Markel Group Inc. - MKL STOCK NEWS

Markel Group (NYSE: MKL) reported its Q3 2024 financial results, showing strong performance across its three business engines. Operating revenue grew 37% in Q3 and 15% YTD, primarily driven by the Investments engine. The company achieved a combined ratio of 96.4% in Q3 2024, improving from 99.1% in Q3 2023. Net investment income increased 22% in Q3 and 29% YTD, benefiting from higher interest rates. Hurricane Helene impacted Q3 results with $62 million in losses. Markel Ventures showed revenue growth but experienced decreased operating margins. The company's stock price showed a 7% compound annual growth rate from December 2019 to September 2024.

Markel Group (NYSE: MKL) has scheduled a conference call for Thursday, October 31, 2024, at 9:30 am (Eastern Time) to discuss quarterly results and business developments. Investors and interested parties can access the call through a live webcast at ir.mklgroup.com or by phone using (800) 715-9871 (U.S.) or +1 (646) 307-1963 (international) with Conference ID: 4614568. A replay will be available on the company's website approximately one hour after the call concludes. The webcast and related content are exclusive copyrighted property of Markel Group and require express written consent for any rebroadcast or publication.

Markel (NYSE: MKL) has appointed Dena Furmanek as Senior Underwriter – Fine Art, North America, effective immediately. Furmanek will support the expansion of Markel's North American Fine Art portfolio within the International Marine & Energy division. Reporting to Kyle McGrath, Head of US Fine Art, she will manage new and renewal business while developing client and broker relationships. Furmanek brings over a decade of experience in fine art, jewelry, and collections insurance, previously serving as Vice President – Fine Art & Collections at MarketScout, where she oversaw all fine art business operations.

Markel, part of Markel Group Inc. (NYSE: MKL), has appointed Jim Hinchley as Chief Retail Officer for its Specialty division. In this role, Hinchley will lead Markel's retail strategy, focusing on profitable growth in existing business and exploring new growth areas within the retail channel.

Hinchley brings over 25 years of insurance industry experience, with expertise in underwriting, distribution, claims, and operations. His most recent position was President of Insurance at Fairmatic, where he led insurance functions for the commercial auto Insurtech MGA. He has also held leadership roles at Farmers and Liberty Mutual.

Reporting to Alex Martin, President of Markel Specialty, Hinchley will be based in Markel's Boston office. Martin expressed excitement about Hinchley joining Markel, citing his broad experience and deep expertise as assets in addressing the needs of customers and partners in the retail space.

VOOM Insurance, a leading InsurTech company, has launched electric bike insurance, underwritten by Markel Group. This new offering expands VOOM's innovative motorcycle insurance to cover a wide range of bicycles, including e-bikes, mountain bikes, and racing bikes. The product provides flexible and comprehensive coverage beyond traditional homeowners or renters insurance, featuring liability protection, physical damage coverage, medical payments, and theft protection.

The launch responds to growing demand, with 54.7 million Americans riding bicycles in 2022, up from 51.4 million in 2021. The e-bike segment has seen explosive growth, with 1.1 million e-bikes sold in the U.S. in 2022, nearly quadrupling sales from 2019. This expansion aligns with VOOM's mission to provide insurance for the future of mobility.

Markel, part of Markel Group Inc. (NYSE:MKL), has appointed Stacey Hinton as Senior Underwriter, Head of Jewellers Block, Specie, effective immediately. Based in London, Hinton will report to Rob Ashby, Head of Specie at Markel. Her responsibilities include:

1. Driving profitable growth of Markel's international Jewellers Block portfolio
2. Developing and maintaining broker and client relationships
3. Implementing Jewellers Block underwriting strategy
4. Improving underwriting processes

Hinton brings nearly 20 years of industry experience, most recently as Head of Specie at Convex Insurance. Rob Ashby highlighted the importance of her appointment, noting the evolving risks in the jewellery trade, including increased theft due to economic challenges.

Markel, part of Markel Group Inc. (NYSE:MKL), has appointed Jack Eastwood as Senior Underwriter, Cyber, effective immediately. This move strengthens Markel's commitment to enhancing its cyber underwriting capabilities and expertise. Eastwood will be a key member of the Cyber & Technology team in London, contributing to the development and implementation of Markel's cyber underwriting strategy.

Eastwood brings over 13 years of experience from AIG, where he progressed from a financial lines underwriter to Team Leader – Cyber & Technology. He also has prior experience as a broker at Griffiths & Armour. Based in Markel's London office, Eastwood will report to Dan Fox, Head of Cyber at Markel.

This appointment is expected to bolster Markel's underwriting services and capabilities, enabling the company to better serve its broker partners and end-clients in the cyber insurance sector.

Markel Group (NYSE: MKL) has announced that its 2025 Reunion will be held at the University of Richmond Robins Center in Richmond, Virginia, on May 20 and May 21, 2025. The business component, known as The Meeting, will occur on May 21 at 2:00 p.m. ET. This event will feature insights, Q&A sessions, and panels led by Markel Group leaders. Highlights include the 2nd annual 'Crawl, Walk, & Run' event along the James River and a celebratory gathering on the University of Richmond Football field with live music, food trucks, and refreshments. CEO Tom Gayner emphasizes the event as a time for learning and fun. For more details, visit MKLReunion.com.

Markel, part of Markel Group Inc. (NYSE: MKL), has announced three key appointments to strengthen its International Casualty team and Wholesale Claims service. Lauren Percival joins as Executive Underwriter – General Liability, Olivia Hogan as Senior Underwriter, and Ed Norman as International Casualty Claims Manager.

Percival, with 18 years of London Market experience, will support the expansion of Markel's General Liability portfolio. Hogan, bringing 12 years of expertise, will focus on developing the Environmental Liability product offering. Norman, with two decades of industry knowledge, will lead the International Casualty claims function.

These strategic hires aim to diversify Markel's International Casualty portfolio, enhance broker relationships, and maintain high service levels for policyholders.