Markel Group Inc

MKL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$6,729.00	Rjmc	Vkmrgflnn

Markel Reports Mixed Fourth Quarter

Brett Horn

Feb 2, 2023

Markel saw a bit of a bounceback on the investing side in the fourth quarter, but the strength there was offset by weaker underwriting results. For the full year, book value per share declined 10%, due mainly to investment losses. Overall, we see nothing in the quarter that materially alters our long-term view, and we will maintain our $1,250 fair value estimate and no-moat rating.

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