Markel falls to $328.1mn loss as cats erase gains

Markel posted a $328.1mn third-quarter operating loss as the
(re)insurer's combined ratio surged to 134 percent as
pre-announced catastrophe losses of $503mn devoured the
carrier's profits.
Cat losses weighed most heavily on the carrier's reinsurance
segment, totalling $242.3mn after assumed reinstatement premiums of
$30.8mn. The figure added 95 points to the segment's combined
ratio.
Overall cat losses added 46 points to the companywide combined
ratio for the quarter, Markel said. It added that