Alex Scott's questions to BERKLEY W R (WRB) leadership • Q3 2025
Question
Alex Scott asked about W. R. Berkley's capital position, including plans for additional capital flexibility and the pecking order for capital return, given observed restraint in growth.
Answer
Rob Berkley (President and CEO) indicated significant excess capital (10 digits headroom by rating agency models) and faster capital generation than consumption. He noted the company is open to returning capital to shareholders via dividends and repurchases. William Berkley (Executive Chairman) added that they are patient with stock buybacks, waiting for opportune times, and use special dividends to acknowledge shareholders, while keeping capital available for future opportunities.