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Jun 30, 2023
W. R. Berkley Q2 2023 Earnings Report
W. R. Berkley reported excellent results with a return on equity of 21.1% and net income doubled.
Key Takeaways
W. R. Berkley Corporation reported excellent results for the second quarter of 2023, with an annualized return on equity of 21.1%. Premium growth accelerated, setting the pace for another record year. The company maintained rate momentum and reported a strong combined ratio, while net investment income grew significantly.
Return on equity and operating return on equity of 21.1% and 18.4%, respectively.
Net income doubles to $356.3 million.
Record net investment income of $245.2 million driven by core portfolio increase of 71.6%.
Record gross and net premiums written grew 9.3% and 8.7% to $3.3 billion and $2.8 billion, respectively.
W. R. Berkley
W. R. Berkley
Forward Guidance
The Company has positive momentum as it heads into the second half of the year and is very optimistic about the remainder of 2023 and beyond.