Workflow
W. R. Berkley(WRB)
icon
Search documents
W. R. Berkley(WRB) - 2019 Q2 - Quarterly Report
2019-08-05 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the Transition Period from to . Commission File Number 1-15202 W. R. BERKLEY CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...
W. R. Berkley(WRB) - 2019 Q2 - Earnings Call Transcript
2019-07-24 00:51
W. R. Berkley Corporation (NYSE:WRB) Q2 2019 Results Conference Call July 23, 2019 5:00 PM ET Company Participants Rob Berkley – Chief Executive Officer Rich Baio – Chief Financial Officer Bill Berkley – Executive Chair Conference Call Participants Mike Zaremski - Credit Suisse Mike Phillips - Morgan Stanley Amit Kumar - Buckingham Research Joshua Shanker - Deutsche Bank Meyer Shields - KBW Yaron Kinar - Goldman Sachs Operator Good day, and welcome to W. R. Berkley Corporation's Second Quarter 2019 Earnings ...
W. R. Berkley(WRB) - 2019 Q1 - Quarterly Report
2019-05-08 20:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) þ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2019 or o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the Transition Period from to . Commission File Number 1-15202 W. R. BERKLEY CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. ...
W. R. Berkley(WRB) - 2019 Q1 - Earnings Call Transcript
2019-04-24 01:07
Financial Data and Key Metrics Changes - The company reported a 9% increase in net income to $181 million or $0.94 per share compared to $166 million or $0.87 per share in the prior year's quarter [8] - Return on equity improved to 13.3% on an annualized basis, up one point from the previous year [8] - Pre-tax underwriting income on an accident year basis excluding catastrophes was $96 million, representing a 22% increase from $79 million in the prior year [11] - Stockholders' equity increased by 6% or approximately $325 million from the prior consecutive quarter [20] Business Line Data and Key Metrics Changes - Net premiums written in the Reinsurance & Monoline Excess segment increased by 2.7% to approximately $1.7 billion, while the Insurance segment grew by 1.6% to about $1.5 billion [13] - The Reinsurance & Monoline Excess segment reported growth to $212 million [13] - The expense ratio improved by 0.9% to 32.3% quarter-over-quarter, driven by higher net earnings premium and lower underwriting expenses [13][14] Market Data and Key Metrics Changes - The company achieved a 6.4% rate increase excluding workers' compensation, with renewal retention ratios remaining stable [27] - The property market is showing early signs of responding to previous catastrophic activity, while the casualty market remains impaired [24][26] Company Strategy and Development Direction - The company is focused on optimizing the balance between exposure growth and rate, ensuring a long-term view without compromising future performance for short-term gains [36][37] - The reinsurance operations have become a more modest percentage of the overall group due to competitive pressures, leading to a reclassification of certain operations [12] Management's Comments on Operating Environment and Future Outlook - Management noted that while the industry is experiencing a firming in rates, the casualty lines are still facing challenges, and the market's response to pricing changes may take time [22][60] - The company is optimistic about achieving appropriate risk-adjusted returns and is committed to maintaining a disciplined approach to underwriting [120] Other Important Information - The effective tax rate for the quarter was 20.8%, largely unchanged from the previous year [19] - The company maintained an average rating of AA- for fixed maturity securities and slightly reduced the average duration to 2.7 years [17] Q&A Session Summary Question: Competitive environment in P&C and pricing momentum - Management indicated that rate increases are the first step, followed by tightening terms and conditions, which will enhance margins over time [41] Question: Expectations for top-line growth - Management expects to accelerate growth, particularly as rates improve, but does not anticipate explosive growth in the near term [43] Question: Components of the 6% rate increase - Management clarified that rate increases vary by product line, with significant increases in commercial auto and property markets [48][51] Question: Admitted vs. non-admitted market dynamics - Management acknowledged a gradual firming in the market, with legacy carriers beginning to withdraw or restrict writings [54] Question: Casualty line reserve adequacy - Management expressed concerns about the adequacy of reserves in the casualty line, noting that the benign environment may be changing [62] Question: D&O market observations - Management noted significant rate increases in parts of the D&O market, indicating a positive trend [64] Question: Re-segmentation impact on loss and expense ratios - Management suggested that the current release figures are a reasonable placeholder for future performance, subject to business performance [69] Question: Net investment income outlook - Management believes they can maintain current yields in a flat yield environment but does not anticipate yield expansion [71] Question: Workers' compensation pricing and loss cost trends - Management indicated that loss cost trends remain benign, but there are concerns about sustainability due to potential increases in injury rates [80] Question: Growth in casualty reinsurance - Management noted that growth in casualty reinsurance is driven by opportunities both domestically and internationally, with expectations for continued firming in the market [96]
W. R. Berkley(WRB) - 2018 Q4 - Annual Report
2019-02-22 21:13
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) [x] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission file number 1-15202 W. R. BERKLEY CORPORATION (Exact name of registrant as specified in its charter) | | | (State or other jurisdiction of incor ...
W. R. Berkley(WRB) - 2018 Q4 - Earnings Call Transcript
2019-01-30 03:02
W.R. Berkley Corporation (NYSE:WRB) Q4 2018 Earnings Conference Call January 29, 2019 5:00 PM ET Company Participants Rob Berkley - President and CEO Rich Baio - CFO Conference Call Participants Amit Kumar - Buckingham Research Kai Pan - Morgan Stanley Mike Zaremski - Credit Suisse Meyer Shields - KBW Brian Meredith - UBS Jay Cohen - Bank of America Merrill Lynch Ryan Tunis - Autonomous Research Operator Good day, and welcome to W.R. Berkley Corporation’s Fourth Quarter 2018 Earnings Conference Call. Today' ...