earnings
confidence high
sentiment positive
materiality 0.75
W.R. Berkley Q3 2022 operating ROE 16.9%; net investment income up 51%
BERKLEY W R CORP
2022-Q3 EPS reported
$3.57
revenue$8,152,697,000
- Operating income $281.8M (+14.2% YoY); operating EPS $1.01.
- Record gross premiums $3.08B (+10.6%); net premiums $2.58B (+10.8%).
- Net investment income rose 51% to record quarterly level.
- Pre-tax underwriting income $192.1M; combined ratio 92.1% incl. $94.1M cat losses.
- Average rate increases ex-workers comp ~7.3%; company remains optimistic.