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    W R Berkley Corp (WRB)

    Financials

    Updated Feb 24, 2025, 10:17 PM UTC
    Income Statement - MetricFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Net premiums written (USD, thousands)2,848,460.002,719,668.0010,954,4672,851,2913,126,779.003,057,276.00--
    Change in net unearned premiums (USD, thousands)(206,546.00)(5,054.00)(553,780)(86,944)(280,364.00)(130,453.00)--
    Net premiums earned (USD, thousands)2,641,914.002,714,614.0010,400,6872,764,3472,846,415.002,926,823.00--
    Net investment income (USD, thousands)270,943.00313,341.001,052,835319,839372,128.00323,756.00--
    Net realized and unrealized gains (losses) on investments (USD, thousands)(40,855.00)(2,863.00)47,54011,503(60,306.00)(23,362.00)--
    Change in allowance for expected credit losses on investments (USD, thousands)(1,570.00)10,666.00(498)14,2771,793.0015,277.00--
    Net investment gains (losses) (USD, thousands)(42,425.00)7,803.0047,04225,780(58,513.00)(8,085.00)--
    Revenues from non-insurance businesses (USD, thousands)137,115.00160,283.00535,508120,992125,704.00128,611.00--
    Insurance service fees (USD, thousands)22,962.0025,195.00106,48525,31927,598.0028,666.00--
    Other income (USD, thousands)22.00253.00381496700.00608,932.00--
    Total revenues (USD, thousands)3,030,638.003,221,382.0012,142,9383,256,7733,314,032.003,400,379.00--
    Losses and loss expenses (USD, thousands)1,636,193.001,627,540.006,372,1421,663,7781,780,596.001,825,960.00--
    Other operating costs and expenses (USD, thousands)808,670.00906,011.003,363,936868,589892,935.00943,366.00--
    Expenses from non-insurance businesses (USD, thousands)133,938.00154,754.00524,998118,607121,120.00124,885.00--
    Interest expense (USD, thousands)31,888.0031,879.00127,45931,72831,708.0031,720.00--
    Total operating costs and expenses (USD, thousands)2,610,689.002,720,184.0010,388,5352,682,7022,826,359.002,925,931.00--
    Income before income taxes (USD, thousands)419,949.00501,198.001,754,403574,071487,673.00474,448.00--
    Income tax expense (USD, thousands)(86,519.00)(102,235.00)(370,557)(132,036)(115,788.00)(109,134.00)--
    Net income before noncontrolling interests (USD, thousands)333,430.00398,963.001,383,846442,035371,885.00365,314.00--
    Noncontrolling interests (USD, thousands)156.00(1,624.00)(2,487)43624.00(140.00)--
    Net income to common stockholders (USD, thousands)333,586.00397,339.001,381,359442,471371,909.00365,634.00--
    Net income per share - Basic (USD)1.241.485.101.650.380.92--
    Net income per share - Diluted (USD)1.231.465.051.640.370.91--
    Balance Sheet - MetricFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Fixed maturity securities (USD, thousands)19,035,30520,178,30820,178,30820,964,85421,082,67622,663,878--
    Investment funds (USD, thousands)1,600,4951,621,6551,621,6551,555,8181,589,1191,607,381--
    Real estate (USD, thousands)1,270,5451,249,8741,249,8741,273,0631,279,3061,297,314--
    Equity securities (USD, thousands)1,182,0611,090,3471,090,3471,178,0481,078,0921,048,126--
    Arbitrage trading account (USD, thousands)825,049938,049938,0491,146,1191,221,861820,928--
    Loans receivable (USD, thousands)177,750201,271201,271228,766349,325389,869--
    Total investments (USD, thousands)24,091,20525,279,50425,279,50426,346,66826,600,37927,827,496--
    Cash and cash equivalents (USD, thousands)1,646,0741,363,1951,363,1951,169,0531,580,2701,573,238--
    Premiums and fees receivable (USD, thousands)3,104,6093,109,3343,109,3343,171,1083,430,9913,414,385--
    Due from reinsurers (USD, thousands)3,426,1963,534,5273,534,5273,510,0973,501,8923,478,354--
    Deferred policy acquisition costs (USD, thousands)854,374861,609861,609888,719939,453957,997--
    Prepaid reinsurance premiums (USD, thousands)756,236758,927758,927757,659814,858830,797--
    Trading account receivables from brokers and clearing organizations (USD, thousands)401,982303,614303,614141,27740,705410,756--
    Property, furniture and equipment (USD, thousands)423,279426,803426,803466,855477,034478,361--
    Goodwill (USD, thousands)174,597174,597174,597174,597184,089184,089--
    Accrued investment income (USD, thousands)201,206213,408213,408217,801225,214234,084--
    Current and deferred federal and foreign income taxes (USD, thousands)291,363220,756220,756120,754220,080131,209--
    Other assets (USD, thousands)740,227865,556865,556886,484894,954838,532--
    Total assets (USD, thousands)36,111,34837,111,83037,111,83037,851,07238,909,91940,359,298--
    Reserves for losses and loss expenses (USD, thousands)18,273,31018,739,65218,739,65219,099,62819,567,19020,155,310--
    Unearned premiums (USD, thousands)5,899,7385,922,3265,922,3265,996,8126,332,6996,489,597--
    Due to reinsurers (USD, thousands)626,448631,164631,164683,508730,407727,074--
    Trading account securities sold but not yet purchased (USD, thousands)7,5389,3579,35740,29881,27336,093--
    Other liabilities (USD, thousands)1,537,4491,503,0531,503,0531,395,0481,573,4281,674,405--
    Senior notes and other debt (USD, thousands)1,828,0461,827,9511,827,9511,827,9971,828,4221,827,788--
    Subordinated debentures (USD, thousands)1,008,9101,009,0901,009,0901,009,2691,009,4491,009,629--
    Total liabilities (USD, thousands)29,181,43929,642,59329,642,59330,052,56031,122,86831,919,896--
    Common stock (USD, thousands)105,803105,803105,803105,803158,705158,705--
    Additional paid-in capital (USD, thousands)1,008,3011,017,6911,017,6911,030,475986,892973,032--
    Retained earnings (USD, thousands)10,800,69711,040,90811,040,90811,455,15811,669,56711,909,408--
    Accumulated other comprehensive loss (USD, thousands)(1,322,819)(925,838)(925,838)(1,023,530)(1,033,640)(603,144)--
    Treasury stock, at cost (USD, thousands)(3,676,403)(3,783,133)(3,783,133)(3,783,074)(4,007,742)(4,011,737)--
    Total stockholders’ equity (USD, thousands)6,915,5797,455,4317,455,4317,784,8327,773,7828,426,264--
    Noncontrolling interests (USD, thousands)14,33013,80613,80613,68013,26913,138--
    Total equity (USD, thousands)6,929,9097,469,2377,469,2377,798,5127,787,0518,439,402--
    Total liabilities and equity (USD, thousands)36,111,34837,111,83037,111,83037,851,07238,909,91940,359,298--
    Current federal and foreign income taxes (USD, thousands)-1,3181,318-----
    Deferred federal and foreign income taxes (USD, thousands)-309,623309,623-----
    Trading account receivable from brokers and clearing organizations (USD, thousands)-233,863233,863-----
    Total common stockholders’ equity (USD, thousands)-7,455,4317,455,431-----
    Cash Flow - MetricFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Net income to common stockholders (USD, thousands)333,586.00397,339.001,381,359442,471371,909.00365,634.00--
    Net investment losses (gains) (USD, thousands)42,425.00(7,803.00)(47,042)(25,780)58,513.008,085.00--
    Depreciation and (accretion) amortization (USD, thousands)(3,606.00)(24,155.00)(20,861)(80,784)(64,278.00)(11,931.00)--
    Income taxes (USD, thousands)55,425.002,729.0052,451120,052(92,353.00)(10,874.00)--
    Other - operating activities (USD, thousands)111,981.0042,252.0014,462(200,219)70,477.00190,983.00--
    Net cash from operating activities (USD, thousands)1,077,093.00698,076.002,929,238746,235881,330.001,240,770.00--
    Proceeds from sale of fixed maturity securities (USD, thousands)253,133.00134,176.001,011,195426,084663,099.00599,440.00--
    Proceeds from sale of equity securities (USD, thousands)63,554.00157,382.00318,85283,987169,511.0034,868.00--
    Distributions from investment funds (USD, thousands)(4,578.00)(28,289.00)(19,904)31,238(10,227.00)(5,478.00)--
    Proceeds from maturities and prepayments of fixed maturity securities (USD, thousands)829,321.00852,763.003,506,903968,3301,165,445.001,349,551.00--
    Purchase of fixed maturity securities (USD, thousands)(2,258,399.00)(1,572,897.00)(6,664,763)(2,266,087)(1,937,453.00)(2,973,839.00)--
    Purchase of equity securities (USD, thousands)(1,330.00)(16,639.00)(80,454)(105,599)(74,751.00)(6,032.00)--
    Real estate purchased (USD, thousands)(8,109.00)13,084.00(2,074)(30,697)(13,906.00)(22,210.00)--
    Change in loans receivable (USD, thousands)(971.00)(42,515.00)(29,719)(28,150)(120,091.00)(25,307.00)--
    Net purchases of property, furniture and equipment (USD, thousands)(16,407.00)(10,953.00)(53,080)(54,335)(24,133.00)(13,202.00)--
    Change in balances due to security brokers (USD, thousands)(91,752.00)(42,153.00)(33,929)70,12095,310.00(42,911.00)--
    Cash received in connection with business disposition (USD, thousands)0.002,491.0096,567-----
    Other - investing activities (USD, thousands)193.00(11,878.00)(11,558)-----
    Net cash used in investing activities (USD, thousands)(1,235,345.00)(565,428.00)(1,961,964)(905,109)(87,196.00)(1,105,120.00)--
    Repayment of senior notes and other debt (USD, thousands)0.00-------
    Net proceeds from issuance of debt (USD, thousands)940.00(2,074.00)(974)20420,140.00---
    Cash dividends to common stockholders (USD, thousands)0.00(314,535.00)(501,456)(28,220)(157,501.00)(125,793.00)--
    Purchase of common treasury shares (USD, thousands)(2,917.00)(106,627.00)(537,163)--(12,480.00)--
    Other, net - financing activities (USD, thousands)(20,869.00)(2,357.00)(22,902)(1,505)----
    Net cash used in financing activities (USD, thousands)(22,846.00)(423,639.00)(1,062,495)(29,705)(378,416.00)(153,820.00)--
    Net impact on cash due to change in foreign exchange rates (USD, thousands)3,615.008,111.009,070(5,563)(4,501.00)11,138.00--
    Net change in cash and cash equivalents (USD, thousands)(177,484.00)(282,879.00)(86,151)(194,142)411,217.00(7,032.00)--
    Noncontrolling interests (USD, thousands)8632,4872,487(436)(460)(780)--
    Investment funds (USD, thousands)(5,444)(16,743)(16,743)29,3493,873(868)--
    Stock incentive plans (USD, thousands)37,79651,00051,00012,97926,85640,319--
    Arbitrage trading account (USD, thousands)(41,399)(54,213)(54,213)(14,793)51,01336,714--
    Premiums and fees receivable (USD, thousands)(340,056)(334,178)(334,178)(68,133)(332,640)(311,827)--
    Reinsurance accounts (USD, thousands)(194,610)(306,017)(306,017)81,68481,75585,226--
    Deferred policy acquisition costs (USD, thousands)(93,270)(99,387)(99,387)(28,283)(77,772)(94,393)--
    Reserves for losses and loss expenses (USD, thousands)1,288,9751,715,0761,715,076393,176852,5231,402,623--
    Unearned premiums (USD, thousands)608,300617,535617,53584,952422,409569,416--
    Cash and cash equivalents at beginning of period (USD, thousands)1,449,3461,449,3461,449,3461,363,1951,363,1951,363,195--
    Cash and cash equivalents at end of period (USD, thousands)1,646,0741,363,1951,363,1951,169,0531,580,2701,573,238--
    Revenue by Segment - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Insurance2,535.42,625.619,961.1522,653.02,797.72,826.911,808.6911,181.5
    - Earned Premiums322.5--365.6361.8362.338,996.5710,086.3
    - Investment Income7.9--21.910.113.491,012.211,057.7
    - Other Income151.1--137.4144.4148.7097.537.5
    Reinsurance & Monoline Excess378.7395.181,481.991418.8420.3419.37203.731,696.9
    Corporate, Other, and Eliminations158.9192.81652.753159.2154.5162.18166.72642.6
    Net Investment Gains/Losses(42.4)7.7347.04225.8-58.5-8.09158.49117.7
    - Insurance Service Fees-------108.9
    Total Revenue3,030.63,221.4412,142.9383,256.83,314.03,400.383,667.6213,638.8
    Revenue by Geography - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Insurance--------
    - Foreign Operations124131463111117125132485
    Reinsurance & Monoline Excess--------
    Insurance-Domestic--------
    Insurance-International--------
    Reinsurance-Global--------
    Corporate, Other, and Eliminations--------
    Net Investment Gains--------
    Total Revenue3,030.643,221.3812,142.9383,256.83,3143,400.3793,667.8213,639
    KPIs - Metric (Unit, Scale)FY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Loss ratio for Insurance segment (Nine months) (percentage)62.8%-62.3%--63.0%--
    Loss ratio for Reinsurance & Monoline Excess segment (Nine months) (percentage)53.7%-53.8%49.8%51.3%53.2%--
    Loss ratio (Consolidated) (Nine months) (percentage)61.7-61.3-61.761.7--
    Expense ratio for Insurance segment (Nine months) (percentage)28.4%-28.4%--28.4%--
    Expense ratio for Reinsurance & Monoline Excess segment (Nine months) (percentage)28.7%-28.3%--29.5%--
    Expense ratio (Consolidated) (Nine months) (percentage)28.4%-28.4%-28.6%28.6%--
    GAAP combined ratio for Insurance segment (Nine months) (percentage)91.2---91.391.4--
    GAAP combined ratio for Reinsurance & Monoline Excess segment (Nine months) (percentage)82.4-82.1-80.782.7--
    GAAP combined ratio (Consolidated) (Nine months) (percentage)90.1%----90.3%--
    Loss ratio for Insurance segment (Three months) (percentage)62.6%--61.8%64.0%63.1%--
    Loss ratio for Reinsurance & Monoline Excess segment (Three months) (percentage)56.8%-53.8%49.8%52.8%57.0%--
    Loss ratio (Consolidated) (Three months) (percentage)61.9--60.262.662.4--
    Expense ratio for Insurance segment (Three months) (percentage)28.4%-28.4%28.4%28.4%28.4%--
    Expense ratio for Reinsurance & Monoline Excess segment (Three months) (percentage)27.8%-28.3%29.8%29.0%29.7%--
    Expense ratio (Consolidated) (Three months) (percentage)28.3-28.428.628.528.5--
    GAAP combined ratio for Insurance segment (Three months) (percentage)91.0%-90.7%90.2%92.4%91.5%--
    GAAP combined ratio for Reinsurance & Monoline Excess segment (Three months) (percentage)84.6%-82.1%79.6%81.8%86.7%--
    GAAP combined ratio (Consolidated) (Three months) (percentage)90.2%--88.8%91.1%90.9%--
    Loss ratio excluding catastrophe losses and prior year reserve development (Consolidated) (Nine months) (percentage)59.4%-59.2%59.1%59.3%59.2%--
    Renewal ratio of expiring premiums (percentage)80.5%-81%81%81%80.9%--
    Average renewal rates for insurance and facultative reinsurance (percentage)7.2%-7.1%6.7%6.9%7.2%--
    Average renewal rates for insurance and facultative reinsurance excluding workers' compensation (percentage)8.3%-8.1%7.8%7.9%8.4%--
    Weighted average discount rate for certain workers’ compensation reserves (percentage)3.4%-3.4%3.5%----