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Markel
Business Segments
Business Segments
Reinsurance Recoverables, Gross

Reinsurance Recoverables, Gross

Markel·Business Segments·2 segments·Rolls up to Reinsurance Recoverables, Gross

Breakdown

Segments

Underwriting OperationsView metric

FrontingView metric

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Data sourced from SEC filings — methodology

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OpenCapital

Segment	Q4 '23	Q4 '24	Q4 '25
Fronting	—	—	$8.80B
Underwriting Operations	$4.00B	$5.00B	$5.80B
Total	—	—	—