Latest news with #W.R.BerkleyCorporation
Yahoo
2 days ago
- Business
- Yahoo
W. R. Berkley Corporation Declares Special Dividend and Increases Regular Quarterly Cash Dividend 12.5%
GREENWICH, Conn., June 11, 2025--(BUSINESS WIRE)--W. R. Berkley Corporation (NYSE: WRB) announced today that its Board of Directors has declared a special cash dividend on its common stock of 50 cents per share to be paid on June 30, 2025 to stockholders of record at the close of business on June 23, 2025. In addition, its Board of Directors has voted to increase the regular cash dividend to an annual rate of 36 cents per share, representing a 12.5% increase from the present rate. The first regular quarterly dividend at the new rate of 9 cents per share will be paid on June 30, 2025 to stockholders of record at the close of business on June 23, 2025. Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess. For further information about W. R. Berkley Corporation, please visit View source version on Contacts Karen A. HorvathVice President – ExternalFinancial Communications203-629-3000 Sign in to access your portfolio
Business Wire
2 days ago
- Business
- Business Wire
W. R. Berkley Corporation Declares Special Dividend and Increases Regular Quarterly Cash Dividend 12.5%
GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE: WRB) announced today that its Board of Directors has declared a special cash dividend on its common stock of 50 cents per share to be paid on June 30, 2025 to stockholders of record at the close of business on June 23, 2025. In addition, its Board of Directors has voted to increase the regular cash dividend to an annual rate of 36 cents per share, representing a 12.5% increase from the present rate. The first regular quarterly dividend at the new rate of 9 cents per share will be paid on June 30, 2025 to stockholders of record at the close of business on June 23, 2025. Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess. For further information about W. R. Berkley Corporation, please visit
Yahoo
23-04-2025
- Business
- Yahoo
Here's What Lifted W. R. Berkley Corporation (WRB) in Q1
Madison Investments, an investment advisor, released its 'Madison Mid Cap Fund' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund (Class I) decreased 4.15% compared to the 3.40% decrease for the Russell Midcap Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Madison Mid Cap Fund highlighted stocks such as W. R. Berkley Corporation (NYSE:WRB). Headquartered in Greenwich, Connecticut, W. R. Berkley Corporation (NYSE:WRB) is an insurance holding company. The one-month return of W. R. Berkley Corporation (NYSE:WRB) was 9.98%, and its shares gained 34.39% of their value over the last 52 weeks. On April 22, 2025, W. R. Berkley Corporation (NYSE:WRB) stock closed at $70.85 per share with a market capitalization of $26.874 billion. Madison Mid Cap Fund stated the following regarding W. R. Berkley Corporation (NYSE:WRB) in its Q1 2025 investor letter: "The top five contributors for the quarter were Brown & Brown, W. R. Berkley Corporation (NYSE:WRB), Arch Capital, Liberty Broadband, and Teledyne Technologies. Given negative market returns during the quarter, it is no surprise to see three insurance companies top our list of contributors. Industry fundamentals remain sound, but investors no doubt also found favor with their defensive demand profiles and limited tariff exposure. Premium growth at both Arch Capital and W.R. Berkley has slowed from the high levels of the last couple of years, but remains solid. Both insurers also benefited from better-than-expected reserve development, bucking industry trends." An insurance agent sitting across a desk from a client reviewing their policy. W. R. Berkley Corporation (NYSE:WRB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. Our database shows that 47 hedge fund portfolios held W. R. Berkley Corporation (NYSE:WRB) at the end of the fourth quarter, compared to 39 in the third quarter. While we acknowledge the potential of W. R. Berkley Corporation (NYSE:WRB) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered W. R. Berkley Corporation (NYSE:WRB) and shared the list of most undervalued insurance stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
22-04-2025
- Business
- Yahoo
W.R. Berkley Corporation profit dips to $417.6m in Q1 2025
W.R. Berkley Corporation has registered a net income to common stockholders of $417.6m in the first quarter of 2025 (Q1 2025), a 5.6% decrease compared with $442.4m in the same quarter of previous year. The company also experienced a slight reduction in net income per diluted share, which fell to $1.04 from $1.09 in the same period in 2023. The company's operating income for the quarter was $404.7m, down from $423.3m in Q1 2024. W.R. Berkley Corporation saw an increase in net premiums written, which rose to $3.1bn from $2.8bn in the same quarter of the previous year. Insurance net premiums written improved to $2.7bn from $2.4bn in Q1 2024, while for Reinsurance & Monoline Excess the figure climbed to $438.8m from $405.5m over the same period. The 10% growth in net premiums written was attributed to favourable market conditions, particularly in the insurance segment. Including current accident year catastrophe losses of $111.1m, the reported combined ratio stood at 90.9%. The company's return on equity decreased to 19.9% for the quarter from 23.7% in the previous year. In the three months ending 31 March 2025, W.R. Berkley repurchased 850,000 shares of its common stock at a cost of $49.2m. Last month, the company disclosed that Japanese insurer Mitsui Sumitomo Insurance has agreed to acquire 15% of W.R. Berkley Corporation's outstanding common stock, contingent on regulatory approvals, with the transaction expected to be finalised by the end of March 2026. In the same month, the company also launched Berkley Embedded Solutions to provide customised insurance offerings at the point of purchase by integrating technology with "digital-first" insurance solutions. "W.R. Berkley Corporation profit dips to $417.6m in Q1 2025 " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
21-04-2025
- Business
- Business Wire
W. R. Berkley Corporation Reports First Quarter Results
GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE: WRB) today reported its first quarter 2025 results. (1) The 2024 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024. (2) Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses. (3) Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders' equity. Expand First quarter highlights included: Return on equity and operating return on equity of 19.9% and 19.3%, respectively. Record net premiums written grew to $3.1 billion. The current accident year combined ratio before catastrophe losses of 3.7 loss ratio points was 87.2%. The reported combined ratio was 90.9%, including current accident year catastrophe losses of $111.1 million. Average rate increases excluding workers' compensation were approximately 8.3%. Net investment income grew 12.6% to $360.3 million. Record net invested assets of $30.7 billion. Book value per share grew 7.1% in the quarter, before dividends and share repurchases. The Company commented: We achieved strong results in the first quarter of 2025 with a 19.9% annualized return on beginning-of-year common stockholders' equity, despite significant first-quarter industry-wide catastrophe losses. These results once again demonstrate our ability to successfully manage underwriting volatility. Net premiums written grew 10% as market conditions remained favorable in many lines of business, particularly in our Insurance segment. Our 90.9% combined ratio includes 3.7 points of catastrophe losses in a quarter with significant industry catastrophe losses, reflecting our approach to managing volatility as a component of risk-adjusted return. Net investment income increased significantly compared to the first quarter of 2024, and sequentially from the fourth quarter of 2024, reflecting the impact of higher new money rates on our growing fixed-maturity portfolio and improvement in our investment fund income. The strength of our operating cash flow continues to drive growth in net investable assets, positioning us well for further investment income growth. Our ability to expand or contract each of our distinct businesses based on specific market conditions remains a significant competitive advantage. This agility enables us to execute our strategy to grow profitably and optimize risk-adjusted returns, while successfully navigating risks and embracing opportunities. We are confident that we will continue to deliver outstanding value to shareholders over the remainder of 2025 and beyond. Webcast Conference Call The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on April 21, 2025, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at About W. R. Berkley Corporation Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess. Forward Looking Information This is a 'Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2025 and beyond, are based upon the Company's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to: the cyclical nature of the property casualty industry; the impact of significant competition, including new entrants to the industry; the long-tail and potentially volatile nature of the insurance and reinsurance business; product demand and pricing; claims development and the process of estimating reserves; investment risks, including those of our portfolio of fixed maturity securities and investments in equity securities, including investments in financial institutions, municipal bonds, mortgage-backed securities, loans receivable, investment funds, including real estate, merger arbitrage, energy related and private equity investments; the effects of emerging claim and coverage issues; the uncertain nature of damage theories and loss amounts, including claims for cyber security-related risks; natural and man-made catastrophic losses, including as a result of terrorist activities; the ongoing effects of the COVID-19 pandemic, or other epidemics and pandemics; the impact of climate change, which may alter the frequency and increase the severity of catastrophe events; general economic and market activities, including inflation, interest rates, the impact of tariffs and volatility in the credit and capital markets; the impact of the conditions in the financial markets and the global economy, and the potential effect of legislative, regulatory, accounting or other initiatives taken in response to such conditions, on our results and financial condition; foreign currency and political risks relating to our international operations; our ability to attract and retain key personnel and qualified employees; continued availability of capital and financing; the success of our new ventures or acquisitions and the availability of other opportunities; the availability of reinsurance; our retention under the Terrorism Risk Insurance Program Reauthorization Act of 2019; the ability or willingness of our reinsurers to pay reinsurance recoverables owed to us; other legislative and regulatory developments, including those related to business practices in the insurance industry; credit risk related to our policyholders, independent agents and brokers; changes in the ratings assigned to us or our insurance company subsidiaries by rating agencies; the availability of dividends from our insurance company subsidiaries; cyber security breaches of our information technology systems and the information technology systems of our vendors and other third parties, or related processes and systems; the effectiveness of our controls to ensure compliance with guidelines, policies and legal and regulatory standards; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks and uncertainties could cause our actual results for the year 2025 and beyond to differ materially from those expressed in any forward-looking statement we make. Any projections of growth in our revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. (1) The 2024 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024. (2) Basic shares outstanding consist of the weighted average number of common shares outstanding during the period (including shares held in a grantor trust). Diluted shares outstanding consist of the weighted average number of basic and common equivalent shares outstanding during the period. Expand Business Segment Operating Results (Amounts in thousands, except ratios) (1) First Quarter 2025 2024 Insurance: Gross premiums written $ 3,216,952 $ 2,921,050 Net premiums written 2,694,455 2,445,715 Net premiums earned 2,642,507 2,398,768 Pre-tax income 509,505 478,149 Loss ratio 63.9 % 61.8 % Expense ratio 27.8 % 28.4 % GAAP Combined ratio 91.7 % 90.2 % Reinsurance & Monoline Excess: Gross premiums written $ 466,987 $ 441,705 Net premiums written 438,847 405,576 Net premiums earned 369,874 365,579 Pre-tax income 120,380 127,624 Loss ratio 57.7 % 49.8 % Expense ratio 27.7 % 29.8 % GAAP Combined ratio 85.4 % 79.6 % Corporate and Eliminations: Net investment gains $ 16,355 $ 25,780 Interest expense (31,727 ) (31,728 ) Other expenses (75,907 ) (25,754 ) Pre-tax loss (91,279 ) (31,702 ) Consolidated: Gross premiums written $ 3,683,939 $ 3,362,755 Net premiums written 3,133,302 $ 2,851,291 Net premiums earned 3,012,381 $ 2,764,347 Pre-tax income 538,606 574,071 Loss ratio 63.1 % 60.2 % Expense ratio 27.8 % 28.6 % GAAP Combined ratio 90.9 % 88.8 % Expand (1) Loss ratio is losses and loss expenses incurred expressed as a percentage of premiums earned. Expense ratio is underwriting expenses expressed as a percentage of premiums earned. GAAP combined ratio is the sum of the loss ratio and the expense ratio. Expand Supplemental Information (Amounts in thousands) First Quarter 2025 2024 Net premiums written: Other liability $ 1,108,264 $ 1,015,614 Short-tail lines (1) 600,192 532,341 Auto 389,154 348,582 Workers' compensation 340,607 304,632 Professional liability 256,238 244,546 Total Insurance 2,694,455 2,445,715 Casualty (2) 186,790 190,019 Property (2) 132,157 98,662 Monoline excess 119,900 116,895 Total Reinsurance & Monoline Excess 438,847 405,576 Total $ 3,133,302 $ 2,851,291 Current accident year losses from catastrophes: Insurance $ 70,617 $ 27,451 Reinsurance & Monoline Excess 40,491 3,055 Total $ 111,108 $ 30,506 Net Investment income: Core portfolio (3) $ 316,940 $ 331,177 Investment funds 27,023 (29,349 ) Arbitrage trading account 16,329 18,011 Total $ 360,292 $ 319,839 Net realized and unrealized gains (losses) on investments: Net realized losses on investments $ (4,235 ) $ (14,308 ) Change in unrealized gains on equity securities 19,946 25,811 Total $ 15,711 $ 11,503 Other operating costs and expenses: Policy acquisition and insurance operating expenses $ 838,246 $ 791,532 Insurance service expenses 23,246 21,439 Net foreign currency losses (gains) 19,378 (13,177 ) Other costs and expenses 69,040 68,795 Total $ 949,910 $ 868,589 Cash flow from operations $ 743,817 $ 746,235 Reconciliation of net income to operating income: Net income $ 417,571 $ 442,471 Pre-tax investment gains, net of related expenses (16,355 ) (25,780 ) Income tax expense 3,528 6,633 Operating income after-tax (4) $ 404,744 $ 423,324 Expand (1) Short-tail lines include commercial multi-peril (non-liability), inland marine, accident and health, fidelity and surety, boiler and machinery, high net worth homeowners and other lines. (2) Includes reinsurance casualty and property and certain program management business. (3) Core portfolio includes fixed maturity securities, equity securities, cash and cash equivalents, real estate and loans receivable. (4) Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses). Net investment gains (losses) are computed net of related expenses, including performance-based compensatory costs associated with realized investment gains. Management believes this measurement provides a useful indicator of trends in the Company's underlying operations. Expand Selected Balance Sheet Information (Amounts in thousands, except per share data) December 31, 2024 Net invested assets (1) $ 30,728,601 $ 29,780,638 Total assets 41,345,792 40,448,635 Reserves for losses and loss expenses 20,921,987 20,368,030 Senior notes and other debt 1,832,822 1,831,158 Subordinated debentures 1,009,988 1,009,808 Common stockholders' equity (2) 8,914,039 8,395,111 Common stock outstanding (3) 379,313 380,066 Book value per share (4) 23.50 22.09 Tangible book value per share (4) 22.88 21.46 Expand (1) Net invested assets include investments, cash and cash equivalents, trading accounts receivable from brokers and clearing organizations, trading account securities sold but not yet purchased and unsettled purchases. (2) As of March 31, 2025, reflected in common stockholders' equity are after-tax unrealized investment losses of $369 million and unrealized currency translation losses of $393 million. As of December 31, 2024, reflected in common stockholders' equity are after-tax unrealized investment losses of $517 million and unrealized currency translation losses of $417 million. (3) During the three months ended March 31, 2025, the Company repurchased 850,000 shares of its common stock for $49.2 million. The number of shares of common stock outstanding excludes shares held in a grantor trust. (4) Book value per share is total common stockholders' equity divided by the number of common shares outstanding. Tangible book value per share is total common stockholders' equity excluding the after-tax value of goodwill and other intangible assets divided by the number of common shares outstanding. Expand (1) Total fixed maturity securities had an average rating of AA- and an average duration of 2.7 years, including cash and cash equivalents. (2) Cash and cash equivalents includes trading accounts receivable from brokers and clearing organizations, trading account securities sold but not yet purchased and unsettled purchases. Expand
