted EPS $176.51, combined ratio 90%
Diluted net income per share $176.51 vs $55.63 in 2020; comprehensive income $2.08B up 74%.
Markel EVP & President of Insurance Operations to retire April 1, 2022
Bradley J. Kiscaden informed Markel on Nov 15, 2021 of his plan to retire effective April 1, 2022.
Markel appoints Morgan Housel to board, authorizes $500M stock buyback
Appointed Morgan Housel as director effective Nov 16, 2021; he is a partner at The Collaborative Fund and author.
Markel winds down Lodgepine ILS fund manager; fund had $230M in limits, $98.9M capital
Lodgepine launched in 2019; wrote $230M of property retrocessional limits in 2021.
Markel enters amended employment agreements; CFO Noble's severance extended to 24 months
Amended agreements effective Oct 1, 2021 for Co-CEOs Gayner/Whitt, President Cox, CAO Kiscaden, CFO Noble, and CLO Grinnan.
SEC and DOJ close investigations into Markel CATCo without enforcement action
SEC notified Markel on Sept 27, 2021 that it concluded investigation and will not recommend enforcement.
Markel designates Brian Costanzo as principal accounting officer; Noble remains CFO
Brian Costanzo appointed principal accounting officer effective Aug 18, 2021; previously CAO/Controller since June 28, 2021.
Anthony F. Markel informed the Company on March 14, 2025 that he will not stand for re-election as a director at the Company's 2025 Annual Meeting of Shareholders scheduled to be held May 21, 2025. Mr. Markel will retire as a director of the Company at the end of the meeting.
On March 17, 2025, Markel Group also announced the appointment of Jonathan E. Michael to the Company's Board of Directors (the Board), effective March 15, 2025.
Effective March 17, 2025, Simon Wilson, currently President, Markel International, has been appointed Chief Executive Officer over the Company’s global specialty insurance and reinsurance underwriting operations, which will collectively be referred to as Markel Insurance.
On March 14, 2025, Jeremy A. Noble, President, Insurance, and the Company mutually agreed on a departure date of April 13, 2025.
On February 21, 2024, the Board of Directors (the Board) of Markel Group Inc. (the Company) appointed Michael R. Heaton as the Company’s Executive Vice President and Chief Operating Officer.
Meade P. Grandis, Managing Director, Accounting Policy and Reporting, has been appointed by the Board to serve as Chief Accounting Officer, effective December 18, 2023.
Brian J. Costanzo, Senior Vice President, Finance, Chief Accounting Officer and Controller, has been appointed by the Company’s Board of Directors (the Board) to serve as Chief Financial Officer, effective December 18, 2023;
On December 14, 2023, Teresa S. Gendron, Chief Financial Officer, and the Company mutually agreed on a departure date of December 31, 2023.
On November 30, 2023, Markel, the insurance operations within Markel Group Inc. (the Company), announced that the Company and Robert Cox, the President and Chief Operating Officer, Insurance Operations of Markel, mutually agreed on a departure date of December 31, 2023.
Mr. Whitt, who retired as both the Company’s Co-Chief Executive Officer and a member of the Board on December 31, 2022, remains an employee of the Company.
Effective January 1, 2023, Mr. Cox became the President and Chief Operating Officer, Global Insurance, for the Company's insurance operations, reporting to Mr. Noble, and consequently ceased to be an executive officer of the Company.
On February 7, 2023, Markel Corporation (the Company) announced that Teresa S. Gendron will become the Company’s new Chief Financial Officer effective March 20, 2023.
Max materiality 0.90 · Median 0.60 · Most common event other_material