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 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.
W. R. Berkley Corporation (NYSE: WRB) will announce its Q4 and FY 2021 earnings after market close on January 27, 2022. The earnings release will be accessible on the Company’s website www.berkley.com. A conference call for analysts and investors is scheduled for 5:00 p.m. ET the same day, with a live audio webcast available on the website. Founded in 1967, Berkley is a major player in the property casualty insurance sector in the US and operates globally across two segments: Insurance and Reinsurance & Monoline Excess.
W. R. Berkley Corporation (NYSE: WRB) will present at the 2021 UBS Specialty Insurance Conference on December 14, 2021, at 12:00 p.m. ET. Executive Chairman William R. Berkley and CEO W. Robert Berkley Jr. will lead the presentation, which will be available via webcast on the company’s website. Attendees are advised to log on 10 minutes early. A replay will be accessible within 24 hours for approximately 90 days. Founded in 1967, W. R. Berkley Corporation is a major player in the commercial insurance sector in the U.S.
W. R. Berkley Corporation (NYSE: WRB) has appointed James Hastings as president of W. R. Berkley Syndicate Management Limited, effective February 22, 2022. Hastings brings nearly 20 years of experience in the insurance industry, focusing on international markets. He is expected to take on the role of CEO later in 2022, pending regulatory approval. David Brosnan will remain CEO during the transition and stay on the Board. W. R. Berkley operates globally in property casualty insurance across two segments: Insurance and Reinsurance.
W. R. Berkley Corporation (NYSE: WRB) has declared a special cash dividend of $1.00 per share, payable on December 22, 2021, for stockholders of record by December 7, 2021. This follows a previous $0.50 per share dividend in July, totaling $1.50 for special dividends in 2021. The Board has also authorized a regular quarterly cash dividend of 13 cents per share, due on the same date. Total capital returned to shareholders in 2021 is approximately $478 million. Additionally, the share repurchase authorization has been increased to 10 million shares.
W. R. Berkley Corporation (NYSE: WRB) has announced the appointment of John Henle as president of Union Standard Insurance Group, effective immediately. He succeeds B. Keith Mitchell, who has transitioned to the role of chairman. Henle brings over 20 years of multi-line insurance experience, having served as head of district operations at a major U.S. property casualty firm. Mitchell, who joined Union Standard in 1998, will continue to contribute his insights and expertise as chairman.
W. R. Berkley Corporation (NYSE: WRB) has appointed Daniel Smyrl as president of Admiral Insurance Group, succeeding Curtis E. Fletcher, who becomes chairman. This leadership transition is effective immediately. Smyrl, who joined Admiral in 2002, brings nearly 40 years of insurance experience, having previously served as executive vice president of underwriting. Fletcher has been with Admiral for 23 years and will continue to contribute strategically as chairman. Both appointments are expected to support Admiral's ongoing success in the insurance market.
W. R. Berkley Corporation (NYSE: WRB) reported a 72.3% increase in third-quarter net income, totaling $261.3 million, with a return on equity of 16.6%. Gross premiums written rose to $2.79 billion, a 23.7% increase year-over-year. Net investment income increased by 26.1% to $179.9 million, while operating income surged 103.6% to $246.7 million. The combined ratio was 90.4%, influenced by $73.8 million in catastrophe losses. The company anticipates continued growth in premiums and underwriting profits, bolstered by a strong pricing environment.
W. R. Berkley Corporation (NYSE: WRB) will release its Q3 2021 earnings on October 21, 2021, after market close. A conference call with analysts is scheduled for the same day at 5:00 p.m. ET to discuss earnings and other information. Investors can access the earnings release and the live webcast on the company’s website: www.berkley.com. Established in 1967, Berkley is one of the largest commercial lines writers in the U.S., operating in property casualty insurance.
AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to W. R. Berkley Corporation (WRB) for its forthcoming $350 million, 3.150% senior unsecured notes, due September 2061. The rating outlook is stable. The proceeds will be utilized for general corporate purposes. Following the issuance, WRB’s financial leverage is expected to remain compliant with AM Best’s guidelines, with a projected debt-to-total capital of 27.2% and coverage metrics exceeding five times.