W. R. Berkley falls after Q3 revenue misses Wall Street estimates

W. R. Berkley

22/10/2024 13:50

** Commercial insurer W. R. Berkley  WRB.N  down ~1.6% to
$60.04 premarket
    ** Co after market on Tuesday reported Q3 revenue $3.4 bln,
missing Wall Street views of $3.44 bln, according to estimates
compiled by LSEG 
    ** WRB's net investment income came in at $323.8 mln in the
quarter, less than estimates of $328.3 mln 
    ** Insurers invest a portion of the cash earned from
premiums into a portfolio of low-risk assets, such as bonds,
which are sensitive to market fluctuations 
    ** Co reported Q3 operating income of 93 cents per share, a
cent higher than Street expectations
    ** As of last close, stock up ~30% YTD outperforming the
benchmark S&P 500 which is up 22.7% over the same period

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))