Markel Insurance was Markel’s largest segment in fiscal 2025, bringing in $4.92B of $5.55B (89%).
| Segment | FY 2009 | FY 2017 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Insurance | — | — | — | ||
| Markel Insurance | $4.99B | $4.89B | $4.92B | ||
| Reinsurance | — | — | — | ||
| Excess & Surplus Lines | — | — | — | ||
| Financial | $567.96M | $603.40M | $628.69M | ||
| London Insurance Market | — | — | — | ||
| Specialty Admitted | — | — | — | ||
| Other | — | — | — | ||
| Other Insurance (Discontinued Lines) | — | — | — | ||
| Fronting | -$2.43M | -$7.16M | $784.00K | ||
| Total | $5.56B | $5.49B | $5.55B |
Markel brought in $5.55B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 1.0% from $5.49B in fiscal 2024. Markel Insurance was the largest at $4.92B (88.6%), ahead of Financial at $628.69M (11.3%) and Fronting at $784.00K (0.0%).
Compared with fiscal 2024, Financial grew 4.2% to $628.69M and Markel Insurance grew 0.5% to $4.92B. From fiscal 2023 to 2025, combined revenue from these segments fell from $5.56B to $5.55B, a compound annual decline of 0.1%. Markel Insurance's share of the total fell from 89.8% to 88.6%.
General Liability was Markel’s largest product and service line in fiscal 2023, bringing in $4.99B of $16.02B (31%).
| Product and Service | FY 2019 | FY 2021 | FY 2023 |
|---|---|---|---|
| Professional Liability | $3.69B | $4.37B | |
| General Liability | $3.76B | $4.99B | |
| Marine & Energy | $991.79M | $1.48B | |
| Property | $984.79M | $1.09B | |
| Personal Lines | $902.19M | $1.08B | |
| Casualty | — | — | |
| Workers' Compensation | $708.67M | $907.53M | |
| Programs | $444.82M | $1.02B | |
| Other Products | $659.99M | $480.37M | |
| Specialty | $553.89M | — | |
| Credit & Surety | $322.31M | $603.32M | |
| Total | $13.01B | $16.02B |
Markel brought in $16.02B from its nine product and service lines in fiscal 2023, the year ended December 31, 2023. Markel regrouped these lines after fiscal 2021, so the total does not compare directly with that year's $13.01B. General Liability was the largest at $4.99B (31.2%), ahead of Professional Liability at $4.37B (27.3%) and Marine & Energy at $1.48B (9.2%). The other six lines brought in $5.18B combined.
Compared with fiscal 2021, the previous year with figures, Programs grew fastest, up 129.2% to $1.02B, while Other Products fell the most, down 27.2% to $480.37M.
Markel stopped reporting Specialty as a separate line after fiscal 2021, when it brought in $553.89M.
General Liability was Markel’s largest segment in fiscal 2013, bringing in $863.60M of $4.76B (18%).
| Reinsurance Premiums For Insurance Companies By Product Segment | FY 2013 |
|---|---|
| General Liability | $863.60M |
| Marine & Energy | $575.49M |
| Professional Liability | $536.41M |
| Workers' Compensation | $501.58M |
| Casualty | $489.96M |
| Property | $454.79M |
| Programs | $410.01M |
| Other Insurance | $391.01M |
| Personal Lines | $371.87M |
| Auto | $168.08M |
| Total | $4.76B |
Markel brought in $4.76B from its 10 segments in fiscal 2013, the year ended December 31, 2013. General Liability was the largest at $863.60M (18.1%), ahead of Marine & Energy at $575.49M (12.1%) and Professional Liability at $536.41M (11.3%). The other seven segments brought in $2.79B combined.
Markel (MKL) reports its revenue by segment, by product and service and by reinsurance premiums for insurance companies by product segment. In fiscal 2025, Markel Insurance was its largest segment, bringing in $4.92B (88.6% of the total), followed by Financial at $628.69M (11.3%).
Markel Insurance was Markel's largest segment in fiscal 2025, bringing in $4.92B, or 88.6% of the $5.55B total across its three segments.
General Liability was Markel's largest product and service line in fiscal 2023, bringing in $4.99B, or 31.2% of the $16.02B total across its nine product and service lines.
Financial grew faster than Markel Insurance in fiscal 2025, up 4.2% from $603.40M to $628.69M. Markel Insurance grew 0.5% to $4.92B.
Every figure comes from Markel's annual financial filings, as reported. Each line keeps the name Markel gives it, and years follow its fiscal calendar.
Markel's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.