Trump Jr., Omeed Malik Target US Manufacturing for Next SPAC
The likely theme: the 'reindustrialization' of America, the pair said in a joint interview at the New York Stock Exchange.
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Yahoo
23 minutes ago
- Yahoo
Markel Group reports 2025 second quarter and six-months results
RICHMOND, Va., July 30, 2025 /PRNewswire/ -- Markel Group Inc. (NYSE:MKL) today reported its financial results for the second quarter of 2025. The Company also announced today it filed its Form 10-Q for the quarter ended June 30, 2025 with the Securities and Exchange Commission. "We've made meaningful changes across our business in recent years, all with the goal of consistently compounding your capital," said Tom Gayner, Chief Executive Officer of Markel Group. "Our results included $1.4 billion in operating income through the first half of the year. Also, this quarter, we took another step to simplify the structure of our insurance business by placing reinsurance into run-off. That decision enables the team to focus more clearly on the core underwriting activities where we have distinct strengths." The following table presents the Company's summary financial data, by engine, for the quarters and six months ended June 30, 2025 and Ended June 30, Six Months Ended June 30, (dollars in thousands, except per share amounts) 2025202420252024 Operating revenues:Insurance $ 2,232,067$ 2,148,268$ 4,419,880$ 4,333,986 Investments:Net investment income 228,126220,454463,727437,658 Net investment gains (losses) 580,223(130,017)431,152772,264 Other 14,0649,3579,45430,203 Total Investments 822,41399,794904,3331,240,125 Markel Ventures 1,548,2861,453,7812,677,6582,594,387 Total operating revenues $ 4,602,766$ 3,701,843$ 8,001,871$ 8,168,498 Operating income:Insurance (1) $ 128,412$ 176,925$ 273,448$ 312,750 Investments:Net investment income 228,126220,454463,727437,658 Net investment gains (losses) 580,223(130,017)431,152772,264 Other 14,0649,3579,45430,203 Total Investments 822,41399,794904,3331,240,125 Markel Ventures 207,728177,498310,238281,413 Consolidated segment operating income (2) 1,158,553454,2171,488,0191,834,288 Amortization of acquired intangible assets (51,213)(44,237)(98,155)(88,522) Total operating income $ 1,107,340$ 409,980$ 1,389,864$ 1,745,766 Comprehensive income to shareholders $ 867,511$ 244,356$ 1,215,181$ 1,152,741 Diluted net income per common share $ 49.67$ 18.62$ 61.60$ 94.24 Markel Insurance combined ratio 96.9 %93.8 %96.5 %94.5 % (1) See "Supplemental Financial Information" for the components of our Insurance engine operating income. (2) See "Non-GAAP Financial Measures" for additional information on this non-GAAP measure. Highlights of results from the quarter and six months: The changes in operating revenues and operating income for both the quarter and six months ended June 30, 2025 were largely driven by market value movements within our equity portfolio. Generally accepted accounting principles (GAAP) require that we include unrealized gains and losses on equity securities in net income. This may lead to short-term volatility in revenues and operating income that temporarily obscures our underlying operating performance. Net investment income increased 3% and 6% for the quarter and six months ended June 30, 2025, respectively, reflecting a higher yield and higher average holdings of fixed maturity securities in 2025. Markel Ventures operating revenues and operating income for the quarter and six months ended June 30, 2025 increased, reflecting contributions from the acquisitions of Valor and EPI, as well as improved performance at our construction services businesses. The increase in Markel Insurance's combined ratio for the quarter ended June 30, 2025 was primarily driven by adverse development in 2025 on our run-off risk-managed directors and officers product lines and on the Global Reinsurance division, which we announced is being placed into run-off. This adverse development in the second quarter of 2025 resulted in less overall net favorable development on prior accident years loss reserves in the second quarter of 2025 compared to the second quarter of 2024. Underwriting results for the first half of 2025 included $60.9 million of net losses and loss adjustment expenses, or one-and-a-half points on the Markel Insurance combined ratio, attributed to the January 2025 wildfires in southern California (California Wildfires) compared to no catastrophe losses in the first half of 2024. Excluding losses attributed to the California Wildfires, the Markel Insurance combined ratio in the first half of 2025 was consistent with the same period of 2024. We believe our financial performance is most meaningfully measured over longer periods of time, which tends to mitigate the effects of short-term volatility and also aligns with the long-term perspective we apply to operating our businesses and making investment decisions. The following table presents a long-term view of our Months Ended June 30, Years Ended December 31, (dollars in thousands) 20252024202320222021 Operating income (loss):Insurance (1) $ 273,448$ 601,002$ 348,145$ 928,709$ 718,800 Investments (2) 904,3332,772,9502,241,419(1,167,548)2,353,124 Markel Ventures 310,238520,082519,878404,281330,120 Consolidated segment operating income (3) 1,488,0193,894,0343,109,442165,4423,402,044 Amortization and impairment (98,155)(181,472)(180,614)(258,778)(160,539) Total operating income (loss) $ 1,389,864$ 3,712,562$ 2,928,828$ (93,336)$ 3,241,505 Net investment gains (losses) (2) $ 431,152$ 1,807,219$ 1,524,054$ (1,595,733)$ 1,978,534 Compound annual growth rate in closing stock price per share from December 31, 2020 to June 30, 2025 16 % (1) See "Supplemental Financial Information" for the components of our Insurance engine operating income. (2) Investments engine operating income includes net investment gains (losses), which are primarily comprised of unrealized gains and losses on equity securities. (3) See "Non-GAAP Financial Measures" for additional information on this non-GAAP measure. ******** A copy of our Form 10-Q is available on our website at under Investor Relations-Financials, or on the SEC website at Readers are urged to review the Form 10-Q for a more complete discussion of our financial performance. Our quarterly conference call, which will involve discussion of our financial results and business developments and may include forward-looking information, will be held Thursday, July 31, 2025, beginning at 9:30 a.m. (Eastern Time). Investors, analysts and the general public may listen to the call via live webcast at The call may be accessed telephonically by dialing (888) 660-9916 in the U.S., or (646) 960-0452 internationally, and providing Conference ID: 4614568. A replay of the call will be available on our website approximately one hour after the conclusion of the call. Any person needing additional information can contact Markel Group's Investor Relations Department at IR@ Supplemental Financial InformationThe following table presents the components of our Insurance engine operating Ended June 30, Six Months Ended June 30, Years Ended December 31, (dollars in thousands) 20252024202520242024202320222021 Markel Insurance segment $ 60,337$ 123,896$ 136,619$ 218,624$ 374,223$ 101,432$ 600,087$ 603,450 Other insurance operations 68,07553,029136,82994,126226,779246,713328,622115,350 Insurance $ 128,412$ 176,925$ 273,448$ 312,750$ 601,002$ 348,145$ 928,709$ 718,800 Non-GAAP Financial MeasuresConsolidated segment operating income is a non-GAAP financial measure as it represents the total of the segment operating income from each of our operating segments and excludes items included in operating income. Consolidated segment operating income excludes amortization of acquired intangible assets and goodwill impairments arising from purchase accounting as they do not represent costs of operating the underlying businesses. The following table reconciles operating income to consolidated segment operating Ended June 30, Six Months Ended June 30, Years Ended December 31, (dollars in thousands) 20252024202520242024202320222021 Operating income (loss) $ 1,107,340$ 409,980$ 1,389,864$ 1,745,766$ 3,712,562$ 2,928,828$ (93,336)$ 3,241,505 Amortization of acquired intangible assets 51,21344,23798,15588,522181,472180,614178,778160,539 Impairment of goodwill ——————80,000— Consolidated segment operating income $ 1,158,553$ 454,217$ 1,488,019$ 1,834,288$ 3,894,034$ 3,109,442$ 165,442$ 3,402,044 About Markel GroupMarkel Group Inc. is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the Markel Insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group's durability and adaptability. It's a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit to learn more. Cautionary StatementCertain of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Statements that are not historical facts, including statements about our beliefs, plans or expectations, are forward-looking statements. These statements are based on our current plans, estimates and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Additional factors that could cause actual results to differ from those predicted are set forth in our Annual Report on Form 10-K for the year ended December 31, 2024, including under "Business Overview," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Safe Harbor and Cautionary Statement," and "Quantitative and Qualitative Disclosures About Market Risk," and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, including under "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Safe Harbor and Cautionary Statement," "Quantitative and Qualitative Disclosures About Market Risk," and "Risk Factors." We assume no obligation to update this release (including any forward-looking statements) as a result of new information, developments, or otherwise. This release speaks only as of the date issued. 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Yahoo
23 minutes ago
- Yahoo
Trump ‘seriously considering' pardon for Diddy ahead of sentencing
President Trump is reportedly considering granting a pardon to Sean 'Diddy' Combs after an official decision has been made on his latest $50 million bail petition. An administration source told Deadline the president is 'seriously' weighing a pardon for the hip-hop mogul ahead of his sentencing in October. Combs' legal team filed yet another bail package proposal on Tuesday, arguing that most people convicted under the federal Mann Act — an anti-sex trafficking law with a century-old history — are released from jail pending their sentencing. Sources told TMZ on Wednesday that Trump is 'more than open' to pardoning the disgraced music mogul, but only based on Judge Arun Subramanian's ruling on the bail petition. If Diddy is granted bail, Trump will reportedly wait to decide on a pardon until his sentencing, which is scheduled for Oct. 3. However, if the judge denies bail, a decision will be made immediately. The Bad Boy Records founder was acquitted earlier this month of the sex trafficking and racketeering charges against him but convicted on prostitution-related offenses, including two counts of violating the Mann Act, which is primarily used for prosecuting interstate prostitution crimes. Sources say that Combs' case resonates with Trump because he believes the rapper, much like himself, has been unfairly targeted by the feds. Combs and Trump have a history of running in the same circles in New York City before the president's political pursuits. In a 2012 episode of 'The Apprentice,' Trump described Combs as a 'good friend.' The president first teased the possibility of pardoning Combs in May, saying he hadn't officially been asked by anyone on Diddy's legal team, though he knows 'people are thinking about it.' 'I would certainly look at the facts if I think somebody was mistreated, whether they like me or don't like me,' Trump said at the time, acknowledging that his fellow New York native 'used to really like me a lot' prior to him entering politics. 'I haven't spoken to him in years,' Trump said. 'I think when I ran for politics that relationship sort of busted up. He didn't tell me that, but I read some little bit nasty stuff in the paper.' Combs is facing a maximum of 20 years in prison. _____
Yahoo
23 minutes ago
- Yahoo
StoneX Group Inc. to Announce 2025 Fiscal Third Quarter Earnings on August 5, 2025
Conference call to follow on August 6, 2025 at 9:00am ET NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (NASDAQ: SNEX) today announced that it will release its fiscal 2025 third quarter results after the market close on Tuesday, August 5, 2025. Management will host a conference call on Wednesday, August 6, 2025 at 9:00 a.m. Eastern Time to review the Company's 2025 fiscal third quarter results. A live web cast of the conference call as well as additional information to review during the call will be made available in PDF form at Participants can also access the call via approximately ten minutes prior to the start time. Participants may preregister for the conference call here. For those who cannot access the live broadcast, a replay of the call will be available at About StoneX Group Inc. StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 self-directed/retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at CONTACT: StoneX Group Inc. Investor Inquiries: Kevin Murphy(212) 403 - 7296 SNEX-GError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
