Markel

Q3 FY2026 EarningsQ3 FY26 total operating revenues of $4.16B beat the $3.78B consensus, driven by organic growth in the Industrial segment and elevated breach premiums in International insurance. However, Diluted EPS of $18.15 significantly missed the $29.38 consensus due to $280.9M in net investment losses from equity market volatility. While the insurance combined ratio improved to 91.9% (vs. 92.7% YoY), underwriting profitability was partially offset by $74.6M in losses related to the Middle East conflict.