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Markel MKL Increase (Decrease) in Reinsurance Recoverable

Increase (Decrease) in Reinsurance Recoverable at other companies

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W.R. BerkleyWRB
-$15.25M-135%
Global Indemnity Group, LLC logo
Global Indemnity Group, LLCGBLI
$925K+147%
Skyward Specialty Insurance Group, Inc. logo
Skyward Specialty Insurance Group, Inc.SKWD
$65.5M+0.2%
James River Group Holdings, Inc. logo
James River Group Holdings, Inc.JRVR
-$2.69M-102%
Bowhead Specialty Holdings logo
Bowhead Specialty HoldingsBOW
$33.59M+12.7%
ASI
Ategrity Specialty HoldingsASIC
$4.19M+111%

Other financials

Income statement

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Revenue$4.0B-12.7%
Operating income$1.6B+40.9%
Net income$1.2B+77.9%
EPS (diluted)$92.76+86.8%

Balance sheet

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Cash & equivalents$3.4B-8.0%
Total debt$4.4B+0.1%
Total equity$19.0B+9.7%
Total assets$71.3B+6.7%

Cash flow

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Operating cash flow$428.9M-15.0%
CapEx$44.3M-12.5%
Free cash flow$384.5M-15.3%

Valuation

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Market cap$23.27B-6.0%
Enterprise value$24.21B-4.6%
P/E10.2×-0.9×
P/S1.5×0.0×

Profitability

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Operating margin19.9%-0.5pp
Net margin14.7%+1.2pp
FCF margin13.7%+1.2pp

Returns & leverage

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Return on equity12.6%-0.9pp
Debt / equity0.2×0.0×

Where this comes from

Reported directly by Markel in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInReinsuranceRecoverable.

The source filing: Markel’s 10-K, filed February 26, 2026.

Filed
Feb 26, 2026, 4:51 PM EST
Fiscal year
FY2025
Accession
0001096343-26-000020
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Net investment gains(1,076,081)(1,807,219)(1,524,054)
Net foreign exchange losses (gains)256,234(129,438)90,045
Increase in receivables(287,908)(158,546)(486,305)
Increase in reinsurance recoverables(2,929,234)(2,386,745)(767,509)
Decrease (increase) in deferred policy acquisition costs(22,073)50,102(1,602)
Increase in prepaid reinsurance premiums(102,363)(584,475)(298,049)
Increase in unpaid losses and loss adjustment expenses3,973,7763,250,6072,443,178
Increase in unearned premiums104,193448,238400,017

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Markel's increase (decrease) in reinsurance recoverable?
Markel (MKL) reported increase (decrease) in reinsurance recoverable of $732.31M in Q4 2025.
How has Markel's increase (decrease) in reinsurance recoverable changed year-over-year?
Markel's increase (decrease) in reinsurance recoverable increased by 22.7% year-over-year, from $596.69M to $732.31M.
What is the long-term trend for Markel's increase (decrease) in reinsurance recoverable?
Over 4 years (2021 to 2025), Markel's increase (decrease) in reinsurance recoverable has grown at a 22.2% compound annual growth rate (CAGR), from $1.31B to $2.93B.
What does increase (decrease) in reinsurance recoverable mean?
This tracks the change in the amount the company expects to recover from reinsurers for losses already incurred. It is a critical metric for insurance companies that transfer risk to third-party reinsurers. Changes here directly impact the company's net cash position relative to its ultimate loss obligations.

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