Markel Corporation MKL reported first-quarter 2020 loss of $100.60 per share against prior-year quarter’s earnings of $42.76 per share.The company witnessed soft performance of Insurance and Reinsurance Segments as well as higher operating expenses.Markel Corporation Price, Consensus and EPS Surprise Markel Corporation price-consensus-eps-surprise-chart | Markel Corporation QuoteOperational UpdateTotal operating revenues of $2 billion missed the Zacks Consensus Estimate by 0.2%. However, the top line rose 8.4% year over year on higher premiums, product and services plus other revenues.Total operating expenses of Markel increased 27.6% year over year to $2.1 billion primarily due to higher losses and loss adjustment expenses, underwriting, acquisition and insurance expenses as well as services and other expenses.Markel’s combined ratio deteriorated 2300 basis points (bps) year over year to 118% in the reported quarter.Segment UpdateInsurance: Net written premiums were up 19.8% year over year to $1.2 billion in the quarter under review.Underwriting loss came in at $206 million compared to underwriting profit of $52 million in the year-ago quarter.Combined ratio deteriorated 2400 bps year over year to 119% in the quarter under discussion.Reinsurance: Net written premiums declined 5.5% year over year to $452.7 million.Underwriting loss was $33.9 million compared to underwriting profit of $3.4 million.Combined ratio deteriorated 1600 bps year over year to 115% in the first quarter.Markel Ventures: Profit of $41.8 million increased 39.6% year over year.Financial UpdateMarkel exited the first quarter with investments, cash and cash equivalents of $3.8 billion, up 24.8% from the level at year-end 2019.Debt balance increased 1.7% to $3.6 billion as of Mar 31, 2020 from 2019 end.Book value per share decreased 12% from year-end 2019 to $705.68 as of Mar 31, 2020.Net cash from operating activities was $65.7 million, up 250% year over year.Zacks RankMarkel currently 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 insurance industry players who have reported first-quarter earnings so far, the bottom line of The Progressive Corporation PGR and The Travelers Companies, Inc. TRV missed the Zacks Consensus Estimate, while that of Globe Life Inc. GL matched the same.Zacks Top 10 Stocks for 2020In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.Access Zacks Top 10 Stocks for 2020 today >>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 The Travelers Companies, Inc. (TRV): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis Report Markel Corporation (MKL): Free Stock Analysis Report Globe Life Inc. (GL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research