W. R. Berkley reports Q3 EPS $1.10, consensus $1.10

Reports Q3 revenue $3.77B, consensus $3.15B. Management commented: “The company delivered strong third quarter results highlighted by a 24.3% return on beginning of year shareholders’ equity, reflecting continued strength in both underwriting and investment income. Book value per share increased 5.8%, before dividends and share repurchases. Our decentralized structure and focus on specialty niche markets continue to differentiate us, enabling growth while maintaining rate adequacy and underwriting discipline. This approach resulted in another strong quarterly combined ratio of 90.9%. Fixed-maturity investment income increased 9.8% over the corresponding period of 2024. The Company’s new money rate continues to exceed the book yield of our fixed-maturity securities. The strength of our operating cash flow continues to grow our investable assets and will continue to make a positive contribution to investment income. Our disciplined underwriting, anchored in our focus on long-term risk-adjusted return, continues to drive superior performance across market cycles. We believe the Company remains well-positioned to create exceptional value for our shareholders throughout the remainder of 2025 and beyond.”