W. R. Berkley's Q2 EPS up, gross premiums rise 4%
WRB•Quarterly results
W. R. Berkley's Q2 EPS rose as gross premiums written hit a record $4.1 billion, up 4% year over year.
Key details from the company press release:
| Metric | Actual |
|---|---|
| Q2 EPS | $1.15 |
| Q2 combined ratio | 90.00% |
The company returned $334 million to shareholders via dividends and buybacks.
What drove the quarter
The company said strong underwriting performance and a focus on risk-adjusted returns drove results.
Higher yields and growth in invested assets led to record net investment income, according to management.
The company also cited attractive opportunities and favorable pricing in select liability lines as supporting premium growth.
Outlook and analyst coverage
W. R. Berkley said it continues to see attractive opportunities in select liability lines.
The company also said current reinvestment rates exceed annual book yield, providing opportunity and flexibility.
The current average analyst rating on the shares is , with strong buy or buy ratings, hold ratings and sell or strong sell ratings. The average consensus recommendation for the property & casualty insurance peer group is .
