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WRB · NYSE · Insurance - Property & Casualty

W. R. Berkley

Underwrites specialty commercial insurance, reinsurance, and excess-only risk through decentralized businesses.

$70.65
After-hours close+2.19 (+3.20%)
At close$68.46(+0.18%)
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Profile

W. R. Berkley CorporationWRBFinancials

Underwrites commercial property-and-casualty insurance across specialty, excess and surplus, admitted, and selected personal lines, while a smaller segment writes reinsurance and monoline excess. Specialized operating businesses make underwriting decisions near their markets, backed by centralized capital, investment, reinsurance, actuarial, risk, and compliance functions.

Underwrites predominantly commercial property-and-casualty insurance through the Insurance segment, spanning excess and surplus, admitted, industry-specialty, workers' compensation, commercial auto, professional liability, property, surety, and specialty personal lines. Reinsurance & Monoline Excess adds facultative and treaty reinsurance, excess-only risk retention, and program management. Most premiums come from Insurance and U.S. business, supplemented by operations across Europe, Asia-Pacific, Canada, Latin America, and other international markets.

Organizes underwriting in specialized businesses close to customers, letting local teams price niche risks while centralizing capital, investments, reinsurance, actuarial support, finance, enterprise risk, and compliance. Earnings depend on pricing coverage before claims emerge and estimating reserves before ultimate losses are known; regulated insurance subsidiaries also face solvency rules and limits on dividends to the holding company.

Company facts

CEOWilliam Robert Berkley Jr.
ListedOct 23, 1973
ExchangeNYSE
HeadquartersGreenwich, CT
CountryUnited States
Employees8,804
CIK0000011544
ISINUS0844231029

Categories

Key statistics

Market cap$25.48B
EPS (ttm)$4.87
P/E (ttm)14.05
ROE19.6%
P/B2.61
P/S1.41
Dividend yield0.26%
Beta−0.30vs XLF 0.75

Year to date −1.3% · Average volume (30d) 1.7M

Analysts

Price target, next 12 months$70.00+2.3%Median of 30 analysts · vs the Aug 28 close
ConsensusHold7 of 30 analysts rate it buy or better

Ratings

Target range

Latest analyst notes

DateFirmActionPrior ratingRatingPrior targetTarget
Jul 27, 2026UBSReiterateNeutral$68$77
Jul 21, 2026Mizuho SecuritiesTarget$72$74
Jul 21, 2026OppenheimerTarget$70
Jul 16, 2026B of A SecuritiesDowngradeNeutralUnderperform
Jul 15, 2026Atlantic EquitiesTarget$74

Earnings

EPS

Estimate$1.13
ReportedDue Oct 19, 2026

Revenue

Estimate$3.77B
ReportedDue Oct 19, 2026

History

Report dateEPS estEPSSurpriseRevenue estRevenueSurpriseNext session
Jul 20, 2026Q2 FY26$1.08$1.27+17.6%$3.28B$3.72B+13.2%−0.78%
Apr 21, 2026Q1 FY26$1.13$1.30+15.0%$3.19B$3.12B−2.4%+3.21%
Jan 26, 2026Q4 FY25$1.13$1.130.0%$3.14B$3.18B+1.1%+0.52%
Oct 20, 2025Q3 FY25$1.11$1.10−0.9%$3.15B$3.77B+19.5%+2.07%
View details

Financial highlights

12 quartersQ1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$3.55B$3.67B$3.77B$3.72B$3.69B$6.83B
Gross profit$785.1M$676.1M$687.1M$765.5M$1.75B$4.87B
Operating income$538.6M$521.9M$667.3M$606.5M$616.1M$575.2M
Net income$417.6M$401.3M$511.0M$449.5M$515.2M$452.3M
Diluted EPS$1.04$1.00$1.28$1.13$1.31$1.15
Gross margin22.1%18.4%18.2%20.6%47.5%71.3%
Operating margin15.2%14.2%17.7%16.3%16.7%8.4%

Fiscal years (4-quarter sums)FY21 $9.46B · FY22 $11.17B · FY23 $12.14B · FY24 $13.64B · FY25 $14.71B

Revenue by product · Q2 FY26

Reinsurance-Global Segment$432.1M · 100%

Balance sheet, Jun 30, 2026Cash & short-term investments $29.78B · Total debt $2.84B · Total assets $45.68B · Shareholders' equity $10.20B

Dividends

Next ex-date
Feb 23, 2027
estimated · in 178 days
Annual dividend
$0.18
per share
Dividend yield
0.26%
Schedule
Semi-annual
2 payments a year

Raised for 2 straight years — most recently to $0.09 from $0.08 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.

History

Ex-dateRecordPaidAmountNote
Jun 23, 2026Jun 23Jul 2$0.60special dividend
Feb 23, 2026Feb 23Mar 4$0.09
Dec 15, 2025Dec 15Dec 29$1.09special dividend
Sep 22, 2025Sep 22Sep 30$0.09raised from $0.08
Jun 23, 2025Jun 23Jun 30$0.59special dividend
Mar 3, 2025Mar 3Mar 12$0.08raised from $0.0733 split-adjusted
Dec 16, 2024Dec 16Dec 27$0.58special dividend
Sep 23, 2024Sep 23Sep 30$0.33special dividend
View details

Ownership

Institutions 81.37%302.94M sharesInsiders 6.42%23.88M sharesOther 12.21%45.46M shares

Shares outstanding 372.28M · Float 243.46M · 65.4% free float

Top shareholders13F · 13D/G · Form 4

HolderShares% outstandingFormFiled
The William R. Berkley 2011 GST Trust u/a dated December 20, 201195.56M25.67%13DJul 21, 2026
Mitsui Sumitomo Insurance Co Ltd58.78M15.79%13FAug 13, 2026
BlackRock, Inc.21.93M5.89%13FAug 7, 2026
Vanguard Capital Management LLC18.69M5.02%13FAug 13, 2026
Vanguard Portfolio Management LLC14.55M3.91%13FAug 13, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Mar 2, 2026Mitsui Sumitomo Insurance Co Ltd10 percent owner+146,000$72.92
Mar 3, 2026Mitsui Sumitomo Insurance Co Ltd10 percent owner+112,176$72.20
Feb 26, 2026Mitsui Sumitomo Insurance Co Ltd10 percent owner+153,000$71.67
Feb 27, 2026Mitsui Sumitomo Insurance Co Ltd10 percent owner+147,000$71.63
Feb 23, 2026Mitsui Sumitomo Insurance Co Ltd10 percent owner+220,000$71.15
View details

Peers

CompareAfter-hours close

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Median10.010.61.4−0.3%