XML 76 R51.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Markel Group (Parent Company Only) Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule Of Condensed Balance Sheets | CONDENSED BALANCE SHEETS
| December 31,
| 2024 |  | 2023
| (dollars in thousands)
ASSETS |  |  |
Investments, at estimated fair value: |  |  |
Fixed maturity securities, available-for-sale (amortized cost of $130,983 in 2024 and $139,766 in 2023) | $ | 123,053 |  |  | $ | 131,544 |
Equity securities (cost of $1,084,814 in 2024 and $1,089,332 in 2023) | 2,071,110 |  |  | 1,731,839 |
Short-term investments, available-for-sale (estimated fair value approximates cost) | 1,410,830 |  |  | 1,032,118 |
Total Investments | 3,604,993 |  |  | 2,895,501 |
Cash and cash equivalents | 701,289 |  |  | 635,047 |
Restricted cash and cash equivalents | 20,013 |  |  | 15,908 |
Investments in consolidated subsidiaries | 16,699,125 |  |  | 14,928,756 |
Other assets | 450,327 |  |  | 441,977 |
Total Assets | $ | 21,475,747 |  |  | $ | 18,917,189 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |
Senior long-term debt | $ | 4,032,960 |  |  | $ | 3,439,197 |
Income taxes payable | 179,381 |  |  | 213,770 |
Net deferred tax liability | 274,661 |  |  | 201,140 |
Other liabilities | 72,847 |  |  | 79,154 |
Total Liabilities | 4,559,849 |  |  | 3,933,261 |
Shareholders' equity: |  |  |
Preferred stock | 591,891 |  |  | 591,891 |
Common stock | 3,560,633 |  |  | 3,517,146 |
Retained earnings | 13,380,456 |  |  | 11,353,101 |
Accumulated other comprehensive loss | (617,082) |  |  | (478,210) |
Total Shareholders' Equity | 16,915,898 |  |  | 14,983,928 |
Total Liabilities and Shareholders' Equity | $ | 21,475,747 |  |  | $ | 18,917,189 |
Schedule Of Condensed Statements Of Income (Loss) And Comprehensive Income (Loss) | CONDENSED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (dollars in thousands)
REVENUES |  |  |  |  |
Net investment income | $ | 86,583 |  |  | $ | 92,080 |  |  | $ | 34,781 |
Dividends on common stock of consolidated subsidiaries | 575,008 |  |  | 310,000 |  |  | 278,557 |
Net investment gains (losses): |  |  |  |  |
Net realized investment gains (losses) | 16,718 |  |  | (515) |  |  | 7,620 |
Change in fair value of equity securities | 342,623 |  |  | 275,048 |  |  | (397,906) |
Net investment gains (losses) | 359,341 |  |  | 274,533 |  |  | (390,286) |
Gain on sale of subsidiary | — |  |  | — |  |  | 107,293 |
Other revenues (losses) | 31,132 |  |  | (28,718) |  |  | (29,487) |
Total Revenues | 1,052,064 |  |  | 647,895 |  |  | 858 |
EXPENSES |  |  |  |  |
Interest expense | 179,626 |  |  | 156,953 |  |  | 172,125 |
Other expenses | 12,061 |  |  | 19,716 |  |  | 111,848 |
Net foreign exchange losses (gains) | (36,907) |  |  | 9,038 |  |  | (13,143) |
Total Expenses | 154,780 |  |  | 185,707 |  |  | 270,830 |
Income (Loss) Before Equity in Undistributed Earnings (Losses) of Consolidated Subsidiaries and Income Taxes | 897,284 |  |  | 462,188 |  |  | (269,972) |
Equity in undistributed earnings (losses) of consolidated subsidiaries | 1,941,339 |  |  | 1,580,347 |  |  | (72,125) |
Income tax (expense) benefit | (91,601) |  |  | (46,475) |  |  | 125,820 |
Net Income (Loss) to Shareholders | 2,747,022 |  |  | 1,996,060 |  |  | (216,277) |
Preferred stock dividends | (36,000) |  |  | (36,000) |  |  | (36,000) |
Net Income (Loss) to Common Shareholders | $ | 2,711,022 |  |  | $ | 1,960,060 |  |  | $ | (252,277) |
OTHER COMPREHENSIVE INCOME (LOSS) TO SHAREHOLDERS |  |  |  |  |
Change in net unrealized gains (losses) on available-for-sale investments, net of taxes: |  |  |  |  |
Net holding gains (losses) arising during the period | $ | 109 |  |  | $ | 1,453 |  |  | $ | (24,465) |
Consolidated subsidiaries' net holding gains (losses) arising during the period | (148,411) |  |  | 276,910 |  |  | (1,175,271) |
Reclassification adjustments for net gains (losses) included in net income (loss) to shareholders | 365 |  |  | (92) |  |  | 1,965 |
Consolidated subsidiaries' reclassification adjustments for net losses included in net income (loss) to shareholders | 17,642 |  |  | 28,632 |  |  | 42,941 |
Change in net unrealized gains (losses) on available-for-sale investments, net of taxes | (130,295) |  |  | 306,903 |  |  | (1,154,830) |
Consolidated subsidiaries' change in discount rate for life and annuity benefits, net of taxes | 252 |  |  | (22,343) |  |  | 149,874 |
Consolidated subsidiaries' change in foreign currency translation adjustments, net of taxes | (3,883) |  |  | 4,650 |  |  | (9,276) |
Consolidated subsidiaries' change in net actuarial pension loss, net of taxes | (4,946) |  |  | 74 |  |  | 24,730 |
Total Other Comprehensive Income (Loss) to Shareholders | (138,872) |  |  | 289,284 |  |  | (989,502) |
Comprehensive Income (Loss) to Shareholders | $ | 2,608,150 |  |  | $ | 2,285,344 |  |  | $ | (1,205,779) |
Schedule Of Condensed Statements Of Cash Flows | CONDENSED STATEMENTS OF CASH FLOWS
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| (dollars in thousands)
OPERATING ACTIVITIES |  |  |  |  |
Net income (loss) to shareholders | $ | 2,747,022 |  |  | $ | 1,996,060 |  |  | $ | (216,277) |
Adjustments to reconcile net income (loss) to shareholders to net cash provided by operating activities | (2,183,635) |  |  | (1,664,382) |  |  | 489,413 |
Net Cash Provided By Operating Activities | 563,387 |  |  | 331,678 |  |  | 273,136 |
INVESTING ACTIVITIES |  |  |  |  |
Proceeds from sales, maturities, calls and prepayments of fixed maturity securities | 14,459 |  |  | 72,834 |  |  | 13,047 |
Cost of fixed maturity securities purchased | (6,516) |  |  | (48,501) |  |  | — |
Proceeds from sales of equity securities | 3,662 |  |  | 24,237 |  |  | 65,379 |
Cost of equity securities purchased | (310) |  |  | (7,731) |  |  | (16,660) |
Net change in short-term investments | (315,622) |  |  | 451,846 |  |  | 58,970 |
Decrease (increase) in notes receivable due from subsidiaries | — |  |  | — |  |  | 75,645 |
Capital contributions to subsidiaries | (174,002) |  |  | (55,575) |  |  | (94,585) |
Proceeds from sale of subsidiary | — |  |  | 16,090 |  |  | 165,615 |
Cost of equity method investments | — |  |  | (5,000) |  |  | — |
Other | 2,694 |  |  | (12,691) |  |  | 4,779 |
Net Cash Provided (Used) By Investing Activities | (475,635) |  |  | 435,509 |  |  | 272,190 |
FINANCING ACTIVITIES |  |  |  |  |
Repayment of senior long-term debt | — |  |  | (250,000) |  |  | (350,000) |
Additions to senior long-term debt | 592,596 |  |  | — |  |  | — |
Decrease in notes payable to subsidiaries | — |  |  | — |  |  | (32,753) |
Repurchases of common stock | (572,728) |  |  | (445,479) |  |  | (290,796) |
Dividends paid on preferred stock | (36,000) |  |  | (36,000) |  |  | (36,000) |
Other | (1,273) |  |  | — |  |  | — |
Net Cash Used By Financing Activities | (17,405) |  |  | (731,479) |  |  | (709,549) |
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | 70,347 |  |  | 35,708 |  |  | (164,223) |
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year | 650,955 |  |  | 615,247 |  |  | 779,470 |
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS AT END OF YEAR | $ | 721,302 |  |  | $ | 650,955 |  |  | $ | 615,247 |
SUPPLEMENTAL CASH FLOW INFORMATION |  |  |  |  |
Cash dividends received from subsidiaries | $ | 575,000 |  |  | $ | 310,000 |  |  | $ | 245,102 |
Non-cash capital contributions to subsidiaries | $ | — |  |  | $ | 43,111 |  |  | $ | 923,980 |

X
- Definition Schedule of condensed balance sheets of parent company only table text block. + References No definition available. + Details
Name: | mkl_ScheduleOfCondensedBalanceSheetsOfParentCompanyOnlyTableTextBlock
Namespace Prefix: | mkl_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of condensed statements of cash flows of parent company only [table text block]. + References No definition available. + Details
Name: | mkl_ScheduleOfCondensedStatementsOfCashFlowsOfParentCompanyOnlyTableTextBlock
Namespace Prefix: | mkl_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of condensed statements of income and comprehensive income of parent company only [table text block]. + References No definition available. + Details
Name: | mkl_ScheduleOfCondensedStatementsOfIncomeAndComprehensiveIncomeOfParentCompanyOnlyTableTextBlock
Namespace Prefix: | mkl_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration