Markel Group Inc.

During the call today, we may make forward-looking statements within the meaning of the private securities litigation reform act of 1995. They are based on current assumptions and opinions concerning a variety of known and unknown risks. Actual results may differ materially from those contained in or suggested by such forward-looking statements. Additional information about factors that could cause actual results to differ materially from those projected in the forward-looking statements is included in the press release for our first quarter 2025 results, as well as our most recent annual report on Form 10-K and quarterly report form on 10-Q, including other captions, safe harbor and questionnaire statement, and risk factor. We may also discuss certain non-GAAP financial measures during the call today. We may find the most directly comparable gap measures and a reconciliation to gap for these measures in the press release for our first quarter 2025 results or in our most recent Form 10-Q. The press release for our first quarter 2025 results as well as our Form 10-K and Form 10-Q can be found on our website at www.mklgroup.com in the Investor Relations section. Please note this event is being recorded. I would now like to turn the conference over to Tom Gaynor, Chief Executive Officer. Please go ahead.

Good morning. Thank you, Janine. This is indeed Tom Gaynor, your CEO. I welcome you to our Markel Group first quarter earnings call. Joining me on the call this morning is Brian Costanzo, our CFO, and Simon Wilson, our new CEO of Markel Insurance. In Markel Group, We aspire to be the best home in the world for our businesses. Markel Group is a diverse and resilient family of businesses with our insurance business at its core. Working together, the system creates a relentless compounding machine. We're happy to tell you that compounding continued in the first quarter. While we're always happy to report a good quarter, longer time horizons matter more. Our normal five-year measurements display the relentless compounding of our aspirations. In the first quarter, we also took a few significant, notable organizational steps of progress on our forever foot race. Specifically, we elevated Simon Wilson to be the new leader of our Markel insurance business. Simon is a proven leader and winner. He has a clear strategic vision for solidifying and growing Markel's market-leading presence in specialty insurance, all while putting the customer first. We're excited for you to get to know him and to hear more about his vision and plan. Under Simon's leadership, our insurance business will continue its path of simplification and growth. We're reducing complexity, making it easier for customers to do business with us, all while improving accountability and increasing our operating efficiency. The re-underwriting of the last two years has created a stronger foundation from which these operational enhancements will build. Under Simon's leadership, I'm confident we can become even easier to do business with and win market share. We see great potential over the years ahead to significantly improve from what's already a strong base of performance. Well, that work is in its early innings.

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