
Welcome to the Anxiety Economy, where safety sells and streaming is optional
According to a newly released Life360 survey of 1,000 U.S. adults, heavy financial burdens are being felt by the majority of Americans. The survey found that a staggering 71% of Americans now feel economically vulnerable with 64% admitting their anxiety has increased since the start of 2025. Likewise, the top three words respondents chose to describe their emotions in 2025 were ones with negative connotations: stressful, nervous, and crazy.
Americans are cutting back—but not when it comes to peace of mind
Unsurprisingly, Americans are coping by spending less. 56% say they've cut back on dining or takeout, 47% have trimmed their online shopping habits, and 45% are vacationing less often. However, spending isn't down across the board. In fact, in one category, it's going up: safety and security (like emergency alert tools, home security, and digital protections). The category was the only one where respondents were investing more than they were cutting. 21% of respondents said they were investing more in these tools, with only 20% pulling back.
'In moments of elevated economic uncertainty, the premium on security increases: Investors seek safe assets, businesses prioritize safe investments, and families double down on peace of mind,' Life360 economist Aaron Terrazas said in a blog post on the report. But, interestingly, it's the younger generations who seem to be the most concerned with safety and security in modern times. While Gen X and Baby Boomers ranked health and wellness as their biggest priorities in terms of spending, Millennials and Gen Zers said safety and security were the most important.
Fear, uncertainty, and financial strain
Terrazas says those habits are likely shaped by the groups' 'formative economic experiences', and pointed to 'pandemic-era uncertainty' as hitting the younger generations especially hard. Terrazas told Fast Company, 'Just like their grandparents and great-grandparents who came of age during the Great Depression and World War II, Gen Z and Millennials came of age in a fractious moment in world history. For young Americans who entered adulthood during the years from 9/11 to the Great Recession to the Covid-19 Pandemic, it's natural that safety and security would rank high on their priorities, and those priorities are likely to remain top of mind as they move deeper into adulthood.'
Therefore, it makes sense that while there are plenty of things Americans are scrapping, tools that make people feel safer are not one of them. In fact, 40% of parents said safety and emergency alert apps were 'non-negotiable,' which was the highest of all the categories. 55% of parents, and 43% of respondents overall, said they'd fight to keep safety and security subscriptions. Terrazas noted that the survey included 'a mix of safety and security tools, including Life360, Citizen, Ring, ADT+ — apps that offer everything from real-time location sharing to emergency alerts and home security' pressing that these kinds of tools 'help people feel safer, more in control, and more connected in an unpredictable world.'
That means that, for many, even as shopping, dining, vacations, and even streaming services take a backseat, the feeling of safety and security is of greater concern than ever. 'As people are increasingly anxious, whether about their finances or physical safety, tools that provide 'peace of mind' are something people find indispensable,' Terrazas said.
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Boston Globe
a few seconds ago
- Boston Globe
Shoppers are stressed, but some brands are raising prices anyway
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CBS News
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- CBS News
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29 minutes ago
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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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