• Markel Group average debt/equity ratio for 2023 was 0.27, a 18.18% decline from 2022.
• Markel Group average debt/equity ratio for 2022 was 0.33, a 13.79% decline from 2021.
• Markel Group average debt/equity ratio for 2021 was 0.29, a 6.45% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.