Markel (MKL) Incurs Loss In Q4, Revenues Beat Estimates
Zacks Investment Research | Feb 05, 2019 10:34PM ET
Markel Corporation (NYSE:MKL) incurred fourth-quarter 2018 loss of $53.88 per share against the year-ago quarter’s income of $30.39.
Though the company witnessed higher revenues and improved premiums at the Insurance and Reinsurance segments, an increase in expenses was a bane.
Operational Update
Total operating revenues of $1.9 billion exceeded the Zacks Consensus Estimate by 0.3%. Also, the top line rose 13.4% year over year on higher premiums, investment income, product and services plus other revenues.
Total operating expenses of Markel surged 33.1% year over year to $1.9 billion.
Markel’s combined ratio deteriorated 1300 basis points (bps) year over year to 108% in the reported quarter.
Full-Year Highlights
For 2018, Markel suffered loss of $9.55 per share against the year-ago quarter’s income of $25.81.
Moreover, total operating revenues of $7.3 billion trumped the consensus mark by 1.3% and also improved nearly 20% year over year.
Markel Corporation Price, Consensus and EPS Surprise
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