Markel UW profit dips 8% in Q2 due to core LR deterioration, $56mn IP charge

Published: Thu 1 Aug 2024

Markel’s underwriting profit fell 8 percent to $134mn in Q2, driven by a 450 basis point (bps) weakening in its consolidated core loss ratio following higher casualty and professional liability claims, along with a $56mn charge tied to its discontinued intellectual property collateral protection product.