W. R. Berkley Corporation (WRB) – NYSE: Q2 2025 Financial Results Summary

# W. R. Berkley Corporation (WRB) NYSE: Q2 2025 Results

**Release Date: July 21, 2025**

W. R. Berkley Corporation (NYSE: WRB) has reported its financial results for the second quarter of 2025, reflecting continued strong performance in several key areas.

## Key Financial Highlights

– **Net Premiums Written**
– Increased to a record **$3.4 billion**, a **growth of 7.2%** from **$3.0 billion** in Q2 2024.

– **Net Income**
– Available to common stockholders was **$401.3 million**, representing a **growth of 7.9%** compared to **$371.9 million** in Q2 2024.

– **Earnings Per Share**
– Net income per diluted share rose to **$1.00**, reflecting a **growth of 8.7%** from **$0.92** in the same quarter last year.

– **Operating Income**
– Operating income for the quarter was **$420.5 million**, an **increase of 2.6%** from **$410.2 million** in Q2 2024.
– Operating income per diluted share was **$1.05**, compared to **$1.02** a year earlier.

– **Return on Equity (ROE)**
– Reported at **19.1%**, a **decrease from 20.0%** in Q2 2024, but the operating return on equity came in at **20.0%**, down from **22.0%**.

– **Combined Ratio**
– The GAAP combined ratio was reported at **91.6%**, slightly worsening from **91.1%** in Q2 2024.

– **Net Investment Income**
– Reached a record of **$379.3 million**, up from **$372.1 million**, marking a **growth of 1.4%** year-over-year.

– **Book Value Per Share**
– Increased by **6.8%** to **$24.50** from **$22.09** during the same quarter last year.

## Shareholder Returns

– **Total Capital Returned to Shareholders**
– Totaled **$223.8 million**, which consisted of:
– **Special Dividends:** **$189.7 million**
– **Ordinary Dividends:** **$34.1 million**

– **Share Repurchase**
– No share repurchases took place during the quarter; however, the company bought back **850,000 shares** for **$49.2 million** during the first half of 2025.

## Operational Insights

– **Accident Year Combined Ratio**
– Before catastrophe losses, the loss ratio was **88.4%,** indicating a **spill of 3.2 loss ratio points** from the previous year’s ratio.
– Current accident year catastrophe losses amounted to **$99.2 million.**

– **Average Rate Increases**
– Excluding workers’ compensation, average rate increases were approximately **7.6%**.

## Company Performance Overview

– The steady performance of W. R. Berkley was driven by:
– Higher underwriting gains alongside improved investment income.
– Record net premiums written showcased a strategic focus on business with higher margin potential.
– Growth in net investable assets and operating cash flow supported ongoing investment income growth.

– The company expresses confidence in its disciplined approach to managing the underwriting cycle, which has historically led to strong risk-adjusted returns and lower volatility.

## Conclusion

W. R. Berkley Corporation’s financial performance for Q2 2025 reflects solid growth in key metrics, despite slight declines in return on equity and the combined ratio. The company’s strategic focus on high-margin business segments, along with robust investment income, positions it well for future growth.