Part 3/8:
One point of concern among shareholders is how extensive the regulatory inquiry is. Jason Moser, an investment analyst, stressed that the inquiry is limited to Markel’s CATCo segment, which focuses on 'retrocession'—essentially insurance for reinsurers—rather than affecting the entirety of the Markel business. The CATCo business, acquired for approximately $210 million, represented a relatively small fraction of Markel’s overall revenue. In 2017, CATCo revenues amounted to only $28.7 million, in stark contrast to Markel's total trailing revenue of around $7.5 billion.