XML 68 R43.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Life And Annuity Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Schedule of Future Policyholder Benefits, Life and Annuity | The following table presents the components of the Company's liabilities for life and annuity benefits.
| December 31,
(dollars in thousands) | 2024 |  | 2023
Liability for future policyholder benefits | $ | 491,370 |  |  | $ | 557,763 |
Deferred profit liability | 51,482 |  |  | 52,287 |
Other | 40,421 |  |  | 39,004 |
Total | $ | 583,273 |  |  | $ | 649,054 |
Liability for Future Policy Benefit, Activity | The following table presents a rollforward of the present value of the liability for future policyholder benefits.
| Years Ended December 31,
(dollars in thousands) | 2024 |  | 2023 |  | 2022
Liability for future policyholder benefits, beginning of year | $ | 557,763 |  |  | $ | 554,366 |  |  | $ | 821,632 |
Liability for future policyholder benefits at original discount rate, beginning of year | 642,877 |  |  | 667,761 |  |  | 745,313 |
Effect of changes in cash flow assumptions | — |  |  | — |  |  | — |
Effect of actual variances from expected experience | (4,745) |  |  | (5,890) |  |  | (3,859) |
Adjusted liability for future policyholder benefits, beginning of year | 638,132 |  |  | 661,871 |  |  | 741,454 |
Interest accretion | 13,996 |  |  | 14,889 |  |  | 15,625 |
Benefit payments | (49,200) |  |  | (52,588) |  |  | (53,232) |
Effect of foreign currency rate changes | (26,126) |  |  | 18,705 |  |  | (36,086) |
Liability for future policyholder benefits at original discount rate, end of year | 576,802 |  |  | 642,877 |  |  | 667,761 |
Cumulative effect of changes in discount rate assumptions | (85,432) |  |  | (85,114) |  |  | (113,395) |
Liability for future policyholder benefits, end of year | $ | 491,370 |  |  | $ | 557,763 |  |  | $ | 554,366 |
Liability for future policyholder benefits, undiscounted, end of year | $ | 737,575 |  |  | $ | 824,642 |  |  | $ | 861,264 |
Schedule of Additional Details of Liability for Future Policyholder Benefits, Life and Annuity | The following table summarizes additional details for the Company's liability for future policyholder benefits.
| December 31,
| 2024 |  | 2023
Weighted-average interest rate: |  |  |
Interest accretion rate | 2.3 | % |  | 2.3 | %
Current discount rate | 4.0 | % |  | 3.8 | %
Weighted-average liability duration | 8.3 years |  | 8.6 years

X
- Definition Schedule of Additional Details of Liability for Future Policyholder Benefits, Life and Annuity + References No definition available. + Details
Name: | mkl_ScheduleOfAdditionalDetailsOfLiabilityForFuturePolicyholderBenefitsLifeAndAnnuityTableTextBlock
Namespace Prefix: | mkl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Future Policyholder Benefits, Life and Annuity + References No definition available. + Details
Name: | mkl_ScheduleOfFuturePolicyholderBenefitsLifeAndAnnuityTableTextBlock
Namespace Prefix: | mkl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of beginning balance to ending balance for liability for future policy benefit, with separate presentation of expected future net premium and expected future benefit. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29E Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-6 + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration