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Markel MKL Program services and other — Ceded Premiums Earned

Discontinued — last reported Q3 '20

Similar metrics at other companies

AFGProperty and casualty insurance — Ceded Premiums Earned

$730.75M+5.5%

CINFConsolidated Property And Casualty Insurance — Ceded Premiums Earned

$96M-44.5%

EGProperty And Liability Insurance — Ceded Premiums Earned

$378.25M+1.0%

ORISpecialty Insurance Segment — Ceded Premiums Earned

$769.8M+16.1%

EGTotal property and liability insurance premiums earned — Ceded Premiums Earned

$607.25M+8.1%

UHAL.BInvestments — Ceded Premiums Earned

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Other financials

Income statement

Revenue$3.6B+0.1%

Operating income-$273.3M-197%

Net income-$212.3M-274%

EPS (diluted)-$18.90-256%

Balance sheet

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

Operating cash flow$15.9M-95.8%

CapEx$47.3M+16.1%

Free cash flow-$31.4M-109%

Valuation

Market cap$23.11B+0.8%

Enterprise value$23.82B+2.9%

P/E13×+0.6×

P/S1.4×-0.1×

Profitability

Operating margin16.4%-1.7pp

Net margin11%-1.6pp

FCF margin13.6%-0.8pp

Returns & leverage

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:CededPremiumsEarned.

The official record: Markel’s 10-Q, filed October 27, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does program services and other — ceded premiums earned mean?: The cost of reinsurance coverage that has been recognized as an expense during the period.
How do you interpret program services and other — ceded premiums earned?: Changes reflect the timing of reinsurance cost recognition and the overall cost of risk transfer.
How does program services and other — ceded premiums earned compare across companies?: Standard industry metric; peers report this as 'ceded premiums earned' or 'reinsurance expense'.