Specialty insurance carrier Markel Corp. reported third-quarter income dropped 254 percent on lower investment returns and claims losses related to this season's hurricanes, but the company remains strong and is looking to increase prices, its chief executive said.
The Richmond, Va.-based carrier reported third-quarter net income dropped $235 million from net income of $92 million, $9.26 a share, to income loss of $142 million, or loss per share of $14.46.
Revenues fell 33 percent, or $204 million, going from $619 million to $416 million.
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