Markel MKL Eliminations — Unpaid losses and loss adjustment expenses

Other segment segments

Similar metrics at other companies

KMPRLoss and loss adjustment expense reserves

$106.6M+147%

HIGEmployee Benefits — Unpaid losses and loss adjustment expenses

$8.11B-1.1%

FCCOEliminations — Net Income Loss

-$2.12M-49.0%

HIGOther operations — Unpaid losses and loss adjustment expenses

$459M-9.5%

LMNDProperty Insurance — Unpaid losses and loss adjustment expenses

$193.5M+0.2%

EIGLoss and loss adjustment expense reserves

-$3.3M-450%

Questions, answered.

What is Markel's eliminations — unpaid losses and loss adjustment expenses?

Markel (MKL) reported eliminations — unpaid losses and loss adjustment expenses of -$191.48M in Q4 2025.

What does eliminations — unpaid losses and loss adjustment expenses mean?

This metric represents the elimination of intercompany liabilities related to unpaid losses and loss adjustment expenses during the consolidation process. It removes internal reinsurance or service arrangements between subsidiaries to prevent the inflation of total loss reserves on the consolidated balance sheet. This adjustment is critical for accurately reflecting the company's net exposure to insurance claims.