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1 February 2024Insurance

Markel rides markets to $2bn profit, but insurance margins slump

Markel swung to a nearly $2 billion net profit in 2023 as investment earnings swung back into line, but admitted to difficulties in general and professional liability lines that had slowed premium growth and pushed the group’s combined ratio up 6.7 points to 98.4% on rising loss trends and fresh reserves.

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