Markel reports lower Q4 profit amid pricing pressure and Matthew loss

Markel reported a 24 percent drop in operating profit as prices
declined across many of its product lines and catastrophe losses
related to Hurricane Matthew added to the deterioration in its
combined ratio during the fourth quarter.
Profit from operations fell to $212.4mn, Markel said in a
statement late today, without providing a per share figure.
The company's underwriting segment operating profit sank
across all three areas, US insurance, international insurance and
reinsurance. US insurance