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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 established Lifson Re Ltd., a special purpose insurer in Bermuda, with over $250 million in equity from global investors, including W. R. Berkley Corporation. The new entity will engage in reinsurance treaties starting January 1, 2021, managing a diverse portfolio alongside traditional reinsurers. This strategic move aims to better manage risk and capital while enhancing partnerships with alternative capital sources and maintaining strong ties with traditional reinsurers.
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W. R. Berkley Corporation (NYSE: WRB) has appointed Thomas Joyce as president of Nautilus Insurance Group, effective January 1, 2021, succeeding Thomas M. Kuzma, who becomes chairman. Joyce, a 35-year industry veteran, joined Nautilus in 2015 and has held several key positions, including chief underwriting officer. Kuzma, who has been with Nautilus since its inception in 1986, will continue to leverage his experience for the company's growth. Berkley CEO W. Robert Berkley, Jr. praised both leaders for their contributions and commitment to enhancing Nautilus's service and partnerships.
W. R. Berkley Corporation (NYSE: WRB) reported strong third quarter results for 2020. Gross premiums written reached $2.26 billion, up 8.1% year-over-year, while net income to common stockholders was $151.68 million, yielding a diluted EPS of $0.81. The combined ratio stood at 93.7%, impacted by 4.2 points from catastrophes. Book value per share grew 3.7%, and cash and liquid investments exceeded $1.6 billion. The company emphasized its focus on profitable underwriting amidst economic challenges posed by COVID-19, indicating a resilient performance in turbulent times.