- W. R. Berkley (WRB, Financial) reported a 10% increase in net premiums written, reaching a record $3.1 billion in Q1 2025.
- The company's return on equity stood at a strong 19.9%, despite significant catastrophe losses totaling $111.1 million.
- Net investment income saw a growth of 12.6%, amounting to $360.3 million for the quarter.
W. R. Berkley Corporation (WRB) announced its financial results for the first quarter of 2025, showcasing notable growth in several key metrics. The company achieved a record $3.1 billion in net premiums written, marking a 10% year-over-year increase. The robust premium growth occurred alongside a disciplined underwriting approach, with a combined ratio of 90.9%, which included 3.7 points attributed to catastrophe losses of $111.1 million.
Despite the challenges posed by elevated catastrophe losses, WRB delivered a commendable return on equity of 19.9%. This figure, while lower than the previous year's 23.7%, remains exceptionally strong in the property-casualty insurance sector. Favorable pricing conditions contributed to an average rate increase of 8.3%, excluding workers' compensation, enhancing the company's underwriting profitability.
The company's investment operations also performed well, with net investment income climbing 12.6% to $360.3 million. This increase was largely driven by an improvement in investment fund performance. WRB's net invested assets reached a record $30.7 billion, supported by strong operating cash flow of $743.8 million, positioning the company for continued investment income growth.
Overall, WRB's first-quarter results reflect effective capital management and a resilient underwriting strategy amidst a challenging environment, aligning the company for sustained shareholder value creation throughout 2025.
