Markel Corporation (MKL) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 3, 2022 9:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Markel Corporation Second Quarter 2022 Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]

During the call today, we may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. They are based on current assumptions and opinions concerning a variety of known and unknown risks. Actual results may differ materially from those contained in or suggested by such forward-looking statements.

Additional information about factors that could cause actual results to differ materially from those projected into the forward-looking statements is included in our most recent annual report on Form 10-K and quarterly report on Form 10-Q including under the captions Risk Factors and Safe Harbor and Cautionary Statement.

We may also discuss certain non-GAAP financial measures in the call today. You may find the most directly comparable GAAP measures and a reconciliation to GAAP for these measures in our most recent Form 10-Q. Our Form 10-K and Form 10-Q can be found on our website at www.markel.com in the For Investors section. Please note this event is being recorded.

I would now like to turn the conference over to Tom Gayner, Co-Chief Executive Officer. Please go ahead.

Tom Gayner

Good morning, and thank you, Andrew. This is Tom Gayner and I'm pleased to welcome you to the Markel Corporation's second quarter 2022 conference call. I'm joined this morning as usual by my co-CEO, Richie Whitt who will update you on our insurance engine and our CFO, Jeremy Noble, who will speak to the overall financial results at Markel.

We are pleased with our ongoing economic performance. The first half results in our insurance and ventures engines show continued growth in revenues and earnings. The investment results require a little bit more analysis and thought to see the progress we're making, but I'm pleased with our results and our process. I'll speak more specifically about investments and ventures after Ritchie in a few minutes.

We always look forward to sharing our results with you. We continue to focus on building the long-term value of Markel in multiple dimensions. We continue to operate with the win, win, win focus where our customers are better off for having dealt with us. Our associates along with their families and communities are better off for being part of us and our shareholders earn excellent returns on the capital needed to run this business.