W.R. Berkley Corporation has registered a net income to common stockholders of $417.6m in the first quarter of 2025 (Q1 2025), a 5.6% decrease compared with $442.4m in the same quarter of previous year.
The company also experienced a slight reduction in net income per diluted share, which fell to $1.04 from $1.09 in the same period in 2023.
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The company’s operating income for the quarter was $404.7m, down from $423.3m in Q1 2024.
W.R. Berkley Corporation saw an increase in net premiums written, which rose to $3.1bn from $2.8bn in the same quarter of the previous year.
Insurance net premiums written improved to $2.7bn from $2.4bn in Q1 2024, while for Reinsurance & Monoline Excess the figure climbed to $438.8m from $405.5m over the same period.
The 10% growth in net premiums written was attributed to favourable market conditions, particularly in the insurance segment.
Including current accident year catastrophe losses of $111.1m, the reported combined ratio stood at 90.9%.
The company’s return on equity decreased to 19.9% for the quarter from 23.7% in the previous year.
In the three months ending 31 March 2025, W.R. Berkley repurchased 850,000 shares of its common stock at a cost of $49.2m.
Last month, the company disclosed that Japanese insurer Mitsui Sumitomo Insurance has agreed to acquire 15% of W.R. Berkley Corporation’s outstanding common stock, contingent on regulatory approvals, with the transaction expected to be finalised by the end of March 2026.
In the same month, the company also launched Berkley Embedded Solutions to provide customised insurance offerings at the point of purchase by integrating technology with “digital-first” insurance solutions.
