Markel Corporation has revealed its monetary outcomes for the 12 months ended December 31, 2022 – a interval throughout which the corporate posted a complete loss to shareholders price $1.3 billion.
Below are the full-year numbers reported by the insurance coverage group.
|
Metric |
2022 |
2021 |
|---|---|---|
|
Net earnings/(loss) to shareholders |
$(1.3 billion) |
$2.1 billion |
|
Underwriting revenue |
$626.6 million |
$628.1 million |
|
Net funding earnings |
$446.8 million |
$367.4 million |
|
Markel Ventures web earnings |
$192.6 million |
$174.4 million |
Lifting the lid on the figures, Markel mentioned: “Comprehensive loss to shareholders in 2022 resulted from web funding losses and unrealized losses on our mounted maturity portfolio, which greater than offset working earnings from our insurance coverage and Markel Ventures operations.
“We typically hold our fixed maturity investments to maturity and generally would expect these losses to reverse.”
Net funding losses (as an alternative of beneficial properties) within the 12-month span amounted to $1.6 billion as a consequence of unfavorable market worth actions leading to a lower within the truthful worth of Markel’s fairness portfolio.
The firm went on to spotlight: “We imagine our monetary efficiency is most meaningfully measured over longer durations of time, which tends to mitigate the consequences of short-term volatility and in addition aligns with the longer-term perspective we apply to working our companies.
“We generally use five-year periods to measure our performance. Over the five-year period ended December 31, 2022, the compound annual growth in book value per common share was 6%. Over the five-year period ended December 31, 2022, our share price increased at a compound annual rate of 3%.”