Markel Group Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Debt Securities	19,832	18,270	16,944	14,526	14,387
Equity and Preferred Securities	13,004	11,785	9,578	7,672	9,024
Total Investments	32,836	30,055	26,522	22,198	23,411
Cash & Equivalents	4,603	4,192	4,332	5,222	4,881
Reinsurance Contract Assets	17,690	14,552	11,601	10,513	9,092
Deferred Acquisition Costs	909.52	875.71	931.34	925.48	794.15
Other Receivables	3,965	3,627	3,455	2,961	2,414
Other Intangible Assets	1,543	1,460	1,589	1,747	1,822
Goodwill	2,822	2,736	2,625	2,639	2,899
Other Assets	4,536	4,401	3,991	3,586	3,163
Total Assets	68,905	61,898	55,046	49,791	48,477
Unearned Premiums	7,253	7,064	6,642	6,221	5,384
Claims Reserves	30,857	26,633	24,132	21,599	19,082
Reinsurance Contract Liabilities	1,668	1,435	1,038	669.74	616.67
Total Debt	4,304	4,330	3,780	4,104	4,361
Other Liabilities	5,721	4,967	3,927	3,461	3,832
Total Liabilities	49,803	44,429	39,520	36,054	33,276
Preferred Stock	-	591.89	591.89	591.89	591.89
Common Stock	3,672	3,561	3,517	3,494	3,441
Accumulated Other Comprehensive Income	-109.46	-617.08	-478.21	-767.49	237.62
Retained Earnings	15,035	13,380	11,353	9,833	10,447
Total Common Shareholders' Equity	18,598	16,916	14,984	13,151	14,717
Minority Interest	504.43	553.08	541.97	585.95	484.24
Shareholders' Equity	18,596	16,929	15,056	13,214	14,740
Total Liabilities & Equity	68,905	61,898	55,046	49,791	48,477
Book Value	18,598	16,916	14,984	13,151	14,717
Book Value Per Share	1470.41	1297.13	1120.04	968.42	1066.47
Tangible Book Value	14,233	12,720	10,770	8,765	9,996
Tangible Book Value Per Share	1125.29	975.42	805.09	645.42	724.33

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.