W.R. Berkley (WRB) Misses Q1 EPS by 4c

W.R. Berkley (NYSE: WRB) reported Q1 EPS of $0.69, $0.04 worse than the analyst estimate of $0.73.

First quarter highlights included:

• Net premiums written increased 8.0%.
• Average rate increases excluding workers' compensation were approximately 12%.
• The accident year combined ratio excluding catastrophe losses was 91.9%. The reported combined ratio was 96.9%.
• Catastrophes added 5.2 loss ratio points to the reported combined ratio, including a preliminary provision of 3.9 loss ratio points for COVID-19 related losses.
• Net investment income increased 10.4%.
• Total capital returned to shareholders was $223 million, including $203 million of share repurchases and $20 million of ordinary dividends.
• Cash and liquid investments of more than $1.3 billion at the holding company.

For earnings history and earnings-related data on W.R. Berkley (WRB) click here.

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