The earnings call presented a mixed picture, with significant investment income and ventures revenue growth counterbalanced by challenges in the insurance segment, including increased reserves and adverse development in discontinued lines and global reinsurance. While investment and ventures operations showed strength, the insurance segment faced notable hurdles, affecting overall performance.

Company Guidance -

Q3 2025

During the Markel Group's second quarter 2025 conference call, several key metrics and strategic decisions were highlighted. The company reported a consolidated operating income of $1.1 billion for Q2 2025, up from $410 million in the same period last year, largely due to changes in unrealized gains on the equity portfolio, which contributed $597 million in mark-to-market gains. The Markel Insurance segment, led by Simon Wilson, experienced a decline in operating income to $128 million from $177 million a year ago, attributed to adverse development in discontinued product lines and a higher expense ratio. The combined ratio for Markel Insurance increased to 96.9% from 93.8% in the prior year, affected by specific loss areas including U.S. and European risk-managed D&O products and Global Reinsurance, which are now in runoff. Despite these challenges, the company remains committed to improving expense efficiency and accountability by restructuring its insurance operations into three divisions. The Ventures segment showed growth with revenues reaching $2.7 billion year-to-date, and operating income increasing to $310 million from $281 million, benefitting from acquisitions like EPI and Valor. Furthermore, the company reported favorable reserve development of six points overall, with a consistent reserve strategy aimed at maintaining redundancy. Overall, despite some headwinds, Markel Group is focused on strategic realignments and capital management to sustain long-term growth.

Strong Investment Income

Overall recurring investment income reached $467 million for the first half of 2025, compared to $441 million in the same period last year.

Ventures Revenue Growth

Revenues from Ventures operations grew to $2.7 billion year-to-date compared to $2.6 billion, with operating income increasing to $310 million versus $281 million.

Favorable Reserve Development

Reported 6 points of overall favorable reserve development from Markel Insurance in the first half of the year, continuing a 20-year trend of favorable reserve development.

Equity Portfolio Gains

Equity portfolio showed a positive mark-to-market change of $431 million for the first half of 2025, in contrast to the prior year.

Markel (MKL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

MKL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	22.43 / -	20.61	―	―	―
Jul 30, 2025	2025 (Q2)	24.97 / 25.47	26.412	-3.57% (-0.94)	―
Apr 30, 2025	2025 (Q1)	16.77 / 23.13	20.65	12.00% (+2.48)	―
Feb 05, 2025	2024 (Q4)	19.00 / 22.86	5.918	286.33% (+16.95)	―
Oct 30, 2024	2024 (Q3)	21.43 / 20.61	16.585	24.27% (+4.02)	―
Jul 31, 2024	2024 (Q2)	22.30 / 26.41	22.86	15.54% (+3.55)	―
May 01, 2024	2024 (Q1)	17.93 / 20.65	16.35	26.30% (+4.30)	―
Jan 31, 2024	2023 (Q4)	20.71 / 5.92	48.479	-87.79% (-42.56)	―
Nov 01, 2023	2023 (Q3)	19.61 / 16.59	3.5	373.86% (+13.09)	―
Aug 02, 2023	2023 (Q2)	17.57 / 22.86	15.41	48.35% (+7.45)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MKL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$2006.57	$2008.29	+0.09%
Apr 30, 2025	$1818.60	$1824.53	+0.33%
Feb 05, 2025	$1860.14	$2059.83	+10.74%
Oct 30, 2024	$1566.18	$1542.01	-1.54%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Markel Corporation (MKL) report earnings?

Markel Corporation (MKL) is schdueled to report earning on Nov 04, 2025, After Close (Confirmed).

What is Markel Corporation (MKL) earnings time?

Markel Corporation (MKL) earnings time is at Nov 04, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MKL EPS forecast?

MKL EPS forecast for the fiscal quarter 2025 (Q3) is 22.43.

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