What is Markel's financial — unearned premiums?

Markel (MKL) reported financial — unearned premiums of $1.82B in Q4 2025.

What does financial — unearned premiums mean?

This represents the portion of written insurance premiums that relates to the unexpired period of the policy term. Since the company has not yet provided the full coverage for which it has been paid, this amount is recorded as a liability. As time passes and the coverage is provided, this liability is recognized as earned premium revenue.

Markel MKL Financial — Unearned premiums

Other segment segments

Markel Insurance

$5.55B—

Similar metrics at other companies

CNAUnearned premiums

$7.65B+1.9%

LMNDUnearned premiums

$614.2M+29.0%

AXSInsurance — Unearned premiums

$4.33B+12.3%

JRVRUnearned premiums

$407.5M-22.6%

THGUnearned premiums

$3.4B+4.4%

KNSLUnearned premiums

$856.16M+1.2%

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

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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:UnearnedPremiums.

The official record: Markel’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Markel's financial — unearned premiums?: Markel (MKL) reported financial — unearned premiums of $1.82B in Q4 2025.
What does financial — unearned premiums mean?: This represents the portion of written insurance premiums that relates to the unexpired period of the policy term. Since the company has not yet provided the full coverage for which it has been paid, this amount is recorded as a liability. As time passes and the coverage is provided, this liability is recognized as earned premium revenue.