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Get filing alertsMarkel reports Middle East conflict losses, reinsurance run-off, and 96% cash flow drop
Filed April 28, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~1 min read
Key Changes
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$35M in losses from Middle East conflict following Feb 2026 U.S./Israeli strikes on Iran, concentrated in terrorism and marine war coverages. Company warns conflict is ongoing and future losses may be material.
MD&A: Middle East conflict verify on EDGAR → -
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Operating cash flow collapsed 96% to $16M from $376M, driven by $108M in payments to reinsure Hagerty exposures and lower premium collections from Global Reinsurance run-off.
MD&A: Cash flows verify on EDGAR → -
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Global Reinsurance division entered run-off after selling renewal rights in Aug 2025, cutting gross premiums 83% to $100M. Division's combined ratio deteriorated to 114% on adverse prior-year reserves.
MD&A: Global Reinsurance verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify