Premiums and Revenue - Net premiums written for 2024 reached $11,972.1 million, a 9.3% increase from $10,954.5 million in 2023[20] - The Insurance segment accounted for 88.1% of total net premiums written in 2024, up from 87.3% in 2023[20] - Reinsurance & Monoline Excess segment contributed 11.9% to total net premiums written in 2024, slightly down from 12.7% in 2023[20] - Insurance segment revenue increased to $11,181,501 thousand in 2024 from $9,827,866 thousand in 2023, representing a growth of 13.7%[84] - Reinsurance & Monoline Excess segment revenue rose to $1,696,905 thousand in 2024, up from $1,615,277 thousand in 2023, marking a growth of 5.0%[84] - The total revenue for the company reached $13,638,752 thousand in 2024, compared to $12,142,938 thousand in 2023, reflecting an increase of 12.3%[84] Claims and Reserves - Claims occurring during the current year amounted to $7,083,999 thousand in 2024, up from $6,311,780 thousand in 2023, representing an increase of about 12.2%[100] - Total net payments for claims in 2024 were $5,484,430 thousand, compared to $4,981,610 thousand in 2023, indicating an increase of approximately 10.1%[100] - The gross reserves at the end of 2024 were $20,368,030 thousand, compared to $18,739,652 thousand in 2023, marking an increase of about 8.7%[102] - The company discounted its workers' compensation reserves amounting to $1,358 million as of December 31, 2024, compared to $1,352 million in 2023, showing stability in reserve management[95] - The company's net reserves for environmental and asbestos claims were $16 million and $17 million as of December 31, 2024 and 2023, respectively[99] Market Presence and Operations - The company operates in 87 countries worldwide, with branches or offices in 40 cities outside the United States[29] - A total of 51 out of 58 businesses were developed internally, while 7 were added through acquisitions[19] - The company has 33 subsidiaries rated A+ by A.M. Best, indicating strong financial strength[20] - The company is focused on expanding its market presence and enhancing profitability through tailored insurance coverages and risk management solutions[34] Financial Strength and Ratings - The financial strength ratings from S&P, Moody's, and Fitch for the company's subsidiaries are A+, A1, and AA- respectively[21] - As of December 31, 2024, the RBC of each domestic insurance subsidiary was above the calculated RBC target level, indicating strong financial health[119] Business Segments and Products - Berkley Insurance Company has a diverse portfolio, including commercial general liability, professional liability, and niche products for industries like technology and life sciences[36] - Berkley Cyber Risk Solutions continues to adapt its offerings to address evolving cybersecurity vulnerabilities, providing specialty commercial cyber insurance globally[38] - Berkley Environmental underwrites specialty environmental products for contractors and property owners, focusing on casualty and environmental risks[40] - Berkley Healthcare provides customized insurance solutions for healthcare providers, including a wide range of medical professional coverages[43] - Berkley Latinoamérica provides a variety of insurance products including property, casualty, and workers' compensation across multiple countries in Latin America[46] Regulatory Environment - The company is subject to various state regulations, including the California Consumer Privacy Act, which may increase operational costs[113] - The NAIC adopted the Model Bulletin on the Use of Artificial Intelligence Systems by Insurers in December 2023, which may impact future operations[116] - The company must comply with the EU General Data Protection Regulation (GDPR) and the U.K. GDPR, which impose significant compliance obligations and potential fines for non-compliance[148] - The NAIC adopted a new standard for climate-related risk reporting for insurers with over $100 million in U.S. direct premium as part of its annual Climate Risk Disclosure Survey[129] Employee and Corporate Culture - The company employs 8,606 individuals as of January 15, 2025, with 8,474 employed by subsidiaries[159] - The company is committed to a performance culture, focusing on diversity, inclusion, and employee well-being through robust health and wellness programs[160] - The company has a "pay for performance" philosophy that aligns employee incentives with risk and performance frameworks[162] Competition and Market Dynamics - The company faces strong competition in the property casualty insurance and reinsurance sectors from both domestic and foreign entities, including well-capitalized new entrants[158] - Future performance is subject to various risks, including competition, claims development, and economic conditions[16]

Founder of Dividend Mantra. Founder of Mr. Free At 33. Co-Founder of Dividends & Income. I started blogging about my journey to financial independence back in 2011. By living well below my means and intelligently investing my hard-earned capital, I went from below broke at age 27 to financially free at 33 years old. I regularly create content on dividend growth investing, living off of dividends, undervalued high-quality dividend growth stocks, high-yield situations, and other long-term investment opportuni ...

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I like to take a long term, buy-and-hold approach to investing, with a bias toward stocks that can sustainably post high quality earnings. Mostly found in the dividend and income section. Blog about various US/Canadian stocks at 'The Compound Investor', and predominantly UK names on 'The UK Income Investor'.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this artic ...

W.R. Berkley Corporation’s (WRB) fourth-quarter 2024 operating income of $1.13 per share beat the Zacks Consensus Estimate by 20.2%. The bottom line improved 17.7% year over year.The insurer benefited from higher premiums and improved net investment income, partially offset by wider catastrophe losses and escalated expenses.See the Zacks Earnings Calendar to stay ahead of market-making news.Behind the HeadlinesW.R. Berkley’s net premiums written were $2.9 billion, up 8% year over year. The figure was lower ...

For the quarter ended December 2024, W.R. Berkley (WRB) reported revenue of $3.51 billion, up 9.2% over the same period last year. EPS came in at $1.13, compared to $0.97 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.37 billion, representing a surprise of +4.19%. The company delivered an EPS surprise of +20.21%, with the consensus EPS estimate being $0.94.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

W.R. Berkley (WRB) came out with quarterly earnings of $1.13 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.21%. A quarter ago, it was expected that this insurance company would post earnings of $0.92 per share when it actually produced earnings of $0.93, delivering a surprise of 1.09%.Over the last four quarters, the com ...

W. R. Berkley Corporation 475 Steamboat Road Greenwich, Connecticut 06830 (203) 629-3000 NEWS RELEASE FOR IMMEDIATE RELEASE CONTACT: Karen A. Horvath Vice President - External Financial Communications (203) 629-3000 | | | | Fourth Quarter | | | Twelve Months | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2024 | | 2023 | | 2024 | | 2023 | | Gross premiums written | | $ 3,497,284 | $ | 3,232,710 | $ | 14,211,090 | $ | 12,972,006 | | Net premiums written | | 2,936,750 | | 2,719,668 | | 11, ...

W. R. Berkley Corporation (NYSE: WRB ) is expected to release its Q4 2024 earnings in the coming days, which are likely to be slightly impacted by higher catastrophe losses, limiting its upside in the shortLabutes IR is a Fund Manager/Analyst specialized in the financial sector, with more than 18 years of experience in the financial markets. I have worked at several type of institutions in the industry, always at the buy side and related to portfolio management. Associated with the existing author The Outsi ...

Core Viewpoint - W.R. Berkley Corporation (WRB) is expected to report fourth-quarter 2024 earnings on January 27, with a history of earnings surprises in the last four quarters [1] Group 1: Earnings and Revenue Expectations - Gross premiums written in the Insurance segment are anticipated to reach $3.3 billion, reflecting a 2.3% increase from the previous year [2] - The Reinsurance & Monoline Excess segment's gross premiums written is projected to be $349.8 million, up 5.8% year-over-year [3] - The Zacks Consensus Estimate for fourth-quarter 2024 premiums earned is $2.97 billion, while the company's estimate is $2.92 billion, indicating a 7.4% increase from the prior year [3] - Total revenues are expected to rise to $3.5 billion, representing a 9.1% increase from the year-ago figure [5] Group 2: Investment Income and Expenses - Net investment income is estimated at $323.8 million, showing a significant increase of 27.9% from the previous year, driven by improved cash flows and higher yields [4] - Total expenses are projected to increase by 10.9% to $3 billion, influenced by higher losses, non-insurance business expenses, and investments in technology [6] Group 3: Profitability and Ratios - The combined ratio is expected to remain at 91, benefiting from prudent pricing and increased exposure, despite a deterioration of 19 basis points in the expense ratio [7] - Continued share buybacks are likely to support the bottom line, with the Zacks Consensus Estimate for earnings per share at 94 cents, a decrease of 3.1% from the previous year [8] Group 4: Earnings Prediction Model - The current Earnings ESP for W.R. Berkley is -1.77%, indicating that the Most Accurate Estimate of 92 cents is lower than the Zacks Consensus Estimate of 94 cents [10] - W.R. Berkley holds a Zacks Rank of 3, suggesting a neutral outlook for earnings performance [10]