What is Markel's financial — other underwriting expense?

Markel (MKL) reported financial — other underwriting expense of $20.54M in Q1 2026.

How has Markel's financial — other underwriting expense changed year-over-year?

Markel's financial — other underwriting expense increased by 13.7% year-over-year, from $18.07M to $20.54M.

What does financial — other underwriting expense mean?

Operating expenses related to the underwriting process, excluding acquisition costs and claims expenses. This includes administrative costs, overhead, and other operational costs necessary to maintain the insurance business.

Markel MKL Financial — Other Underwriting Expense

Other segment segments

Markel Insurance

$306.36M—

Consumer and Other

$0—

Corporate and eliminations

$0—

Industrial

$0—

Similar metrics at other companies

SIGIOther underwriting expenses

$134.68M+7.9%

GLREOther underwriting expenses

$7.81M+22.8%

UFCSOther underwriting expenses

$37.57M-5.1%

SLDEOther underwriting expenses

$44.13M+54.4%

PRA

PRAOther underwriting expenses

$40.94M-19.4%

KIN

KINSOther underwriting expenses

$8.36M+12.9%

Other financials

Income statement

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Revenue$3.6B+0.1%

Operating income-$273.3M-197%

Net income-$212.3M-274%

EPS (diluted)-$18.90-256%

Balance sheet

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Cash & equivalents$3.7B-12.2%

Total debt$4.4B-0.2%

Total equity$18.1B+5.7%

Total assets$68.6B+6.2%

Cash flow

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Operating cash flow$15.9M-95.8%

CapEx$47.3M+16.1%

Free cash flow-$31.4M-109%

Valuation

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Market cap$24.44B-2.1%

Enterprise value$25.14B-1.8%

P/E13.8×+2.6×

P/S1.5×-0.1×

Profitability

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Operating margin16.4%-1.7pp

Net margin11%-1.6pp

FCF margin13.6%-0.8pp

Returns & leverage

See full

Return on equity10.1%-1.2pp

Debt / equity0.2×0.0×

Where this comes from

Reported directly by Markel in its filing.

Tagged under the XBRL concept us-gaap:OtherUnderwritingExpense.

The official record: Markel’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Markel's financial — other underwriting expense?: Markel (MKL) reported financial — other underwriting expense of $20.54M in Q1 2026.
How has Markel's financial — other underwriting expense changed year-over-year?: Markel's financial — other underwriting expense increased by 13.7% year-over-year, from $18.07M to $20.54M.
What does financial — other underwriting expense mean?: Operating expenses related to the underwriting process, excluding acquisition costs and claims expenses. This includes administrative costs, overhead, and other operational costs necessary to maintain the insurance business.