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Consolidated Statements Of Income (Loss) And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING REVENUES    
Earned premiums $ 1,497,695 $ 1,330,709
Net investment income 96,570 88,243
Net investment gains (losses) 526,871 (1,681,441)
Products revenues 328,832 352,161
Services and other revenues 450,226 245,994
Total Operating Revenues 2,900,194 335,666
OPERATING EXPENSES    
Losses and loss adjustment expenses 879,918 1,076,348
Underwriting, acquisition and insurance expenses 526,743 495,163
Products expenses 296,526 314,071
Services and other expenses 412,097 217,556
Amortization of intangible assets 39,553 [1] 37,858 [2]
Total Operating Expenses 2,154,837 2,140,996
Operating Income 745,357 (1,805,330)
Interest expense (42,389) (45,030)
Net foreign exchange gains 25,084 78,301
Income (Loss) Before Income Taxes 728,052 (1,772,059)
Income tax (expense) benefit (148,371) 370,683
Net Income (Loss) 579,681 (1,401,376)
Net income attributable to noncontrolling interests (5,987) (4,387)
Net Income (Loss) to Shareholders 573,694 (1,405,763)
Preferred stock dividends 0 0
Net Income (Loss) to Common Stockholders 573,694 (1,405,763)
OTHER COMPREHENSIVE INCOME    
Net holding gains (losses) arising during the period (214,376) 64,377
Reclassification adjustments for net gains (losses) included in net income (loss) (88) 1,187
Change in net unrealized gains on available-for-sale investments, net of taxes (214,464) 65,564
Change in foreign currency translation adjustments, net of taxes (808) (12,734)
Change in net actuarial pension loss, net of taxes 592 0
Total Other Comprehensive Income (Loss) (214,680) 52,830
Comprehensive Income (Loss) 365,001 (1,348,546)
Comprehensive income attributable to noncontrolling interests (6,004) (4,263)
Comprehensive Income (Loss) to Shareholders $ 358,997 $ (1,352,809)
NET INCOME (LOSS) PER COMMON SHARE    
Basic (in dollars per share) $ 42.09 $ (100.60)
Diluted (in dollars per share) $ 42.02 $ (100.60)
[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.