Markel Group Inc. (MKL) Revenue by Segment

Markel revenue by segment at a glance

In Q2 fiscal 2026 (the quarter ended June 30, 2026), Markel's largest business segment was Markel Insurance, with $2.23 billion or 56% of revenue, down 2.0% from a year earlier. Next: Industrial (26%), Consumer and Other (14%) and Financial (4%).

By product or service, Underwriting Operations brought in 100% and Program Services and Other brought in under 1% of revenue in Q3 fiscal 2019.

The fastest-growing business segment from a year earlier was Consumer and Other (+4.3%).

From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q3 fiscal 2017.

Markel Group Inc.

MKLFinancial Services

United States

Financial Services

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

InsuranceMarkel InsuranceMarkel VenturesIndustrialMarkel Ventures OperationsReinsuranceConsumer and OtherInvestingOther

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026

Item	Revenue	Share	vs year before
Markel Insurance	USD 2.23B	55.9%	-2.0%
Industrial	USD 1.04B	26.0%	+2.2%
Consumer and Other	USD 551.97M	13.8%	+4.3%
Financial	USD 171.35M	4.3%	-0.9%
Corporate and eliminationsi	USD 23.13M		-7.9%

Sum of items USD 4.00B; corporate items and eliminations USD 23.13M. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18	Q4 FY17	Q3 FY17
Insurance	–	–	–	–	–	–	–	–	–	1.9B	2.0B	1.8B	1.8B	1.7B	–	1.7B	–	–	–	–	1.3B	1.2B	–	–	1.1B	–	–	1.1B	991.3M	973.7M	–	961.1M	918.2M	902.9M	–	840.4M
Markel Insurance	2.2B	2.2B	2.4B	2.4B	2.3B	2.2B	–	2.3B	2.0B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Markel Ventures	–	–	–	–	–	–	689.5M	–	1.5B	1.1B	–	1.2B	1.4B	1.1B	–	1.2B	1.4B	950.4M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Industrial	1.0B	883.1M	1.0B	1.0B	1.0B	829.6M	–	998.3M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Markel Ventures Operations	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	953.5M	908.2M	–	–	781.5M	824.1M	–	511.0M	486.5M	–	–	–	472.0M	–	–	–	–	–
Reinsurance	–	–	–	–	–	–	–	–	–	253.3M	214.6M	274.2M	268.3M	257.2M	–	260.5M	–	–	–	–	265.0M	254.1M	–	–	240.6M	–	–	240.1M	207.7M	230.5M	–	225.3M	229.6M	248.0M	–	259.6M
Consumer and Other	552.0M	280.5M	274.5M	291.4M	529.2M	287.8M	–	265.3M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Investing	–	–	–	–	–	–	7.1M	–	99.8M	1.1B	–	- 79.9M	647.1M	528.8M	–	- 174.1M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial	171.3M	161.5M	224.1M	161.5M	172.9M	178.5M	–	138.8M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Other	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	68.6M	55.7M	162.2M	104.5M	83.2M	- 507.0K	- 419.0K	100.8M	63.5M	- 532.0K	87.1M	104.5M	1.0M	464.0K	- 260.0K	–	–	–	–	–	–
Other Insurance Operations	–	–	–	–	–	–	90.4M	–	137.8M	57.9M	–	85.9M	77.4M	41.8M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Corporate and eliminations	23.1M	23.8M	28.2M	33.3M	25.1M	25.7M	–	33.7M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
All other segments	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	74.8M	–	–	–	–	–
Other	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	- 1.0M	377.0K	206.0K	–	- 178.0K

Markel revenue by business segment, last 4 quarters

Business segment	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Markel Insurance	$2.2B	$2.2B	$2.4B	$2.3B	56%
Industrial	$1.0B	$883.1M	$1.0B	$1.0B	26%
Consumer and Other	$552.0M	$280.5M	$291.4M	$529.2M	14%
Financial	$171.3M	$161.5M	$161.5M	$172.9M	4%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Markel revenue by product or service, last 4 quarters

Product or service	Q1 FY23	Q3 FY22	Q2 FY22	Q1 FY22	Share
Underwriting Operations	$2.0B	$2.0B	$1.8B	$1.8B	100%
Program Services and Other	–	–	–	–	under 1%

In USD, fiscal quarters as reported; share = part of Q3 FY19 revenue.

Questions and answers

What are Markel's business segments?

Markel Insurance, Industrial, Consumer and Other and Financial (as reported for Q2 fiscal 2026).

Which business segment makes the most money for Markel?

Markel Insurance: $2.23 billion, or 56% of revenue, in Q2 fiscal 2026.

What are Markel's main products and services?

By revenue in Q3 fiscal 2019: Underwriting Operations (100%) and Program Services and Other (under 1%).

MoreMarkel stock overview Markel financials Markel executive team Markel shareholders

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.