W. R. Berkley(WRB)

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W. R. Berkley(WRB) - 2023 Q3 - Quarterly Report
2023-11-03 20:11
☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the Transition Period from to . UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 or Former name, former address and former fiscal year, if changed since last report. Securities registered pursuant to Section 12(b) of the Act: Commis ...
W. R. Berkley(WRB) - 2023 Q3 - Earnings Call Transcript
2023-10-24 00:03
W. R. Berkley Corporation (NYSE:WRB) Q3 2023 Earnings Conference Call October 23, 2023 5:00 PM ET Company Participants Rob Berkley - President and Chief Executive Officer Rich Baio - Executive Vice President & Chief Financial Officer Conference Call Participants Mike Zaremski - BMO Capital Markets Elyse Greenspan - Wells Fargo Mark Hughes - Truist Alex Scott - Goldman Sachs Josh Shanker - Bank of America David Motemaden - Evercore ISI Ryan Tunis - Autonomous Research Brian Meredith - UBS Meyer Shields - KBW ...
W. R. Berkley(WRB) - 2023 Q2 - Quarterly Report
2023-08-03 20:07
Investment Gains and Losses - W. R. Berkley Corporation reported a pre-tax net realized gain on investment of $88 million from the sale of Breckenridge IS, Inc.'s property and casualty insurance services division in June 2023[126]. - The company realized a pre-tax gain of $317 million from the sale of a London office building for £718 million in Q1 2022, with a net gain of $251 million after adjustments[127]. - The Company recognized an impairment of $51 million on a real estate investment during the second quarter of 2023[225]. - Net realized and unrealized gains on investments were $91 million in 2023, down from $206 million in 2022, reflecting a pre-tax net realized gain of $88 million from the sale of a division[186]. Reserves and Losses - As of June 30, 2023, the company's net reserves for losses and loss expenses were approximately $15.0 billion, with about $3.1 billion, or 20%, related to the Reinsurance & Monoline Excess segment[141][142]. - The establishment of loss reserves involves complex judgments and is subject to change based on new data and trends[134]. - The company utilizes various actuarial methods to derive loss reserve estimates, including paid loss development and incurred loss development techniques[135]. - The Insurance segment's reserves for losses and loss expenses amounted to $11,902,235 thousand as of June 30, 2023, up from $11,233,924 thousand at the end of 2022, indicating an increase of about 5.9%[144]. - The Reinsurance & Monoline Excess segment's reserves were $3,066,246 thousand as of June 30, 2023, compared to $3,014,955 thousand as of December 31, 2022, reflecting a rise of approximately 1.7%[144]. - The Company recognized COVID-19-related claims losses of approximately $352 million as of June 30, 2023, with $298 million attributed to the Insurance segment and $54 million to the Reinsurance & Monoline Excess segment[149]. - For the six months ended June 30, 2023, the net unfavorable prior year development was $(20,798) thousand, compared to a favorable development of $2,647 thousand for the same period in 2022[148]. - The Company reported an increase in prior year loss reserves of $(28,853) thousand for the six months ended June 30, 2023, compared to $(9,765) thousand for the same period in 2022[148]. - The overall adverse development for the Insurance segment during the six months ended June 30, 2023, included $25 million of adverse development, primarily due to property catastrophe losses[150]. - The favorable development in the Reinsurance & Monoline Excess segment was mainly driven by excess workers' compensation, which benefited from lower claim frequency and favorable claim settlements[154]. Premiums and Revenue - Gross premiums written increased by 8% to $6.386 billion in 2023 from $5.912 billion in 2022, driven by a $412 million increase in the Insurance segment[180]. - Net premiums earned rose by 10% to $5.044 billion in 2023, compared to $4.606 billion in 2022[182]. - Average renewal premium rates for insurance and facultative reinsurance increased by 7.1% in 2023, adjusted for changes in exposures[181]. - Net premiums written increased by 9% to $2,812 million in 2023 from $2,586 million in 2022[201]. - Premiums earned rose by 8% to $2,553 million in 2023 compared to $2,357 million in 2022[202]. - Insurance service fees rose to $58 million in 2023 from $54 million in 2022, mainly due to organic growth within the business[184]. Financial Performance - The Company reported net income to common stockholders of $650 million for the six months ended June 30, 2023, a decrease of 15.4% from $770 million in the same period of 2022[179]. - Net income to common stockholders was $356 million in 2023, compared to $179 million in 2022, driven by an after-tax increase in net investment gains[199]. - The GAAP combined ratio for the consolidated segment was 90.1% in 2023, indicating an underwriting profit, compared to 88.2% in 2022[179]. - The loss ratio for the Insurance segment increased to 62.9% in 2023 from 60.3% in 2022, while the expense ratio rose to 28.4% from 27.9%[179]. - Losses and loss expenses increased to $3,108 million in 2023 from $2,775 million in 2022, with a consolidated loss ratio of 61.6% in 2023 compared to 60.2% in 2022[189]. - Other operating costs and expenses rose to $1,649 million in 2023 from $1,414 million in 2022, with policy acquisition and insurance operating expenses increasing by 11%[190]. Investment Income - The company's investment income is primarily derived from fixed maturity securities, with returns influenced by general interest rates and credit quality[124]. - The Company expects continued fluctuations in investment income from its alternative investments, including private equity and real estate[125]. - Net investment income increased 36% to $469 million in 2023 from $345 million in 2022, primarily due to an $188 million increase in income from fixed maturity securities[183]. - Net investment income surged by 43% to $245 million in 2023 from $172 million in 2022, driven by a $93 million increase in income from fixed maturity securities[203]. Capitalization and Equity - Total common stockholders' equity was $6.9 billion as of June 30, 2023, with stockholders' equity per outstanding share at $26.74[235]. - The Company repurchased 7,098,959 shares of its common stock for $427.6 million during the six months ended June 30, 2023[235]. - Total capitalization, including equity and debt, was $9.7 billion at June 30, 2023, with 29% attributable to debt[236]. - At June 30, 2023, the Company had outstanding debt with a carrying value of $2,836 million, with maturities extending to 2061[233]. Tax and Allowances - The effective income tax rate increased to 21.8% in 2023 from 19.1% in 2022, primarily due to a net reduction in the valuation allowance against foreign tax credits[195]. - The effective income tax rate increased to 22.2% in 2023 from 19.4% in 2022 due to higher foreign and state income taxes[215]. - Loans receivable reported an allowance for expected credit losses of $5 million as of June 30, 2023, up from $2 million at the end of 2022[168]. - Loans receivable had an amortized cost of $182 million, with an allowance for expected credit losses of $5 million as of June 30, 2023[227]. Operating Activities - Cash flow from operating activities increased to $1,154 million for the six months ended June 30, 2023, up from $1,006 million in the same period of 2022, primarily due to increased premium receipts[231]. - The Company declared a regular quarterly cash dividend of $0.11 per share in the second quarter of 2023[235].
W. R. Berkley(WRB) - 2023 Q2 - Earnings Call Transcript
2023-07-21 03:38
W. R. Berkley Corporation (NYSE:WRB) Q2 2023 Earnings Conference Call July 20, 2023 5:00 PM ET Company Participants Robert Berkley - President & Chief Executive Officer Richard Baio - Executive Vice President & Chief Financial Officer William Berkley - Executive Chairman of the Board Conference Call Participants Elyse Greenspan - Wells Fargo Alex Scott - Goldman Sachs Mike Zaremski - BMO Capital Markets Josh Shanker - Bank of America Mark Hughes - Truist Securities Ryan Tunis - Autonomous Research David Mot ...
W. R. Berkley(WRB) - 2023 Q1 - Quarterly Report
2023-05-04 20:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 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) Delaware 22-1867895 (State or other juri ...
W. R. Berkley(WRB) - 2023 Q1 - Earnings Call Transcript
2023-04-21 00:56
W. R. Berkley Corporation (NYSE:WRB) Q1 2023 Earnings Conference Call April 20, 2023 5:00 PM ET Company Participants Robert Berkley - President & CEO Richard Baio - EVP & CFO William Berkley - Executive Chairman of the Board Conference Call Participants Mike Zaremski - BMO Elyse Greenspan - Wells Fargo Josh Shanker - Bank of America Ryan Tunis - Autonomous Research Mark Hughes - Truist Securities Alex Scott - Goldman Sachs Yaron Kinar - Jefferies Brian Meredith - UBS Meyer Shields - KBW David Motemaden - Ev ...
W. R. Berkley(WRB) - 2022 Q4 - Annual Report
2023-02-24 13:37
[Part I](index=6&type=section&id=PART%20I) [Item 1. Business](index=6&type=section&id=ITEM%201.%20BUSINESS) The company is a major commercial lines insurance holding company operating globally through Insurance and Reinsurance & Monoline Excess segments via a decentralized model - The company operates through a decentralized model with 59 businesses, 52 of which were developed internally, focusing on specialized niche markets[18](index=18&type=chunk)[19](index=19&type=chunk) - The company's insurance subsidiaries hold strong financial strength ratings: **A+ (Superior) from A.M. Best**, **A+ from S&P**, **A1 from Moody's**, and **AA- from Fitch**[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) Net Premiums Written by Segment (2020-2022) | Segment | 2022 (In thousands) | 2021 (In thousands) | 2020 (In thousands) | | :--- | :--- | :--- | :--- | | **Insurance** | $8,784,146 | $7,743,814 | $6,347,101 | | **Reinsurance & Monoline Excess** | $1,219,924 | $1,119,053 | $915,336 | | **Total** | **$10,004,070** | **$8,862,867** | **$7,262,437** | [Insurance Segment](index=7&type=section&id=Insurance%20Segment) The Insurance segment, comprising 87.8% of 2022 net premiums written, offers diverse commercial insurance with a combined ratio of 89.2% in 2022 - The Insurance segment is diversified across several specialty areas, including Excess & Surplus Lines for complex risks, tailored coverages for specific industries, specialized product lines like workers' compensation, and regionally focused standard commercial products[25](index=25&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk)[28](index=28&type=chunk) Insurance Segment Gross Premiums Written by Line (2020-2022) | Line of Business | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Other liability | 37.0% | 35.6% | 36.0% | | Short-tail lines | 23.2% | 22.2% | 23.3% | | Professional liability | 15.5% | 17.3% | 14.6% | | Workers' compensation | 11.7% | 12.4% | 14.3% | | Commercial auto | 12.6% | 12.5% | 11.8% | Insurance Segment Underwriting Ratios (2020-2022) | Ratio | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Loss ratio | 61.3% | 61.1% | 64.9% | | Expense ratio | 27.9% | 28.3% | 30.3% | | **Combined ratio** | **89.2%** | **89.4%** | **95.2%** | [Reinsurance & Monoline Excess Segment](index=13&type=section&id=Reinsurance%20%26%20Monoline%20Excess%20Segment) This segment provides treaty and facultative reinsurance, with casualty lines representing 61.7% of gross premiums and an improved combined ratio of 89.7% in 2022 - The segment offers reinsurance on both a portfolio (treaty) and individual risk (facultative) basis, with its monoline excess operations retaining risk solely on an excess basis[77](index=77&type=chunk) Reinsurance & Monoline Excess Gross Premiums Written by Line (2020-2022) | Line of Business | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Casualty | 61.7% | 61.8% | 58.1% | | Property | 19.9% | 19.2% | 22.1% | | Monoline Excess | 18.4% | 19.0% | 19.8% | Reinsurance & Monoline Excess Underwriting Ratios (2020-2022) | Ratio | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Loss ratio | 61.3% | 61.0% | 61.3% | | Expense ratio | 28.4% | 29.7% | 31.8% | | **Combined ratio** | **89.7%** | **90.7%** | **93.1%** | [Loss and Loss Expense Reserves](index=16&type=section&id=Loss%20and%20Loss%20Expense%20Reserves) Gross reserves for losses and loss expenses increased to $17.0 billion in 2022, reflecting a complex and subjective estimation process - Establishing loss reserves is a complex process involving estimates for known claims (case reserves) and incurred but not reported (IBNR) losses, considering factors like inflation and legal trends[90](index=90&type=chunk)[91](index=91&type=chunk)[92](index=92&type=chunk) - The company discounts certain workers' compensation reserves, primarily excess workers' compensation, using risk-free rates based on the U.S. Treasury yield curve, with an **aggregate net discount of $416 million** at the end of 2022[95](index=95&type=chunk)[96](index=96&type=chunk) Reconciliation of Loss and Loss Expense Reserves (Net) | (In thousands) | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | **Net reserves at beginning of year** | **$12,848,362** | **$11,620,393** | **$10,697,998** | | Net provision for losses | $5,861,750 | $4,953,960 | $4,468,706 | | Net payments for claims | ($4,347,910) | ($3,665,694) | ($3,598,649) | | **Net reserves at end of year** | **$14,248,879** | **$12,848,362** | **$11,620,393** | | **Gross reserves at end of year** | **$17,011,223** | **$15,390,888** | **$13,784,430** | [Regulation](index=18&type=section&id=Regulation) The company is subject to extensive state, federal, and international regulations governing solvency, investments, market conduct, and data privacy - U.S. insurance subsidiaries are principally regulated by their domiciliary state insurance departments, which oversee solvency, investments, rates, and policy forms[104](index=104&type=chunk)[105](index=105&type=chunk) - The company must comply with NAIC's Risk-Based Capital (RBC) requirements and annually submit an Own Risk and Solvency Assessment (ORSA) report[112](index=112&type=chunk)[116](index=116&type=chunk) - International operations are subject to complex regulations, including the U.K.'s prudential regime (similar to Solvency II) and the EU's GDPR for data protection[138](index=138&type=chunk)[141](index=141&type=chunk)[146](index=146&type=chunk) [Item 1A. Risk Factors](index=26&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces significant risks from industry cycles, competition, reserve adequacy, catastrophes, regulations, and investment market fluctuations - Industry risks include cyclical pricing, significant competition, and the uncertainty of estimating loss reserves, which could prove inadequate[167](index=167&type=chunk)[168](index=168&type=chunk)[173](index=173&type=chunk) - The company is exposed to significant losses from natural and man-made catastrophes, with **net catastrophe losses of $212 million in 2022**[181](index=181&type=chunk) - The ongoing effects of the COVID-19 pandemic, potential for adverse legislative action, and uncertainty around ultimate claim losses remain a significant risk[183](index=183&type=chunk)[184](index=184&type=chunk)[185](index=185&type=chunk) - Investment portfolio risks include the impact of interest rate changes on the value of fixed maturity securities and volatility in equity, real estate, and other alternative investments[228](index=228&type=chunk)[234](index=234&type=chunk) [Item 2. Properties](index=37&type=section&id=ITEM%202.%20PROPERTIES) The company owned or leased approximately 4.3 million square feet of office space at year-end 2022, with rental expenses of $43.4 million - The company's total office space is **4,295,165 square feet**, of which 1,048,136 sq. ft. is owned and 3,247,029 sq. ft. is leased[244](index=244&type=chunk) - Rental expense was **$43.4 million in 2022**, a slight decrease from $44.1 million in 2021[245](index=245&type=chunk) [Item 3. Legal Proceedings](index=37&type=section&id=ITEM%203.%20LEGAL%20PROCEEDINGS) The company is involved in ordinary course litigation, with estimated costs reflected in loss reserves and not expected to materially impact financial condition - The company is subject to legal proceedings arising in the ordinary course of business, and the estimated costs are included in its loss reserves[246](index=246&type=chunk) [Part II](index=37&type=section&id=PART%20II) [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=38&type=section&id=ITEM%205.%20MARKET%20FOR%20REGISTRANT'S%20COMMON%20EQUITY,%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company's stock significantly outperformed market indices, and it executed share repurchases and paid both regular and special dividends in 2022 - The Board declared regular quarterly dividends and a **special dividend of $0.50 per share** in the second quarter of 2022[249](index=249&type=chunk) Comparison of 5-Year Cumulative Total Return (Assumes $100 Investment) | Index | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **W. R. Berkley Corporation** | $100.00 | $104.61 | $150.46 | $145.72 | $185.56 | **$240.56** | | **S&P 500 Index** | $100.00 | $95.61 | $125.70 | $148.81 | $191.48 | **$156.69** | | **S&P 500 P&C Insurance Index** | $100.00 | $95.31 | $119.97 | $127.56 | $149.90 | **$178.27** | Share Repurchases in Q4 2022 | Month | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | October 2022 | 325,596 | $69.22 | | November 2022 | 938,494 | $69.29 | | December 2022 | — | — | [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=40&type=section&id=ITEM%207.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Net income grew to $1.38 billion in 2022, driven by a 13% increase in net premiums written and a significant gain from a real estate sale - The company's profitability is driven by its insurance operations and investments, with a decentralized structure allowing it to capitalize on niche opportunities[257](index=257&type=chunk)[258](index=258&type=chunk) - A **3-for-2 common stock split** was completed on March 23, 2022, and all per-share amounts in the report reflect this split[262](index=262&type=chunk) - The company sold a London office building in March 2022, realizing a **pre-tax gain of $317 million** ($251 million after adjustments)[263](index=263&type=chunk) [Critical Accounting Estimates](index=41&type=section&id=Critical%20Accounting%20Estimates) Reserves for losses and loss expenses are the most critical accounting estimate, with net reserves totaling $14.2 billion at year-end 2022 - Establishing loss reserves is inherently uncertain and involves management's best estimates based on actuarial projections and qualitative factors like inflation and loss emergence patterns[269](index=269&type=chunk)[272](index=272&type=chunk) - As of December 31, 2022, the company had recognized approximately **$341 million in losses for COVID-19-related claims**, net of reinsurance[285](index=285&type=chunk) Net Prior Year Development (2020-2022) | (In thousands) | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Increase in prior year loss reserves | ($54,511) | ($863) | ($627) | | Increase in prior year earned premiums | $18,106 | $7,510 | $16,807 | | **Net (unfavorable) favorable prior year development** | **($36,405)** | **$6,647** | **$16,180** | [Results of Operations](index=51&type=section&id=Results%20of%20Operations) Net income rose to $1.38 billion in 2022, supported by strong premium growth, increased investment income, and a stable combined ratio of 89.3% - Net investment income **increased 16% to $779 million** in 2022, primarily due to rising interest rates and a larger fixed maturity portfolio[324](index=324&type=chunk) Consolidated Underwriting Results (2021-2022) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Gross premiums written | $11,909,052 | $10,700,134 | | Net premiums written | $10,004,070 | $8,862,867 | | Net premiums earned | $9,561,429 | $8,106,031 | | Loss ratio | 61.3% | 61.1% | | Expense ratio | 28.0% | 28.5% | | **GAAP combined ratio** | **89.3%** | **89.6%** | Net Income to Common Stockholders (2021-2022) | (In thousands, except per share data) | 2022 | 2021 | | :--- | :--- | :--- | | Net income to common stockholders | $1,381,062 | $1,022,490 | | Net income per diluted share | $4.94 | $3.66 | [Liquidity and Capital Resources](index=58&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with operating cash flow of $2.6 billion and total capitalization of $9.6 billion at year-end 2022 - Cash flow from operating activities **increased to $2,569 million in 2022** from $2,184 million in 2021, driven by higher premium receipts[356](index=356&type=chunk) - Total capitalization was **$9.6 billion** at December 31, 2022, with debt representing 30% of the total[361](index=361&type=chunk) - In 2022, the company repurchased **1.4 million shares for $94 million** and paid **$235 million in common stock dividends**[360](index=360&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=62&type=section&id=ITEM%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company's primary market risk is interest rate fluctuation, managed by maintaining a short portfolio duration of 2.4 years - The company manages interest rate risk by matching the duration of its investment portfolio to its liabilities; the **effective duration of the fixed maturity portfolio was 2.4 years** at the end of 2022[375](index=375&type=chunk) Interest Rate Sensitivity of Fixed Maturity Portfolio (as of Dec 31, 2022) | Change in Interest Rates | Estimated Change in Fair Value (In thousands) | | :--- | :--- | | 300 basis point rise | ($1,297,772) | | 100 basis point rise | ($450,899) | | **Base scenario** | **$0** | | 100 basis point decline | $463,339 | | 300 basis point decline | $1,403,291 | [Item 8. Financial Statements and Supplementary Data](index=63&type=section&id=ITEM%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section includes audited financial statements for 2020-2022 and an unqualified audit opinion from KPMG LLP, which identified loss reserves as a critical audit matter - The independent auditor, KPMG LLP, issued an unqualified opinion, stating the financial statements are presented fairly in all material respects[380](index=380&type=chunk) - The auditor identified the **estimation of reserves for losses and loss expenses as a critical audit matter** due to the significant measurement uncertainty and complex judgments involved[385](index=385&type=chunk)[386](index=386&type=chunk) [Notes to Consolidated Financial Statements](index=70&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail key accounting policies, including the valuation of the $22.9 billion investment portfolio and the composition of the $17.0 billion in gross loss reserves [Item 9A. Controls and Procedures](index=115&type=section&id=ITEM%209A.%20CONTROLS%20AND%20PROCEDURES) Management and the independent auditor concluded that the company's disclosure controls and internal control over financial reporting were effective as of year-end 2022 - Management concluded that both **disclosure controls and internal controls over financial reporting were effective** as of December 31, 2022[584](index=584&type=chunk)[589](index=589&type=chunk) - The independent registered public accounting firm issued an **unqualified opinion on the effectiveness of the company's internal control** over financial reporting[592](index=592&type=chunk) [Part III](index=118&type=section&id=PART%20III) [Items 10-14](index=118&type=section&id=ITEMS%2010,%2011,%2012,%2013,%20and%2014) Required information on governance, compensation, and security ownership is incorporated by reference from the company's forthcoming proxy statement - Details regarding directors, executive compensation, security ownership, related transactions, and accountant fees are incorporated by reference from the forthcoming proxy statement[603](index=603&type=chunk)[604](index=604&type=chunk)[605](index=605&type=chunk)[609](index=609&type=chunk)[610](index=610&type=chunk) [Part IV](index=119&type=section&id=PART%20IV) [Item 15. Exhibits and Financial Statement Schedules](index=119&type=section&id=ITEM%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists all financial statement schedules and exhibits, such as material contracts and governance documents, filed with the Form 10-K report - This section provides an index to supplementary financial schedules and a list of all exhibits filed with the report, including governance documents and material contracts[611](index=611&type=chunk)[613](index=613&type=chunk)
W. R. Berkley(WRB) - 2022 Q4 - Earnings Call Transcript
2023-01-27 02:27
W. R. Berkley Corporation (NYSE:WRB) Q4 2022 Earnings Conference Call January 26, 2023 5:00 PM ET Company Participants Robert Berkley - President & CEO Richard Baio - EVP & CFO Conference Call Participants Elyse Greenspan - Wells Fargo David Motemaden - Evercore ISI Mark Hughes - Truist Securities Alex Scott - Goldman Sachs Ryan Tunis - Autonomous Research Josh Shanker - Bank of America Yaron Kinar - Jefferies Meyer Shields - KBW Mike Zaremski - BMO Operator Good day, and welcome to the W. R. Berkley Corpor ...
W. R. Berkley(WRB) - 2022 Q3 - Quarterly Report
2022-11-04 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 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) Delaware 22-1867895 (State or other ...
W. R. Berkley(WRB) - 2022 Q3 - Earnings Call Transcript
2022-10-25 00:27
W. R. Berkley Corporation (NYSE:WRB) Q3 2022 Earnings Conference Call October 24, 2022 5:00 PM ET Company Participants Robert Berkley - President and Chief Executive Officer Rich Baio - Executive Vice President and Chief Financial Officer Conference Call Participants Elyse Greenspan - Wells Fargo Mike Zaremski - BMO Michael Phillips - Morgan Stanley Yaron Kinar - Jefferies Josh Shanker - Bank of America Ryan Tunis - Autonomous Research Brian Meredith - UBS Mark Dwelle - RBC Capital Markets Mark Hughes - Tru ...