Markel Corporation MKL incurred fourth-quarter 2018 loss of $53.88 per share against the year-ago quarter’s income of $30.39.Though the company witnessed higher revenues and improved premiums at the Insurance and Reinsurance segments, an increase in expenses was a bane.Operational UpdateTotal operating revenues of $1.9 billion exceeded the Zacks Consensus Estimate by 0.3%. Also, the top line rose 13.4% year over year on higher premiums, investment income, product and services plus other revenues.Total operating expenses of Markel surged 33.1% year over year to $1.9 billion.Markel’s combined ratio deteriorated 1300 basis points (bps) year over year to 108% in the reported quarter.Full-Year HighlightsFor 2018, Markel suffered loss of $9.55 per share against the year-ago quarter’s income of $25.81.Moreover, total operating revenues of $7.3 billion trumped the consensus mark by 1.3% and also improved nearly 20% year over year.Markel Corporation Price, Consensus and EPS Surprise Markel Corporation Price, Consensus and EPS Surprise | Markel Corporation QuoteSegment UpdateInsurance: Net written premiums were up 14.8% year over year to $968.9 million in the quarter under review.Underwriting profit came in at $9.5 million that plummeted 91.1% from the year-ago quarter.Combined ratio deteriorated 1100 bps year over year to 99% in the quarter under discussion.Reinsurance: Net written premiums rose 11.1% year over year to $87.1 million.Underwriting loss of $115.3 million was significantly wider than the year-ago quarter’s loss of $49.3 million.Combined ratio deteriorated 2900 bps year over year to 151% in the fourth quarter.Financial UpdateMarkel exited the fourth quarter with investments, cash and cash equivalents plus restricted cash and cash equivalents of 19.2 billion, down 6.5% from the level at year-end 2017.Debt balance dipped 2.9% to $3 billion as of Dec 31, 2018 from $3.1 billion at 2017 end.Book value per share declined 4.3% from the tally at year-end 2017 to $653.85 as of Dec 31, 2018.Net cash from operating activities for the year ended Dec 31, 2018 was $892.9 million, up 4% from that of 2017.Zacks RankMarkel carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other InsurersAmong other players from the insurance industry having reported fourth-quarter earnings so far, the bottom lines of MGIC Investment Corporation MTG and The Travelers Companies, Inc. TRV topped the respective Zacks Consensus Estimate while The Progressive Corporation’s PGR metric lagged the same.Will You Make a Fortune on the Shift to Electric Cars?Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.It's not the one you think.See This Ticker Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MGIC Investment Corporation (MTG): Free Stock Analysis Report Markel Corporation (MKL): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis Report The Travelers Companies, Inc. (TRV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research