Logo

WRB

W. R. Berkley Corporation

WRB

W. R. Berkley Corporation • NYSE
$77.69 ▲ 0.06% (+0.05)
Market Cap $29.52 B
52w High $78.96
52w Low $55.97
Dividend Yield 1.34%
P/E 16.32
Volume 629.91K
Outstanding Shares 380.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.768B ▲ $19.751M ▼ $511.032M ▲ 13.562% ▲ $1.29 ▲ $679.473M ▲
Q2-2025 $3.671B ▲ $154.214M ▼ $401.288M ▼ 10.932% ▼ $1.01 ▼ $539.671M ▼
Q1-2025 $3.547B ▼ $246.509M ▲ $417.571M ▼ 11.771% ▼ $1.05 ▼ $560.547M ▼
Q4-2024 $3.668B ▲ $197.678M ▼ $576.101M ▲ 15.708% ▲ $1.45 ▲ $746.407M ▲
Q3-2024 $3.4B $242.808M $365.634M 10.753% $0.92 $494.238M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $27.322B ▲ $43.715B ▲ $33.91B ▲ $9.799B ▲
Q2-2025 $26.048B ▲ $42.658B ▲ $33.353B ▲ $9.295B ▲
Q1-2025 $25.296B ▲ $41.346B ▲ $32.419B ▲ $8.914B ▲
Q4-2024 $24.328B ▲ $40.567B ▲ $32.16B ▲ $8.395B ▼
Q3-2024 $24.193B $40.359B $31.92B $8.426B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $511.032M ▲ $1.14B ▲ $-627.624M ▼ $-95.262M ▲ $419.49M ▲ $1.123B ▲
Q2-2025 $401.289M ▼ $703.807M ▼ $-234.213M ▲ $-231.714M ▼ $264.32M ▲ $683.214M ▼
Q1-2025 $417.571M ▼ $743.817M ▼ $-924.418M ▼ $-81.41M ▲ $-254.538M ▼ $727.616M ▼
Q4-2024 $576.101M ▲ $810.033M ▼ $-87.064M ▲ $-290.546M ▼ $401.509M ▲ $796.08M ▼
Q3-2024 $365.634M $1.241B $-1.105B $-153.82M $-7.032M $1.228B

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
InsuranceDomestic Segment
InsuranceDomestic Segment
 $2.83Bn ▲$5.70Bn ▲$3.04Bn ▼$3.04Bn ▲
ReinsuranceGlobal Segment
ReinsuranceGlobal Segment
 $420.00M ▲$860.00M ▲$450.00M ▼$450.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Income has grown steadily over the past five years, with both revenue and profits moving higher in a fairly consistent way. The business has scaled up without sacrificing margins too much, which suggests disciplined pricing and underwriting. After a strong rebound from 2020, profit growth briefly slowed in the middle of the period, then re‑accelerated more recently, indicating the company is benefiting from firm insurance pricing and solid execution. Earnings per share have risen faster than overall profit, which points to shareholder‑friendly capital management on top of underlying business growth.

Balance Sheet

Balance Sheet The balance sheet looks solid and gradually stronger over time. Total assets have expanded meaningfully most recently, while shareholders’ equity has climbed year after year, showing that profits are being retained and reinvested. Debt levels have stayed quite stable rather than rising with the asset base, which helps keep financial risk contained. Cash balances move around but remain healthy for an insurer, suggesting a reasonable cushion while still keeping capital actively deployed into the business.

Cash Flow

Cash Flow Cash generation is a clear strong point. Cash from operations has increased in a fairly smooth, upward trend each year, reflecting both growth in the business and good collection of premiums and investment income. Because the company spends relatively little on physical capital, most of this operating cash turns into free cash flow. That creates flexibility for paying claims, supporting growth in underwriting capacity, paying dividends, and potentially repurchasing shares, all without needing to rely heavily on new borrowing.

Competitive Edge

Competitive Edge W. R. Berkley competes by being specialized rather than generic. It focuses on niche and specialty property‑casualty lines where deep underwriting expertise matters more than sheer size. Its decentralized structure—many small, autonomous units—lets local teams move quickly, tailor products, and stay close to customers, which is difficult for more centralized giants to replicate. A reputation for disciplined underwriting and prioritizing profitability over market share reinforces its standing. The trade‑off is ongoing exposure to the insurance cycle, catastrophe losses, and the challenge of coordinating many semi‑independent units, but this structure also underpins much of its moat.

Innovation and R&D

Innovation and R&D Innovation is centered on data, technology, and new distribution models rather than traditional lab‑style R&D. The company is actively applying artificial intelligence and advanced analytics to underwriting, claims, and customer service, aiming for sharper risk selection and faster, more efficient operations. Its Berkley Embedded Solutions initiative is a notable step into digital, embedding insurance directly into other companies’ products and buying journeys. This could open new, scalable channels but also brings execution risk and the need to keep pace with evolving tech and regulatory standards. Overall, the innovation effort looks targeted and commercially focused, not experimental for its own sake.

Summary

Overall, W. R. Berkley appears to be a steadily growing specialty insurer with a long operating history and a track record of improving earnings and cash flow. The financial picture shows consistent growth, a strengthening equity base, stable leverage, and robust cash generation—all pointing to a disciplined, profitable franchise rather than a boom‑and‑bust story. Competitively, its niche focus, decentralized model, and underwriting discipline create a meaningful edge, while ongoing investment in AI, data, and embedded insurance aims to keep that edge relevant in a more digital market. Key uncertainties remain typical of the sector—insurance pricing cycles, large loss events, and execution on technology and new ventures—but the recent trends suggest a well‑managed, financially resilient business within the property‑casualty landscape.

NEWS

November 17, 2025 · 4:30 PM UTC

W. R. Berkley Corporation Names Hale Johnston President of Berkley Net

Read more

October 20, 2025 · 4:10 PM UTC

W. R. Berkley Corporation Reports Third Quarter 2025 Results

Read more

September 22, 2025 · 9:00 AM UTC

W. R. Berkley Corporation to Announce Third Quarter 2025 Earnings on October 20, 2025

Read more

September 10, 2025 · 4:15 PM UTC

W. R. Berkley Corporation Declares Regular Quarterly Cash Dividend

Read more