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W. R. Berkley Corporation reports recurring developments as an insurance holding company focused on commercial property casualty business. The company operates through Insurance and Reinsurance & Monoline Excess segments, with news commonly covering premiums, underwriting profitability, combined ratios, catastrophe loss effects, investment income and the performance of its fixed-maturity portfolio.
Company updates also include capital management actions such as common-stock dividends and share repurchase authorizations, along with leadership appointments across corporate functions and operating businesses such as Berkley Oil & Gas. Founded in 1967, W. R. Berkley is a commercial lines writer with operations that include insurance and reinsurance activities worldwide.
W. R. Berkley Corporation (NYSE: WRB) has appointed Luis Rivera as the new president of Berkley Global Product Recall, effective immediately. He succeeds Louis Lubrano, who becomes chairman of the business. Rivera brings over 25 years of experience in property and casualty insurance, previously leading general liability underwriting at a major U.S. insurance group. Lubrano, a founding president, will continue to support the team as the chairman.
CEO W. Robert Berkley, Jr. praised Lubrano's contributions and expressed confidence in Rivera's leadership.
W. R. Berkley Corporation (NYSE: WRB) announced the appointment of Michael Marcus as the new president of Berkley Industrial Comp, succeeding Chandler F. Cox, Jr., who now serves as chairman. Marcus, with over 30 years in commercial property and casualty insurance, joined Berkley in 2008 and most recently held a senior vice president role. Cox co-founded the company and has led it since 2000, transitioning its focus from coal mining to diverse high-hazard industries. CEO W. Robert Berkley, Jr. expressed confidence in Marcus's leadership abilities.
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W. R. Berkley Corporation (NYSE: WRB) reported remarkable first-quarter results for 2022, with net income surging 157% to $591 million and a return on equity of 35.5%. Gross premiums written reached $2.86 billion, with net premiums written increasing nearly 18% to a record $2.41 billion. The company also achieved record quarterly underwriting income of $274 million, alongside a net investment gain of $366 million primarily from real estate sales. With an improved combined ratio of 87.8%, Berkley remains optimistic about future opportunities amid a stable investment environment.
W. R. Berkley Corporation (NYSE: WRB) will release its first quarter 2022 earnings on April 25, 2022, after market close. A conference call for analysts and investors is scheduled for the same day at 5:00 p.m. ET. The earnings release will be accessible on the Company’s website, where a live audio webcast of the call will also be available. W. R. Berkley, founded in 1967, is a leading insurance holding company in the United States, focusing on property casualty insurance across two segments: Insurance and Reinsurance & Monoline Excess.
W. R. Berkley Corporation (NYSE: WRB) announced that William R. Berkley and W. Robert Berkley, Jr. will present at the 2022 RBC Capital Markets Global Financial Institutions Virtual Conference on March 8, 2022, at 2:00 p.m. eastern time. The presentation will be accessible via a live webcast on the Company’s website, with a replay available within 24 hours for 90 days. Founded in 1967, W. R. Berkley Corporation is one of the largest commercial lines writers in the United States, operating in the property casualty insurance sectors.
W. R. Berkley Corporation (NYSE: WRB) has approved a 3-for-2 stock split as a stock dividend for shareholders of record on March 9, 2022, with shares issued on March 23, 2022. Additionally, the Board declared a quarterly cash dividend of 13 cents per share, also payable on March 23, 2022. As of February 17, 2022, the company had 176,790,914 shares outstanding. Founded in 1967, W. R. Berkley is a leading insurance holding company in the U.S. and operates globally in property casualty insurance.
W. R. Berkley Corporation (NYSE: WRB) announced the sale of its real estate investment, an office building known as 'The Scalpel' in London, for £718 million, expected to close on March 7, 2022.
The transaction aligns with the company's strategy of enhancing long-term shareholder value in a challenging low-interest-rate environment. The deal is projected to yield an estimated realized pretax gain exceeding $300 million in Q1 2022, subject to final adjustments.
W. R. Berkley Corporation (NYSE: WRB) reported strong financial results for Q4 and full year 2021. Key highlights include a 26.6% growth in net premiums written and a return on equity of 18.7% in Q4. The company achieved record underwriting income of $260.9 million and full year net income of $1 billion. Total capital returned to shareholders amounted to $478.1 million for the year. The firm expects to continue benefiting from pressure on rates and planned growth strategies, positioning itself well amid inflationary trends.
W. R. Berkley Corporation (NYSE: WRB) has appointed Andrew Robinson as the president of its newly formed unit, Berkley Construction Solutions, which aims to offer excess liability insurance for contractors. This strategic move is intended to enhance Berkley's involvement in the vital construction sector. Robinson brings nearly 40 years of experience in property casualty insurance with a specialization in construction. The company remains committed to growing its market presence and delivering dedicated expertise to contractors.