Markel UW income drops 38% in Q4 to $137mn after $53mn insurance reserve charge

Underwriting income at Markel fell by 38 percent in the fourth quarter to $137mn - hurt by a $53mn reserve charge within its insurance division - after the same unit released $109mn in reserves in Q4:21, reporting a combined ratio that rose 5.5 points in the quarter to 93.3 percent.