Fri, May 2, 8:19 PM (15 days ago)
**W. R. Berkley Corporation (WRB) Q1 2025 Financial Performance** **Revenue and Profit Margins:** - **Revenue:** WRB reported total revenues of $3,547.4 million for Q1 2025, up from $3,256.8 million in Q1 2024. - **Net Income:** Net income to common stockholders was $417.6 million, down from $442.5 million in Q1 2024. - **Earnings per Share (EPS):** Basic EPS was $1.05, down from $1.10 in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** $743.8 million, slightly down from $746.2 million in Q1 2024. - **Investing Cash Flow:** $(924.4) million, compared to $(905.1) million in Q1 2024. - **Financing Cash Flow:** $(81.4) million, compared to $(29.7) million in Q1 2024. **Key Performance Metrics:** - **Net Premiums Written:** $3,133.3 million, up from $2,851.3 million in Q1 2024. - **Net Premiums Earned:** $3,012.4 million, up from $2,764.3 million in Q1 2024. - **Loss Ratio:** 63.1%, up from 60.2% in Q1 2024. - **Expense Ratio:** 27.8%, down from 28.6% in Q1 2024. - **Combined Ratio:** 90.9%, up from 88.8% in Q1 2024. **Investment Performance:** - **Net Investment Income:** $360.3 million, up from $319.8 million in Q1 2024. - **Net Investment Gains:** $16.4 million, down from $25.8 million in Q1 2024. **Segment Performance:** - **Insurance Segment:** Gross premiums written increased by 10% to $3,217 million. The loss ratio was 63.9%, and the combined ratio was 91.7%. - **Reinsurance & Monoline Excess Segment:** Gross premiums written increased by 6% to $467 million. The loss ratio was 57.7%, and the combined ratio was 85.4%. **Trends and Uncertainties:** - WRB experienced higher catastrophe losses in Q1 2025, primarily due to California wildfires. - The company continues to face challenges from social inflation, particularly impacting auto-related claims. - WRB's investment portfolio is subject to market risks, including fluctuations in credit quality and interest rates. **Future Operations Impact:** - WRB plans to continue its strategy of forming new operating units to capitalize on business opportunities. - The company will focus on maintaining a balanced investment portfolio and managing risks associated with its insurance and reinsurance businesses. **Ticker:** WRB