RICHMOND, Va., Oct. 29, 2025 /CNW/ -- Markel Group Inc. (NYSE:MKL) today reported its financial results for the third quarter of 2025. The Company also announced today it filed its Form 10-Q for the quarter ended September 30, 2025 with the Securities and Exchange Commission.

"I'm very pleased with our overall results and the progress we've made as a company this year," said Tom Gayner, Chief Executive Officer. "Revenues and adjusted operating income of our businesses are both up for the year and for the quarter. We're seeing improvement in our insurance combined ratio. And $2.1 billion in operating cash flow has helped fund continued steady share repurchases. In short, the strength of our diversified approach is on display, and we're seeing tangible signs of improvement in areas we've been focused on."

Summary of our third quarter results:

• Operating revenues increased 7% for the quarter and 4% year to date.
• Operating income, which is affected by market movements in our equity portfolio, decreased 26% for the quarter and 23% year to date.
• Adjusted operating income, which excludes the impact of market movements in our equity portfolio, increased 24% for the quarter and 7% year to date.
• For Markel Insurance, our cornerstone business:
  • Underwriting gross premium volume increased 11% for the quarter and 4% year to date.
  • Operating revenues increased 6% for the quarter and 3% year to date.
  • Adjusted operating income increased 55% for the quarter and 11% year to date due to increases in underwriting profitability and net investment income.
  • The combined ratio improved by more than four points in the quarter to 93%. For the year-to-date period, Markel Insurance's combined ratio was consistent period-over-period at 95%.
• Comprehensive income to shareholders was over $2 billion year to date.
• Operating cash flows were $2.1 billion year to date.
• Share repurchases were $344 million year to date, and we had 12.6 million shares outstanding at September 30, 2025.

The following table presents summary consolidated financial data.

We made notable changes to our financial reporting in the third quarter of 2025. Please refer to the "Reporting Changes Guide" posted to our website at ir.mklgroup.com and furnished as Exhibit 99.3 in the Form 8-K that was filed by the Company on October 29, 2025.

Markel Insurance Segment

Industrial Segment

Financial Segment

Consumer and Other Segment

* * * * * * * *

A copy of our Form 10-Q is available on our website at mklgroup.com, under Investor Relations-Financials, or on the SEC website at www.sec.gov. Readers are urged to review the Form 10-Q for a more complete discussion of our financial performance. Our quarterly conference call, which will involve discussion of our financial results and business developments and may include forward-looking information, will be held Thursday, October 30, 2025, beginning at 9:30 a.m. (Eastern Time). Investors, analysts, and the general public may listen to the call via live webcast at ir.mklgroup.com. The call may be accessed telephonically by dialing (888) 660-9916 in the U.S., or +1 (646) 960-0452 internationally, and providing Conference ID: 4614568. A replay of the call will be available on our website approximately one hour after the conclusion of the call. Any person needing additional information can contact Markel Group's Investor Relations Department at IR@markel.com.

Supplemental Financial Information

The following table summarizes our results by segment.

Do not sell my personal information