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
Investments in Debt Securities	17,798	15,746	14,373	11,857	12,587
Investments in Equity & Preferred Securities	13,742	12,647	10,184	8,166	9,484
Other Investments	2,034	2,525	2,571	2,669	1,800
Total Investments	33,574	30,917	27,128	22,692	23,871
Cash & Equivalents	3,965	3,693	3,747	4,137	3,978
Reinsurance Recoverable	14,616	11,605	9,236	8,447	7,294
Other Receivables	3,989	3,640	3,456	2,971	2,433
Deferred Policy Acquisition Cost	909.52	875.71	931.34	925.48	794.15
Property, Plant & Equipment	2,158	2,081	1,929	1,200	1,100
Goodwill	2,822	2,736	2,625	2,639	2,899
Other Intangible Assets	1,543	1,460	1,589	1,747	1,822
Restricted Cash	638.6	499.58	584.97	1,084	902.46
Other Current Assets	3,777	3,678	2,982	2,706	2,328
Long-Term Deferred Tax Assets	32.8	40	23.5	37.2	18.4
Other Long-Term Assets	879.92	672.41	815.13	1,205	1,037
Total Assets	68,905	61,898	55,046	49,791	48,477
Insurance & Annuity Liabilities	30,857	26,633	24,132	21,599	19,082
Unearned Premiums	7,253	7,064	6,642	6,221	5,384
Reinsurance Payable	1,668	1,435	1,038	669.74	616.67
Current Portion of Leases	140.42	-	-	-	-
Current Income Taxes Payable	88.2	40.3	29.4	2.2	31.3
Long-Term Debt	4,304	4,330	3,780	4,104	4,361
Long-Term Leases	569.62	723.92	657.22	554.39	571.34
Long-Term Deferred Tax Liabilities	1,900	1,600	1,200	896.7	1,400
Other Long-Term Liabilities	3,022	2,602	2,041	2,008	1,829
Total Liabilities	49,803	44,429	39,520	36,054	33,276
Preferred Stock, Redeemable	-	591.89	591.89	591.89	591.89
Common Stock	3,672	3,561	3,517	3,494	3,441
Retained Earnings	15,035	13,380	11,353	9,833	10,447
Comprehensive Income & Other	-109.46	-617.08	-478.21	-767.49	237.62
Total Common Equity	18,598	16,324	14,392	12,559	14,125
Minority Interest	504.43	553.08	541.97	585.95	484.24
Shareholders' Equity	19,102	17,469	15,526	13,737	15,202
Total Liabilities & Equity	68,905	61,898	55,046	49,791	48,477
Filing Date Shares Outstanding	12.58	12.77	13.11	13.41	13.61
Total Common Shares Outstanding	12.59	12.79	13.13	13.42	13.63
Total Debt	5,014	5,054	4,437	4,658	4,933
Net Cash (Debt)	-1,049	-1,362	-689.95	-520.59	-954.11
Net Cash Per Share	-82.95	-104.41	-51.57	-38.34	-69.14
Book Value Per Share	1477.23	1276.30	1095.95	935.65	1036.20
Tangible Book Value	14,233	12,129	10,179	8,173	9,404
Tangible Book Value Per Share	1130.51	948.27	775.10	608.87	689.84

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q