The combined ratio for Markel Insurance was 96.9% for the second quarter, up from 93.8% a year earlier. The company attributed the increase to adverse development during 2025 on run-off risk-managed directors and officers product lines, as well as within its global reinsurance division, which is now being placed into run-off. This contributed to lower favorable development on prior accident year loss reserves compared to Q2 2024.
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