Financial PerformanceThe combined ratio of 85.4% was much better than consensus expectation of 89.2%, supported by stronger premium growth of 8.2% and an improving core loss ratio of 50.0%.
Investment IncomeNet investment income of $360 million is above the consensus expectation of $347 million, supported by higher new money rates and improvements in investment fund income.
Strategic InvestmentsJapanese insurer Mitsui Sumitomo entered into an agreement with WR Berkley to acquire a 15% stake in the company from third parties, which could signal confidence in WRB's operations.