Markel reports Q1 EPS $75.43 vs. $37.26 last year

Reports Q1 revenue $4.47B, consensus $3.57B. “We are pleased with the overall performance of our businesses as we start the year,” said CEO Tom Gayner. “Our insurance team grew the top line year over year, and both operating income and the combined ratio improved significantly from the close of last year as we work towards our long-term profitability objectives. Net investment income increased amid higher interest rates, and our public investments were up meaningfully. Lastly, our Markel Ventures businesses had another terrific quarter, and we couldn’t be more pleased with the results of their efforts. Our promise to shareholders is to drive strong performance over the long-term, and with quarters like these, we continue to make progress towards that goal.”