Markel Group Inc

MKL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2,543.00	Fjbw	Nzxchkhdw

Markel Earnings: Investments Pick Up the Slack

Brett Horn

Apr 27, 2023

Markel produced a solid first quarter. While underwriting results were not impressive, in our view, given current market dynamics, the company had a good showing on the investment side. We will maintain our $1,250 per share fair value estimate for the no-moat company and see the shares as being about fairly valued.

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