W.R. Berkley Corporation has reported its third-quarter 2025 results, showcasing significant growth across various financial metrics. Net income to common stockholders increased by 39.8% to $511.0 million, with a return on equity of 24.3% and operating return on equity of 21.0%.
Comparing to the same period last year, gross premiums written increased to $3.8 billion from $3.6 billion, while net premiums written rose to $3.2 billion from $3.1 billion. Additionally, net income per diluted share jumped to $1.28 from $0.91.
Operating income saw a notable increase as well, reaching $440.2 million compared to $393.0 million in the third quarter of 2024. The return on equity also surged from 19.6% to 24.3% while the operating return on equity slightly decreased from 21.1% to 21.0%.
The company's average rate increases, excluding workers' compensation, were approximately 7.6%, and the current accident year combined ratio before catastrophe losses was reported at 88.4%.
Furthermore, the company reported a record common stockholders' equity of $9.8 billion, and the book value per share grew by 5.8% before dividends and share repurchases.
Management commented on the robust third-quarter results, emphasizing the company's strength in underwriting and investment income, driven by its decentralized structure and focus on specialty niche markets.
The company's fixed-maturity investment income saw a significant increase of 9.8% over the corresponding period of 2024, while the new money rate continues to exceed the book yield of its fixed-maturity securities. This, coupled with the strength of its operating cash flow, has contributed to the growth of investable assets and a positive impact on investment income.
The company's disciplined underwriting, anchored in its focus on long-term risk-adjusted return, has been identified as a key driver of superior performance across market cycles.
Today the company's shares have moved -0.77% to a price of $73.48. Check out the company's full 8-K submission here.
