---
schema_version: "secwatch.filing_event.v1"
accession: "0000011544-23-000006"
form_type: "8-K"
ticker: "WRB"
cik: "0000011544"
company_name: "BERKLEY W R CORP"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:15:15.154436+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# W.R. Berkley Q1 net income falls to $294M from $591M; ROE 17.4%

## Summary
- Net income $294.1M ($1.06 diluted EPS), down from $590.6M ($2.12) YoY.
- Operating income $276.0M ($1.00 EPS) vs $306.9M ($1.10) in prior year.
- Net investment income $223.4M, up 28.8%; core portfolio +80.7%.
- Combined ratio 90.6% (87.7% ex-cat); prior-year cat losses ~$24M.
- Returned $293.8M to shareholders: $132.3M special dividend, $135.2M buybacks.

## SEC filing metadata
- accession: 0000011544-23-000006
- form_type: 8-K
- ticker: WRB
- cik: 0000011544
- company_name: BERKLEY W R CORP
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/11544/000001154423000006/0000011544-23-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/11544/000001154423000006/wrb-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000011544-23-000006
- JSON: https://secwatch.observer/filing/0000011544-23-000006.json
- Plain text: https://secwatch.observer/filing/0000011544-23-000006.txt

## Key facts
- Earnings Releases
  BERKLEY W R CORP reported first quarter of 2023 results: revenue $2,574,824, net income $294,126, EPS $1.06.
  - Period: first quarter of 2023
  - Revenue: $2,574,824
  - Net income: $294,126
  - EPS: $1.06
  - Result: reported results
  source text: Summary Financial Data (Amounts in thousands, except per share data) First Quarter 2023 2022 Gross premiums written $ 3,049,317 $ 2,859,837 Net premiums written 2,574,824 2,413,254 Net income to common stockholders 294,126 590,638 Net income per diluted share 1.06 2.12
  evidence_url: https://www.sec.gov/Archives/edgar/data/11544/000001154423000006/0000011544-23-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.