Markel reports falling profit and rising revenue for 2017


Markel Corporation has posted a fall in profit to $395.3m (£283.7m) for 2017, down 13% on the $455.7m achieved in 2017.

The US-headquartered insurer revealed that gross written premiums (GWP) for the year rose 15% to $5.51bn (2016: $4.8bn).

The combined operating ratio (COR) deteriorated to 105% from 92% in the previous 12 months.

It did not provide a breakdown for UK figures, however the international insurance segment had a COR of 104% (2016: 94%).

The firm highlighted that

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