W.R. Berkley's Q1 operating income jumps to record high

W. R. Berkley

21/04/2026 21:21

Overview

U.S. commercial insurer's Q1 net income rose 23% yr/yr, operating income hit record high of $514.3 mln

Net premiums written grew 1.3% yr/yr, with gross premiums written up 2.8%

Company repurchased 4.5 mln shares, returning $302 mln to shareholders

Outlook

Company says it expects to exceed 15% after-tax return on equity for the foreseeable future

Result Drivers

INVESTMENT INCOME - Net investment income grew 12.2%, driven by higher invested assets, improved portfolio yields, and strong investment fund income

UNDERWRITING STABILITY - Accident year combined ratio excluding catastrophe losses was 88.3%, reflecting stable underwriting earnings from a diversified model

INSURANCE SEGMENT GROWTH - Gross and net premiums written in the insurance segment increased by 4.5% and 3.2%, respectively, as co grew business where pricing supported attractive returns

Company press release: ID:nBw3MydvPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$1.31
Q1 Net Income
$515.2 mln
Q1 Combined Ratio
90.7%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 12 "hold" and 4 "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy"

Wall Street's median 12-month price target for W. R. Berkley Corp is $68.50, about 3.5% above its April 20 closing price of $66.20

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)