Earnings summaries and quarterly performance for BERKLEY W R.
Executive leadership at BERKLEY W R.
W. Robert Berkley, Jr.
Detailed
President and Chief Executive Officer
CEO
WR
William R. Berkley
Detailed
Executive Chairman
JG
James G. Shiel
Executive Vice President — Investments
LT
Lucille T. Sgaglione
Executive Vice President
PS
Philip S. Welt
Executive Vice President — Secretary
RM
Richard M. Baio
Executive Vice President — Chief Financial Officer
Board of directors at BERKLEY W R.
Research analysts who have asked questions during BERKLEY W R earnings calls.
AK
Andrew Kligerman
TD Cowen
7 questions for WRB
Also covers: ABL, ACGL, AJG +21 more
Brian Meredith
UBS
7 questions for WRB
Also covers: ACGL, AIG, AIZ +17 more
David Motemaden
Evercore ISI
7 questions for WRB
Also covers: ACGL, AJG, ALL +16 more
EG
Elyse Greenspan
Wells Fargo
7 questions for WRB
Also covers: ACGL, AFL, AHL +30 more
MH
Mark Hughes
Truist Securities
7 questions for WRB
Also covers: AIZ, AJG, AMBC +41 more
Michael Zaremski
BMO Capital Markets
7 questions for WRB
Also covers: ACGL, AFG, AIG +25 more
Alex Scott
Barclays PLC
6 questions for WRB
Also covers: ACGL, AFL, AIG +29 more
Meyer Shields
Keefe, Bruyette & Woods
6 questions for WRB
Also covers: ACGL, AFG, AIG +24 more
Andrew Andersen
Jefferies
5 questions for WRB
Also covers: ACGL, AFG, AHL +19 more
Ryan Tunis
Cantor Fitzgerald
5 questions for WRB
Also covers: ACGL, AJG, CB +8 more
WC
Wesley Carmichael
Autonomous Research
5 questions for WRB
Also covers: ACGL, AFL, BHF +16 more
Josh Shanker
Bank of America
4 questions for WRB
Also covers: ACGL, ALL, AXS +11 more
RC
Robert Cox
The Goldman Sachs Group, Inc.
4 questions for WRB
Also covers: AHL, AIG, AJG +12 more
JH
Jian Huang
Morgan Stanley
3 questions for WRB
Also covers: AIZ, ALL, BOW +10 more
Joshua Shanker
Bank of America Merrill Lynch
3 questions for WRB
Also covers: ACGL, AFL, ALL +13 more
JI
James Inglis
Philo Smith & Co.
2 questions for WRB
Also covers: RLI
RC
Rob Cox
Goldman Sachs
2 questions for WRB
Also covers: ACGL, AJG, BRO +4 more
TB
Tracy Benguigui
Wolfe Research
2 questions for WRB
Also covers: ACGL, EG, PGR +3 more
KS
Katie Sakys
Autonomous Research
1 question for WRB
Also covers: AJG, EG, GSHD +5 more
YK
Yaron Kinar
Oppenheimer & Co. Inc.
1 question for WRB
Also covers: ACGL, ALL, AXS +9 more
Recent press releases and 8-K filings for WRB.
W.R. Berkley discusses strategy at Goldman Sachs 2025 U.S. Financial Services Conference
WRB
M&A
Share Buyback
Dividends
- MSI is acquiring a 15% stake in W.R. Berkley through a purchase of existing shares, with no new shares issued and management retaining their holdings.
- The company remains focused on specialty insurance via 60 independently managed underwriting units, targeting risk-adjusted returns and disciplined underwriting discipline.
- Insurance-cycle commentary: product lines are now decoupled—commercial property is softening, while casualty lines are firming as insurers catch up with loss-cost and social inflation trends.
- Capital deployment: W.R. Berkley expects to sustain high-teens ROE and will return excess capital through share buybacks and special dividends, while maintaining a cautious approach to M&A.
Dec 9, 2025, 8:00 PM
W.R. Berkley outlines specialty insurance strategy at 2025 Goldman Sachs conference
WRB
Guidance Update
M&A
New Projects/Investments
- MSI, a major Japanese insurer, is acquiring a 12.5%–15% stake in W.R. Berkley with no new shares issued and no insider sell-down.
- The company operates 60 independently managed underwriting units, each focused on specialized niche products to drive risk-adjusted returns.
- Market dynamics show a decoupling of product lines, with property softening and liability firming; casualty loss trends remain elevated due to economic and social inflation, prompting continued rate increases.
- Capital allocation priorities include organic growth, share repurchases, and special dividends; management remains cautious on M&A, favoring in-house builds over acquisitions.
- W.R. Berkley expects to sustain high-teens ROE, balancing underwriting discipline with net investment income from new money yields above the book yield.
Dec 9, 2025, 8:00 PM
W. R. Berkley reports Mitsui Sumitomo acquires 12.5% stake
WRB
M&A
New Projects/Investments
- On December 5, 2025, W. R. Berkley Corporation announced that Mitsui Sumitomo Insurance Co. acquired beneficial ownership of at least 12.5% of its common stock under agreements with the Berkley family.
- MSI’s shares were not purchased from the Company or the Berkley family and will be voted per the Berkley Family’s recommendations, except in limited circumstances where they vote proportionally with all other non-MSI shares.
- MSI expects to complete its investment in Q1 2026 under the existing agreements.
Dec 5, 2025, 2:17 PM
W. R. Berkley reports Q3 2025 results
WRB
Earnings
Dividends
Share Buyback
- Third quarter net income was $511 million or $1.28 per share, delivering a 24.3% return on beginning-of-year equity (operating ROE 21%) and underwriting pre-tax income up 8.2% to $287 million, with a combined ratio of 90.9% (ex-cats 88.4%)
- Record net premiums earned exceeded $3.2 billion and net premiums written totaled $3.8 billion, supporting an expense ratio of 28.5% and current accident year loss ratio ex-cats of 59.9%
- Net investment income grew 9.4% to $351 million, while fixed maturities yielded 4.8% with a duration of 2.9 years; liquidity stood at $2.4 billion
- Stockholders’ equity reached $9.8 billion, up 16.7% YTD; YTD capital returned was $362 million via dividends and share repurchases; book value per share grew 20.7% YTD and financial leverage fell to 22.5%
- Management noted ongoing industry cyclicality with pressure on property CAT pricing, emphasizing specialty and small-account underwriting plus selective growth in homeowners (Berkley One) and accident & health
Oct 20, 2025, 9:00 PM
W. R. Berkley reports Q3 2025 results
WRB
Earnings
Dividends
Share Buyback
- Net income of $511 million ($1.28/share), up ~40% YoY; operating income rose 12% to $440 million ($1.10/share) with a 21% return on beginning-of-year equity.
- Pretax underwriting income increased 8.2% to $287 million; combined ratio of 90.9% and accident-year ex-cat ratio of 88.4%.
- Record net premiums written of $3.8 billion and earned of $3.2 billion, with growth across all lines.
- Net investment income grew to $351 million (9.4% increase); fixed-maturity portfolio yield of 4.8% and duration of 2.9 years.
- Stockholders’ equity reached $9.8 billion (up 16.7% YTD); book value per share up 20.7% YTD; returned $362 million via dividends and share repurchases; leverage at historic low of 22.5%.
Oct 20, 2025, 9:00 PM
W. R. Berkley reports Q3 2025 earnings
WRB
Earnings
- Net income rose 39.8% to $511.0 million, with a 24.3% return on equity and 21.0% operating ROE.
- Premium growth: gross premiums written of $3.84 billion and net premiums written of $3.23 billion, delivering a GAAP combined ratio of 90.9%.
- Investment performance: net investment income of $351.2 million, driven by a 9.4% increase in the core portfolio.
- Capital strength: book value per share rose 5.8% to $25.79, underpinning record common equity of $9.8 billion as of September 30, 2025.
Oct 20, 2025, 8:15 PM
Berkley reports Q3 2025 results
WRB
Earnings
- Net income increased 39.8% to $511.0 million in Q3 2025.
- Return on equity was 24.3% and operating ROE 21.0% for the quarter.
- Gross premiums written rose to $3.8 billion and net premiums written to $3.2 billion.
- Combined ratio was 90.9%, driven by current accident year catastrophe losses of $78.5 million.
- Net investment income totaled $351.2 million, supported by a 9.4% increase in the core portfolio.
Oct 20, 2025, 8:10 PM
W. R. Berkley launches Berkley Edge insurance unit
WRB
Product Launch
Management Change
Hiring
- W. R. Berkley has created Berkley Edge, a dedicated unit offering professional liability and casualty coverage for small and mid-sized enterprises with hard-to-place risks.
- The new business will distribute exclusively through wholesale brokers to address complex risk profiles.
- Industry veteran Jamie Secor—with over 25 years’ underwriting experience at State Farm, James River, Kinsale Insurance, and Hamilton Insurance Group—has been named president of Berkley Edge.
- This initiative aligns with W. R. Berkley’s strategy to expand its specialty insurance offerings in the excess and surplus lines market.
- In Q2 2025, the company reported net income of $401.28 million (up 8% YoY) and revenue of $3.67 billion.
Aug 19, 2025, 1:39 PM
W. R. Berkley reports Q2 2025 results
WRB
Earnings
Dividends
- W. R. Berkley reported Q2 operating earnings of $420 M (or $1.05 per share), up 8.7% YoY, with a combined ratio of 91.6% and underwriting income of $261 M; accident year combined ratio before catastrophes was 88.4%.
- Net premiums earned reached $3.1 B, net premiums written were a record $3.4 B, and net investment income was $379 M, driven by a 4.7% book yield and new money rates above 5%.
- Stockholders’ equity rose to a record $9.3 B (+4.3%), cash and cash equivalents exceeded $2 B, financial leverage remained low at 23.4%, and the company returned $224 M via ordinary and special dividends, with book value per share growth of 6.8%.
- Management noted growing competition in property (notably from reinsurers and MGAs), stable casualty pricing with selective rate gains, and favorable workers’ compensation trends following California’s 8.7% rate approval.
- The investment portfolio quality remains AA- with duration extended to 2.8 years, positioning the firm for higher investment returns amid rising rates.
Jul 22, 2025, 12:10 AM
W. R. Berkley credit ratings affirmed by AM Best
WRB
- AM Best affirmed W. R. Berkley Corporation’s Long-Term Issuer Credit Rating at a- (Excellent), and the Financial Strength Rating of its insurance subsidiaries at A+ (Superior) with a stable FSR outlook and positive ICR outlook.
- The Berkley Group’s balance sheet strength is anchored by its strongest-level BCAR and a reduction in debt leverage to 19.1% as of year-end 2024.
- AM Best highlighted 10 years of organic GAAP surplus growth and improved financial leverage as drivers of the positive ICR outlook.
- In Q1 2025, Berkley Group achieved net premium growth across most core lines, with a GAAP ROE of 19.9% and an operating ROE of 19.3%.
Jul 3, 2025, 9:32 PM
Quarterly earnings call transcripts for BERKLEY W R.
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