Markel reports Q1 EPS $12.08 vs. $75.43 last year

Reports Q1 revenue $3.4B vs. $4.47B last year. “The first quarter was a productive one at Markel (MKL) Group. Our cornerstone insurance business moved along its path to better. We experienced a lower than initially anticipated impact from the California wildfires. Excluding that impact, our combined ratio returned to the low nineties. We also elevated Simon Wilson as the new leader of our Markel Insurance business. Simon is a proven leader and winner – and he has a clear vision for how to profitably grow that business. Finally, while the strong tailwinds of the past few years have eased, results within our Ventures businesses continued to hold up well,” said Tom Gayner, Chief Executive Officer of Markel Group.