Latest news with #WRBerkley
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
W.R. Berkley Profit Rises Despite Continued Surge in Catastrophe Losses
W.R. Berkley's WRB -1.38%decrease; red down pointing triangle profit rose in the second quarter, even as catastrophe losses continued to climb. The Greenwich, Conn., insurance company on Monday posted a profit of $401.3 million, or $1 a share, up from $371.9 million, or 92 cents a share, in the same quarter last year.
Yahoo
3 days ago
- Business
- Yahoo
W. R. Berkley second-quarter profit rises on strong underwriting
(Reuters) -Commercial insurer W. R. Berkley reported a rise in second-quarter profit on Monday, boosted by robust investment gains and steady underwriting performance. The earnings underscore investor preference for companies shielded from tariff-related risks amid persistent uncertainty over U.S. President Donald Trump's trade policy. The Greenwich, Connecticut-based insurer's net written premiums rose 7.2% to a record $3.35 billion in the quarter, as businesses and individuals continued to invest in insurance coverage to guard against risks despite a period of economic uncertainty. Net investment income rose 1.9% to a record $379.3 million in the second quarter, largely driven by higher returns from its growing domestic fixed maturity portfolio. Last week, industry bellwether Travelers reported better-than-expected quarterly profit on stronger underwriting. The company's quarterly catastrophe losses surged more than 10.7% to $99.2 million from $89.7 million a year earlier. The company reported a combined ratio of 91.6%, compared to 91.1% a year earlier. A ratio below 100% shows that an insurer earned more in premiums than it paid out in claims. In recent years, insurers have faced heavy losses from increasingly frequent and destructive natural disasters, including hurricanes, floods and wildfires. For the three months ended June 30, W. R. Berkley reported a profit for common stockholders amounting to $401.3 million, or $1 per share, a rise from $371.9 million, or 92 cents per share, last year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
W. R. Berkley second-quarter profit rises on strong underwriting
July 21 (Reuters) - Commercial insurer W. R. Berkley (WRB.N), opens new tab reported a rise in second-quarter profit on Monday, boosted by robust investment gains and steady underwriting performance. The earnings underscore investor preference for companies shielded from tariff-related risks amid persistent uncertainty over U.S. President Donald Trump's trade policy. The Greenwich, Connecticut-based insurer's net written premiums rose 7.2% to a record $3.35 billion in the quarter, as businesses and individuals continued to invest in insurance coverage to guard against risks despite a period of economic uncertainty. Net investment income rose 1.9% to a record $379.3 million in the second quarter, largely driven by higher returns from its growing domestic fixed maturity portfolio. Last week, industry bellwether Travelers (TRV.N), opens new tab reported better-than-expected quarterly profit on stronger underwriting. The company's quarterly catastrophe losses surged more than 10.7% to $99.2 million from $89.7 million a year earlier. The company reported a combined ratio of 91.6%, compared to 91.1% a year earlier. A ratio below 100% shows that an insurer earned more in premiums than it paid out in claims. In recent years, insurers have faced heavy losses from increasingly frequent and destructive natural disasters, including hurricanes, floods and wildfires. For the three months ended June 30, W. R. Berkley reported a profit for common stockholders amounting to $401.3 million, or $1 per share, a rise from $371.9 million, or 92 cents per share, last year.
Yahoo
3 days ago
- Business
- Yahoo
W. R. Berkley announces leadership transition at Vela Insurance
W. R. Berkley has appointed Shadi Albert as the new president of its subsidiary, Vela Insurance Services, succeeding Arthur Davis. Davis will transition to the role of chairman, providing guidance during the changeover period, the company said. As a W. R. Berkley company, Vela Insurance specialises in providing excess and surplus lines casualty and professional liability insurance solutions across four distinct market segments. Albert joined Berkley in 2023 as president of Berkley Luxury Group. His prior experience includes serving as executive vice-president of strategy and business development at a major US insurance group. Davis, who has been with Vela since 2018, initially joined as the senior vice-president and chief underwriting officer before becoming president in 2019. W. R. Berkley Corporation CEO and president W. Robert Berkley, Jr. said: 'We thank Art for his service and are grateful that he will assist in facilitating a smooth transition. We are excited for Shadi to take on this new role. 'His proven leadership and depth of experience will complement the expertise of Vela's talented team in delivering exceptional service to its brokers and clients.' W. R. Berkley is an insurance holding company established in 1967 and engages in the property casualty insurance business globally through its insurance and reinsurance & monoline excess segments. W.R. Berkley Corporation reported a net income to common stockholders of $417.6m for the first quarter of 2025 (Q1 2025), a 5.6% decline from the $442.4m reported in the previous year. The company's operating income for Q1 2025 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. "W. R. Berkley announces leadership transition at Vela Insurance " 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Earnings To Watch: W. R. Berkley (WRB) Reports Q2 Results Tomorrow
Property casualty insurer W. R. Berkley (NYSE:WRB) will be announcing earnings results this Monday after market close. Here's what to look for. W. R. Berkley met analysts' revenue expectations last quarter, reporting revenues of $3.55 billion, up 8.9% year on year. It was a slower quarter for the company, with a significant miss of analysts' book value per share estimates and EPS in line with analysts' estimates. Is W. R. Berkley a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting W. R. Berkley's revenue to grow 9.7% year on year to $3.63 billion, in line with the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.02 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. W. R. Berkley has missed Wall Street's revenue estimates three times over the last two years. Looking at W. R. Berkley's peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 21.3%, beating analysts' expectations by 1.4%, and Travelers reported revenues up 7.4%, in line with consensus estimates. Progressive traded up 2.2% following the results while Travelers was also up 5.5%. Read our full analysis of Progressive's results here and Travelers's results here. Investors in the insurance segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. W. R. Berkley is down 6.8% during the same time and is heading into earnings with an average analyst price target of $71.50 (compared to the current share price of $68.75). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
