W.R. Berkley $(WRB)$ reported FY 2025 net income to common stockholders of USD 1.8 billion, or USD 4.45 per diluted share, on gross premiums written of USD 15.1 billion (+6%). Net premiums written were USD 12.7 billion (+6%) and net premiums earned were USD 12.4 billion (+8%). The consolidated GAAP combined ratio was 90.7, with a loss ratio of 62.4% and an expense ratio of 28.3%. Net investment income was USD 1.4 billion (+7%), while net realized and unrealized gains on investments were USD 131 million. Catastrophe losses, net of reinsurance recoveries, were USD 336 million, and net favorable prior year development was USD 3 million. By segment, Insurance posted FY 2025 gross premiums written of USD 13.5 billion (+6%) and a GAAP combined ratio of 91.7 (loss ratio 63.5%; expense ratio 28.2%). Reinsurance & Monoline Excess recorded gross premiums written of USD 1.6 billion (+6%) and a GAAP combined ratio of 83.7 (loss ratio 54.6%; expense ratio 29.1%). Net loss reserves were USD 19.0 billion at December 31, 2025, including USD 3.4 billion (18.0%) in Reinsurance & Monoline Excess; the aggregate net discount on excess and assumed workers’ compensation reserves was USD 420 million, with a weighted average discount rate of 3.6%. Corporate and business updates included average renewal premium rate increases of 6.7% in FY 2025 (7.6% excluding workers’ compensation), Insurance service fees of USD 119 million, and share repurchases of 4.1 million shares for USD 270 million. W.R. Berkley also declared ordinary quarterly dividends totaling USD 0.35 per share for FY 2025 plus special dividends of USD 0.50 per share and USD 1.00 per share (USD 700 million in aggregate dividends). Management commentary highlighted adverse prior year reserve development in Insurance driven mainly by other liability (umbrella and excess liability with underlying auto exposure) and auto liability, citing social inflation and increased litigated claims, while Reinsurance & Monoline Excess reported favorable prior year development led by property and workers’ compensation, partially offset by adverse casualty reinsurance assumed development.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. W.R. Berkley Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000011544-26-000005), on February 27, 2026, and is solely responsible for the information contained therein.
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