Markel Corporation has revealed its monetary outcomes for the yr 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 revenue/(loss) to shareholders |
$(1.3 billion) |
$2.1 billion |
|
Underwriting revenue |
$626.6 million |
$628.1 million |
|
Net funding revenue |
$446.8 million |
$367.4 million |
|
Markel Ventures internet revenue |
$192.6 million |
$174.4 million |
Lifting the lid on the figures, Markel mentioned: “Comprehensive loss to shareholders in 2022 resulted from internet funding losses and unrealized losses on our fastened maturity portfolio, which greater than offset working revenue from our insurance coverage and Markel Ventures operations.
“We sometimes maintain our fastened maturity investments to maturity and usually would anticipate these losses to reverse.”
Net funding losses (as an alternative of positive factors) within the 12-month span amounted to $1.6 billion attributable to 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 typically use five-year durations to measure our efficiency. Over the five-year interval ended December 31, 2022, the compound annual progress in ebook worth per frequent share was 6%. Over the five-year interval ended December 31, 2022, our share value elevated at a compound annual charge of three%.”
