Welcome to our dedicated page for W.R Berkley news (Ticker: WRB), a resource for investors and traders seeking the latest updates and insights on W.R Berkley stock.
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.
AM Best has affirmed the Long-Term Issuer Credit Rating of 'a-' (Excellent) for W. R. Berkley Corporation (NYSE: WRB) and a Financial Strength Rating (FSR) of A+ (Superior) for its subsidiaries. The Berkley Group's ratings reflect its strong balance sheet strength, strong operating performance, and effective enterprise risk management. Despite demonstrating higher leverage than peers at 34.1%, consistent earnings and cash flows are noted. Berkley Life and Health has seen premium growth, although it reported a decline in 2020 due to strategic restructuring.
W. R. Berkley Corporation (NYSE: WRB) has launched a new operating unit, Berkley Management Protection, aimed at providing management liability products via an innovative platform designed for independent agents. This proprietary software will enable instant quoting and access to underwriting expertise, enhancing the responsiveness of agents to customer needs. Charles E. Thompson, with 26 years of management experience, has been appointed as president. This new unit is expected to complement existing operations and expand offerings in the professional liability sector.
W. R. Berkley Corporation (NYSE: WRB) has appointed Linda A. Eppolito as president of Berkley Oil & Gas, succeeding Carol A. Randall, who becomes chairman. Eppolito, with 27 years of experience in the property and casualty insurance sector, previously served as chief financial officer and joined the company in 2010. Randall has been instrumental in developing Berkley Oil & Gas since 2009 and will continue to provide guidance. CEO W. Robert Berkley, Jr. praised both women's contributions, emphasizing a smooth transition and a promising future for the company.
Summary not available.
W. R. Berkley Corporation (NYSE: WRB) reported robust financial results for the first quarter of 2021, showcasing significant growth across key metrics. Gross premiums written increased to $2,484,712, up from $2,231,372 in 2020. Net premiums written also saw a rise, reaching $2,050,038 compared to $1,845,846 last year. The company posted a net income of $229,525, a notable recovery from a loss of $4,418 in the previous year. Additionally, operating income rose to $201,780 from $132,623, reflecting a strong operational performance.
W. R. Berkley Corporation (NYSE:WRB) announced the redemption of its $290 million in 5.75% Subordinated Debentures due 2056. The redemption date is set for June 1, 2021, with the price equal to the principal plus accrued interest. Registered holders will receive a detailed Notice of Redemption from The Bank of New York Mellon, the trustee. Founded in 1967, W. R. Berkley is one of the largest commercial lines writers in the U.S., operating in property casualty insurance through its Insurance and Reinsurance segments.
W. R. Berkley Corporation (NYSE: WRB) will announce its Q1 2021 earnings on April 20, 2021, after market close. The earnings release will be available on the company's website at www.berkley.com. Following this, a conference call will take place the same day at 5:00 p.m. ET, where analysts and investors can discuss the earnings report. A live audio webcast will be accessible through the website, and a replay will be available two hours post-call.
AM Best has rated W. R. Berkley Corporation (WRB) with a Long-Term Issue Credit Rating of “a-” for its $400 million, 3.55% senior unsecured notes due March 2052. The stable outlook indicates financial stability. Proceeds will repay the $76.5 million of existing 8.700% senior unsecured notes and part of the $350 million of 4.625% notes due 2022. Post-issuance, WRB's debt-to-total capital is projected at 26.9%, maintaining compliance with AM Best's guidelines.
W. R. Berkley Corporation (NYSE: WRB) has priced a $400 million offering of 3.550% Senior Notes due 2052. This issuance is set to close on March 16, 2021, pending customary conditions. The proceeds will primarily be utilized to repay $76.5 million of 8.700% Senior Notes due 2022 and assist in settling $350 million of 4.625% Senior Notes due 2022. Major underwriters include BofA Securities, Credit Suisse, J.P. Morgan, and Morgan Stanley. A registration statement for the Notes has been filed with the SEC.
Summary not available.