Insurer W R Berkley's profit jumps on robust underwriting, investment returns [Reuters]
W.R. Berkley Corporation (WRB)
Last w.r. berkley corporation earnings: 4/21 04:10 pm
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US:NYSE Investor Relations:
wrberkley.com/investor-relations.aspx
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Source: Reuters
, opens new tab said on Tuesday its first-quarter profit rose 50% due to strong returns from its investments and a stronger underwriting performance. Higher interest rates have boosted insurers' earnings on their debt securities portfolio, while their returns from equity investments have also surged as stock market rallies on hopes of a soft landing. Greenwich, Connecticut-based W R Berkley's net investment income jumped 43% to $319.8 million in the first quarter, and net premiums written grew nearly 11%, as businesses revived spending on insurance policies due to easing concerns of a recession. The 57-year-old company's insurance division caters to commercial clients in the United States and other international markets, while its Reinsurance & Monoline Excess unit provides coverage to other insurers to help them manage their risk. First-quarter profit for W R Berkley's common stockholders rose to $442.5 million, or $1.64 per share, compared with $294.1 million or $1.06 per s
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WRB
News
- W. R. Berkley Co. (NYSE: WRB) had its price target lowered by analysts at Keefe, Bruyette & Woods from $88.00 to $86.00. They now have a "market perform" rating on the stock.MarketBeat
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- W. R. Berkley Co. (NYSE: WRB) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- W. R. Berkley First Quarter 2024 Earnings: EPS Beats Expectations [Yahoo! Finance]Yahoo! Finance
WRB
Earnings
- 4/23/24 - Beat
WRB
Sec Filings
- 5/3/24 - Form 10-Q
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- WRB's page on the SEC website