W. R. Berkley's Q2 EPS up, gross premiums rise 4%
W. R. Berkley's Q2 EPS up, gross premiums rise 4%
Overview
U.S. commercial P&C insurer's Q2 EPS rose
Gross premiums written hit record $4.1 bln, up 4% yr/yr
Company returned $334 mln to shareholders via dividends and buybacks
Outlook
Company says it continues to see attractive opportunities in select liability lines
Company says current reinvestment rates exceed annual book yield, providing opportunity and flexibility
Result Drivers
UNDERWRITING DISCIPLINE - Co said strong underwriting performance and focus on risk-adjusted returns drove results
INVESTMENT INCOME - Higher yields and growth in invested assets led to record net investment income, per management
FAVORABLE PRICING - Co cited attractive opportunities and favorable pricing in select liability lines as supporting premium growth
Company press release: ID:nBw5b7qrJa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $1.15 |
|
Q2 Combined Ratio |
| 90.00% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 13 "hold" and 6 "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 $68.00, about 5% below its July 17 closing price of $71.61
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago
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(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.)
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