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Jun 30
W. R. Berkley Q2 2025 Earnings Report
W. R. Berkley Corporation reported strong second quarter 2025 results, with record net premiums written and improved investment income, leading to increased net income and operating income.
Key Takeaways
W. R. Berkley Corporation delivered a strong performance in the second quarter of 2025, achieving record net premiums written of $3.4 billion and a return on equity of 19.1%. The company's net income and operating income both saw year-over-year growth, driven by higher underwriting gains and record net investment income, despite above-average industry catastrophe losses.
Net premiums written reached a record $3,351,439,000, demonstrating strong growth.
Net income to common stockholders increased to $401,288,000, up from $371,909,000 in the prior year quarter.
The reported GAAP combined ratio was 91.6%, reflecting disciplined underwriting.
Net investment income hit a record $379,303,000, fueled by higher yields on the expanding domestic fixed-maturity portfolio.
W. R. Berkley
W. R. Berkley
W. R. Berkley Revenue by Segment
Revenue by Segment
Insurance Revenue
CapyFin.comReinsurance & Monoline Excess Revenue
CapyFin.com Forward Guidance
W. R. Berkley Corporation remains confident in its ability to deliver exceptional value to shareholders throughout the remainder of 2025 and well into the future, driven by its disciplined underwriting approach and growing investment income.
Positive Outlook
- Continued strong performance anticipated due to focus on high-margin potential business.
- Net investment income expected to grow further, supported by higher yields on an expanding domestic fixed-maturity portfolio.
- Strength of operating cash flow continues to drive growth in net investable assets.
- Current new money rates remain comfortably above average book yield, positioning for future investment income growth.
- Disciplined underwriting approach is expected to support superior long-term, risk-adjusted returns and consistently lower volatility.
Challenges Ahead
- The cyclical nature of the property casualty industry could impact future performance.
- Significant competition, including new entrants, may affect market share and pricing.
- The long-tail and potentially volatile nature of the insurance and reinsurance business poses inherent risks.
- Investment risks, including those related to various securities and investment funds, could affect financial results.
- Natural and man-made catastrophic losses, including those related to climate change, could increase in frequency and severity.