W. R. Berkley Corporation Reports Third Quarter 2025 Results

W. R. Berkley Corporation, an insurance holding company founded in 1967, has released its third quarter 2025 financial results. The company, which is among the largest commercial lines writers in the United States, operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

Financial Highlights

For the third quarter of 2025, W. R. Berkley Corporation reported a significant increase in net income, which grew by 39.8% to $511.0 million. The return on equity (ROE) was 24.3%, and the operating return on equity was 21.0%. The company also saw a rise in gross premiums written, which amounted to $3.8 billion, and net premiums written, which reached $3.2 billion.

Key financial metrics for the third quarter include:

• Net income per diluted share increased to $1.28 from $0.91 in the same period last year.
• Operating income was $440.2 million, up from $393.0 million in the third quarter of 2024.
• Net investment income rose to $351.2 million, driven by a 9.4% increase in the core portfolio.
• Book value per share grew by 5.8%, before dividends and share repurchases.

Business and Operational Highlights

The company reported several operational highlights for the third quarter:

• Average rate increases excluding workers' compensation were approximately 7.6%.
• The current accident year combined ratio before catastrophe losses was 88.4%.
• The reported combined ratio was 90.9%, including current accident year catastrophe losses of $78.5 million.
• Record common stockholders' equity of $9.8 billion.

Strategic Initiatives and Corporate Developments

During the third quarter, W. R. Berkley Corporation repurchased 350,000 shares of its common stock for $24.6 million. For the nine months ended September 30, 2025, the company repurchased 1,200,000 shares for $73.8 million.

Management's Perspective

Management highlighted the company's strong performance, emphasizing the 24.3% return on beginning of year shareholders’ equity. They attributed the success to the company's decentralized structure and focus on specialty niche markets, which enabled growth while maintaining rate adequacy and underwriting discipline. The company also noted the positive contribution of operating cash flow to investment income.

Future Outlook

Looking ahead, W. R. Berkley Corporation believes it is well-positioned to create exceptional value for shareholders throughout the remainder of 2025 and beyond. The company remains focused on disciplined underwriting and long-term risk-adjusted returns.

Original SEC Filing: BERKLEY W R CORP [ WRB ] - 8-K - Oct. 20, 2025