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Ellicott Dredges’ Parent Releases 2016 Financial Results

Posted on April 25, 2017

Markel Corp (NYSE: MKL), parent of Ellicott Dredge Enterprises, has released its annual report for 2016. Within Markel, Ellicott is a part of the “Markel Ventures” entity, whose sales rose 16% to over US$1.2Billion.

Markel had another very good year, with consolidated revenues rising to US$5.6Billion.

As reported by Markel:


– Book value per share increased to $606.30, representing an 11% compound annual growth rate over a five-year period

– Combined ratio of 92%, including two points of catastrophe losses and two points of adverse development on our medical product lines

– Total operating revenues exceeded $5.6 billion

– Revenues from Markel Ventures increased 16% to $1.2 billion

– Strong investment performance with an increase in net unrealized gains on investments of over $340 million

– Celebrated 30 years as a public company with a compound annual growth rate in book value per share of 19% since our public offering

– Moved into the Fortune 500 Excerpt from management letter:

“Markel Ventures enjoyed a spectacular year.

In 2016, revenues grew to $1.2 billion from $1.0 billion, an increase of 16%, and EBITDA increased to $165.1 million compared to $91.3 million, an increase of 81%.

To provide a similar longer term context for these results consider that 5 short years ago the revenues totaled $317.5 million and EBITDA that year stood at $37.3 million.”

When DredgeWire contacted Ellicott and Markel for more information about Ellicott, sources declined saying that Markel does not provide further breakdown beyond that already given.

The full 162 page annual report can be found at this link. . 


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