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Consolidated Statements Of Income (Loss) And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING REVENUES    
Earned premiums $ 1,330,709 $ 1,203,977
Net investment income 88,243 114,182
Net realized investment gains 9,738 681
Change in fair value of equity securities (1,691,179) 611,510
Net investment gains (losses) (1,681,441) 612,191
Products revenues 352,161 348,794
Services and other revenues 245,994 193,344
Total Operating Revenues 335,666 2,472,488
OPERATING EXPENSES    
Losses and loss adjustment expenses 1,076,348 687,746
Underwriting, acquisition and insurance expenses 495,163 455,212
Products expenses 314,071 319,426
Services and other expenses 217,556 174,606
Amortization of intangible assets 37,858 [1] 40,668 [2]
Total Operating Expenses 2,140,996 1,677,658
Operating Income (Loss) (1,805,330) 794,830
Interest expense (45,030) (40,290)
Net foreign exchange gains (losses) 78,301 (21,864)
Income (Loss) Before Income Taxes (1,772,059) 732,676
Income tax (expense) benefit 370,683 (155,163)
Net Income (Loss) (1,401,376) 577,513
Net income attributable to noncontrolling interests (4,387) (1,086)
Net Income (Loss) to Shareholders (1,405,763) 576,427
OTHER COMPREHENSIVE INCOME    
Net holding gains arising during the period 64,377 152,331
Reclassification adjustments for net gains (losses) included in net income (loss) 1,187 (246)
Change in net unrealized gains on available-for-sale investments, net of taxes 65,564 152,085
Change in foreign currency translation adjustments, net of taxes (12,734) 2,377
Change in net actuarial pension loss, net of taxes 0 1,361
Total Other Comprehensive Income 52,830 155,823
Comprehensive Income (Loss) (1,348,546) 733,336
Comprehensive income attributable to noncontrolling interests (4,263) (1,091)
Comprehensive Income (Loss) to Shareholders $ (1,352,809) $ 732,245
NET INCOME (LOSS) PER SHARE    
Basic (in dollars per share) $ (100.60) $ 42.81
Diluted (in dollars per share) $ (100.60) $ 42.76
[1]
Segment profit for the Markel Ventures segment includes amortization of intangible assets attributable to Markel Ventures. Amortization of intangible assets is not allocated to the Company's Insurance and Reinsurance segments.
[2]
Segment profit for the Markel Ventures segment includes amortization of intangible assets attributable to Markel Ventures. Amortization of intangible assets is not allocated to the Company's Insurance and Reinsurance segments.