Markel Group Inc. - MKL STOCK NEWS

Markel, part of Markel Group Inc. (NYSE: MKL), has appointed April Tam as Senior Underwriter, Professional Financial Risk (PFR) & Cyber and Head of Financial Institutions in Asia. This strategic hire aims to advance Markel's profile and reinforce its leadership in the PFR sector. Tam will focus on driving profitable growth of the PFR book and strengthening Markel's Financial Institutions proposition in Asia.

Tam joins from Allianz Commercial, where she was Financial Institutions Practice Leader, Asia. With over 12 years of experience in Financial Lines underwriting, she brings expertise and strong broker relationships. Based in Hong Kong, Tam will report to Kevin Leung, Chief Underwriting Officer, Asia Pacific.

Markel, part of Markel Group Inc. (NYSE: MKL), has launched FintechRisk+, a new insurance policy designed for fintech companies. This policy offers comprehensive coverage including financial services and technology liability, D&O liability, theft, and cyber protection, with limits up to $20 million. Key features include enhanced business interruption coverage and new cyber extensions such as betterment and crypto jacking.

UK policyholders will have access to Markel's Tax and Legal advisory services, including a 24/7 helpline, debt recovery support, and R&D tax relief consultancy. Additionally, insureds can utilize online cyber training and a risk management toolkit via Markel's eRisk Hub. This launch underscores Markel's commitment to addressing evolving risks in the cyber and fintech markets, particularly the growing threat of ransomware attacks.

Markel, part of Markel Group Inc. (NYSE: MKL), has appointed Jamie Mullarkey as the new Global Executive Underwriting Officer for Property and First Party Lines. In this role, Mullarkey will lead strategy for these product lines, fostering collaboration across the organization and supporting multiple initiatives. With over 15 years of insurance experience, including work at Marsh and leadership roles at other carriers, Mullarkey brings a strong background in both brokerage and carrier sides of the industry.

Robin Russo, Executive Vice President – Insurance at Markel, expressed confidence in Mullarkey's ability to work with divisional teams to deliver value for insureds and partners. This appointment aims to enhance Markel's underwriting strategy and vision for property and first party lines.

Markel, part of Markel Group Inc. (NYSE:MKL), has appointed Rhys O'Neill as Senior Underwriter, Marine & Energy Liability in its International Specialty division. O'Neill, based in London, will focus on enhancing underwriting strategies and strengthening relationships with key stakeholders. He reports to Grant Smith, recently hired as Director of Marine & Energy Liability, International Specialty.

O'Neill joins from QBE, where he managed a diverse marine liability portfolio. His appointment aligns with Markel's strategy to establish leadership in the marine and energy liability market. The company emphasizes the growing importance of liability risk management in an increasingly risky and litigious environment for marine and energy companies.

SageSure, a leading managing general underwriter for catastrophe-exposed markets, has announced a collaboration with Markel (NYSE: MKL) to enhance its Expanded Markets program. The partnership will initially distribute Markel's insurance products in Louisiana, South Carolina, and Texas, with plans to expand to more states.

This collaboration aligns two companies specializing in complex risks and challenging markets. SageSure's proprietary platform will allow producers to quote and bind Markel's products quickly. The partnership aims to increase capacity and broaden underwriting eligibility in coastal regions, leveraging Markel's extensive underwriting expertise and SageSure's innovative approach to serving difficult markets.

Markel, part of Markel Group (NYSE:MKL), has appointed Grant Smith as Director, Marine & Energy Liability, International Specialty, effective immediately. This move aims to enhance Markel's international specialty underwriting capabilities. Smith will lead the Marine & Energy Liability team across Markel's International Wholesale business, focusing on driving sustainable, profitable growth and expanding market share. Based in London, he will report to Tom Hillier, Managing Director, International Specialty.

Smith brings over 17 years of experience in liability insurance, previously serving as Portfolio Manager Specialty at QBE European Operations. His appointment aligns with Markel's strategy to establish itself as a market leader in Marine and Energy liabilities, addressing clients' evolving needs in a challenging environment marked by economic inflation, regulatory changes, and emerging risks.

Markel, part of Markel Group Inc. (NYSE: MKL), has announced several key hires to strengthen its operations in Singapore and Hong Kong. The appointments include:

- Alvernia Xu as Head of Operations – Asia Pacific (Singapore)
- Jenny Choi as Senior Underwriter, Casualty (Hong Kong)
- Anna Tan as Senior Underwriter, Fine Art & Specie (Hong Kong)
- Olga Wong as Senior Underwriter, Professional Financial Risk (Singapore)
- Isabelle Wong as Cargo Underwriter (Singapore)

These strategic hires aim to enhance Markel's underwriting capabilities, improve operational efficiency, and support the company's growth strategy in the Asia Pacific region. The new team members bring extensive experience in their respective fields, which is expected to strengthen Markel's market position and service offerings for clients and brokers in key Asian markets.

Markel Group Inc. (NYSE: MKL) reported its Q2 2024 financial results, showing mixed performance across its three engines: Insurance, Investments, and Markel Ventures. Insurance saw steady progress, particularly in international operations. Markel Ventures demonstrated strong growth in operating income despite softening market conditions. Net investment income continued to grow, increasing 31% for Q2 and 34% for H1 2024.

Key financial highlights include:

• Total operating revenues: $3.70 billion for Q2 2024
• Consolidated segment operating income: $454.2 million for Q2 2024
• Diluted net income per common share: $18.62 for Q2 2024
• Combined ratio: 93.5% for Q2 2024

The company's long-term performance remains strong, with a 7% compound annual growth rate in closing stock price per share from December 31, 2019 to June 30, 2024.

Markel Group Inc. (NYSE: MKL) has announced a conference call scheduled for Thursday, August 1, 2024, at 9:30 am (Eastern Time). The call will discuss quarterly results and business developments. Investors, analysts, and the public can access the call via:

• Live webcast at ir.mklgroup.com
• Phone: (888) 660-9916 (U.S.) or (646) 960-0452 (international)
• Conference ID: 4614568

A replay will be available on the company's website approximately one hour after the call concludes. The webcast, call, and related content are the exclusive copyrighted property of Markel Group Inc. and cannot be reproduced without express written consent.