Markel Group Inc

MKL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$5,813.00	Lksn	Cyhmxdzs

Markel Earnings: Underwriting a Little Weak, but Investment Results Are Strong

Brett Horn

Aug 3, 2023

Markel produced a solid overall second quarter. While the company appears to be lagging its peers on the underwriting side, a relatively aggressive investing approach paid off this quarter. Overall, though, we don’t see anything that materially alters our long-term view and will maintain our $1,310 fair value estimate for the no-moat company. We see shares as slightly overvalued.

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