Markel has reported total revenues of $536.7m for the first quarter of 2010, an increase of 8.4% compared to $495.1m for the same quarter in 2009.
The company’s operating income for the quarter were $80.5m which is an increase of 124% compared to $35.9m for the same period last year.
Earned premiums for the first quarter of 2010 were $412.1m, a decrease of 9.8% compared to $457.2m for the same quarter in 2009.
For the quarter ended March 31, 2010, the company posted a net income of $43.2m, or $4.33 per diluted share compared to $16.4m, or $1.67 per diluted share for the same period last year.
Alan Kirshner, chairman and CEO, said: “Our results continue to benefit from the rebound of the financial markets with our invested assets approaching $8bn. On the underwriting side, we produced a small loss as a result of the Chilean earthquakes. We continue to look for opportunities in the insurance marketplace to profitably grow our business and build value for our shareholders.”