What is Markel's markel insurance — unearned premiums?

Markel (MKL) reported markel insurance — unearned premiums of $5.55B in Q4 2025.

What does markel insurance — unearned premiums mean?

This represents the portion of written premiums that relates to the unexpired period of insurance policies. It is recorded as a liability because the insurer has not yet provided the coverage for that portion of the policy term.

Markel MKL Markel Insurance — Unearned premiums

Other segment segments

Financial

$1.82B—

Similar metrics at other companies

AXSInsurance — Unearned premiums

$4.33B+12.3%

EIGInsurance Operations — Unearned premiums

$391.9M-2.6%

CNAUnearned premiums

$7.65B+1.9%

BOWUnearned premiums

$556.42M+22.9%

HIPOUnearned premiums

$615.3M+38.0%

ESN

ESNTUnearned premiums

$134.58M+1,876%

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 markel insurance — unearned premiums?: Markel (MKL) reported markel insurance — unearned premiums of $5.55B in Q4 2025.
What does markel insurance — unearned premiums mean?: This represents the portion of written premiums that relates to the unexpired period of insurance policies. It is recorded as a liability because the insurer has not yet provided the coverage for that portion of the policy term.