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Dec 31, 2020
W. R. Berkley Q4 2020 Earnings Report
W. R. Berkley Corporation reported strong Q4 2020 results with record net income and a return on equity of 20.6%.
Key Takeaways
W. R. Berkley Corporation reported an outstanding fourth quarter, achieving a record net income of $312.2 million and a return on equity of 20.6%. Gross premiums written grew by 9.3%. The company's combined ratio was 90.9%, and underwriting income increased by 44.2% to $165.4 million.
Net income reached an all-time record of $312.2 million.
Return on equity was 20.6%.
Gross and net premiums written increased by 9.3% and 8.2%, respectively.
Underwriting income increased 44.2% to $165.4 million.
Forward Guidance
The Company expects that 2021 will provide opportunities for margin improvement, with no signs of rate increases moderating.
Positive Outlook
- Rate increases continued to accelerate throughout the year.
- Total return investment strategy delivered strong performance.
- Net investment income grew 32%.
- Company delivered a superior risk-adjusted return.
- No signs of rate increases moderating.
Challenges Ahead
- Global pandemic continues.
- Frequent catastrophe losses continue.
- Social inflation continues.
- Low interest rates continue.
- Industry’s need for disciplined underwriting and additional rate continues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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