Markel blames Covid-19 as it swings to $1.4bn Q1 loss
Markel has posted a $1.4bn (£1.13bn) loss for the first quarter of 2020 blaming “significant volatility in the equity markets” due to the coronavirus pandemic.
It is the latest insurer to reveal the impact of the Covid-19 crisis. Last week Beazley reported a $170m hit while Chubb took $13m of pre-tax losses.
Markel reported a net investment loss of $1.7bn
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