Net premiums earned
Markel Net premiums earned decreased by 10.1% to $2.05B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 1.9%, from $2.09B to $2.05B. Over 4 years (FY 2021 to FY 2025), Net premiums earned shows an upward trend with a 7.6% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase indicates growth in the insurance book of business, while a decrease may signal shrinking market share or increased reinsurance activity.
Detailed definition
This represents the portion of insurance premiums that the company has recognized as revenue during the reporting period...
Peer comparison
Standard across all insurance carriers; peers typically report this as the primary top-line revenue driver.
net_premiums_earnedHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.57B | $1.63B | $1.81B | $1.76B | $1.83B | $1.96B | $2.04B | $1.97B | $2.03B | $2.12B | $2.17B | $2.13B | $2.08B | $2.11B | $2.12B | $2.09B | $2.14B | $2.21B | $2.28B | $2.05B |
| QoQ Change | — | +4.0% | +10.8% | -2.6% | +4.2% | +6.7% | +4.2% | -3.5% | +3.2% | +4.5% | +2.5% | -2.2% | -2.4% | +1.6% | +0.4% | -1.3% | +2.5% | +3.0% | +3.3% | -10.1% |
| YoY Change | — | — | — | — | +16.9% | +20.0% | +12.8% | +11.8% | +10.8% | +8.4% | +6.7% | +8.1% | +2.3% | -0.5% | -2.6% | -1.8% | +3.1% | +4.5% | +7.6% | -1.9% |
Product Breakdown — General liability
| Segment | FY'21 | FY'22 | FY'23 | FY'24 | FY'25 |
|---|---|---|---|---|---|
| General liability | $1.88B | $2.31B | $2.50B | $2.45B | $2.46B |
| Professional liability | — | — | $2.19B | $2.03B | $1.96B |
| Marine and energy | $495.90M | $585.89M | $738.51M | $814.79M | $853.39M |
| Personal Lines | $451.10M | $489.65M | $538.82M | $625.54M | $751.77M |
| Property | $492.40M | $435.56M | $544.52M | $615.29M | $654.48M |
| Programs | $222.41M | $384.95M | $509.87M | $573.52M | $653.90M |
| Workers' compensation | — | — | $453.77M | $448.03M | $464.77M |
| Credit and surety | $161.16M | $193.70M | $301.66M | $326.26M | $346.73M |
| Other products | $330.00M | $392.76M | $240.19M | $254.26M | $258.47M |
| Specialty | $276.94M | $275.03M | $245.13M | — | — |
| Total | $6.50B | $7.59B | $8.30B | $8.43B | $8.72B |
All segment values are derived from annual filings.
Specialty was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Product Breakdown — Underwriting
| Segment | Q2 '21 | Q3 '21 |
|---|---|---|
| Underwriting | $1.57B | $1.63B |
| Total | $1.57B | $1.63B |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Markel Insurance | — | — | — | — | $2.06B | $2.13B | $2.19B | $1.97B |
| Financial | — | — | — | — | — | $78.13M | $85.32M | $79.55M |
| Consumer and Other | — | — | — | — | — | $0.00 | $0.00 | $0.00 |
| Corporate | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — |
| Corporate and eliminations | — | — | — | — | — | $0.00 | $0.00 | $0.00 |
| Industrial | — | — | — | — | — | $0.00 | $0.00 | $0.00 |
| Insurance | $1.81B | $1.86B | $1.86B | $1.82B | — | — | — | — |
| Investing | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — |
| Markel Ventures | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — |
| Other Insurance Operations | $72.93M | -$506.00K | -$2.22M | -$26.00K | $78.07M | — | — | — |
| Reinsurance | $264.63M | $250.68M | $259.55M | $271.55M | — | — | — | — |
| Total | $2.08B | $2.11B | $2.12B | $2.09B | $2.14B | $2.21B | $2.28B | $2.05B |
Corporate, Insurance, Investing, Markel Ventures, Other Insurance Operations, Reinsurance were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Net premiums earned at Other Companies
Frequently Asked Questions
- What is Markel's net premiums earned?
- Markel (MKL) reported net premiums earned of $2.05B in Q1 2026.
- How has Markel's net premiums earned changed year-over-year?
- Markel's net premiums earned decreased by 1.9% year-over-year, from $2.09B to $2.05B.
- What is the long-term trend for Markel's net premiums earned?
- Over 4 years (2021 to 2025), Markel's net premiums earned has grown at a 7.6% compound annual growth rate (CAGR), from $6.50B to $8.72B.
- What does net premiums earned mean?
- The revenue recognized from insurance premiums after accounting for reinsurance.