Morgan Stanley Starts W.R. Berkley (WRB) at Equalweight

Morgan Stanley analyst Bob Huang initiates coverage on W.R. Berkley (NYSE: WRB) with a Equalweight rating and a price target of $65.00.

The analyst comments: "WR Berkley is comprised of 60+ independent operating units that serve distinct markets requiring specialized knowledge of various geographies, LOBs, and type of business. The decentralized corporate structure allows Berkley to respond quickly to changing market conditions and better understand client needs/risk characteristics. The Insurance segment accounts for ~88% of the total ~$11.0 billion NWP as of YE2023 and underwrites predominately commercial lines (E&S, admitted, & specialty personal) globally. As growth in the specialty/E&S space accelerates (driven by weather-related risks and social inflation), we expect 2025e/2026e net written premium growth to be 8.5%/6.0% for this segment along with 91.9%/91.9% combined ratios, assuming no adverse PYD."

For an analyst ratings summary and ratings history on W.R. Berkley click here. For more ratings news on W.R. Berkley click here.

Shares of W.R. Berkley closed at $63.66 yesterday.

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