We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
W. R. Berkley (WRB) Forms New Unit for Clients in California
Read MoreHide Full Article
W. R. Berkley Corporation (WRB - Free Report) has formed Berkley Enterprise Risk Solutions to provide workers’ compensation insurance to large businesses in that has headquarters in California. Concurrently, Wayne Bryan has been named president, while Hale Johnston is the chief operating officer of the new unit. Workers' compensation contributed 15% to the Insurance segment’s net premiums written in 2021.
WRB has been establishing new units to cater to demands in emerging markets or risks or increasingly important sectors of the economy. The formation of Berkley Small Business Solutions is in tandem with this strategy. Establishing new units helps consolidate its geographical presence as well as grab market opportunities. With new units consistently thriving and established businesses no longer losing volume, overall growth is ensured. In sync with the strategy, the insurer started two new businesses in 2021.
WRB’s Insurance business has been performing well, reflected by an increase in premiums written in the past many years. This business growth has been achieved on the back of several new startup units in varied business lines (including healthcare, cyber security, energy and agriculture, and growing international markets, including the Asia-Pacific region, South America and Mexico), which have also provided diversification benefits.
Shares of this Zacks Rank #3 (Hold) property and casualty insurer gained 28.2%, better than the industry's decrease of 5.2%. Impressive inorganic and organic growth profile, rate increases, reserving discipline and solid balance sheet should continue to drive shares.
The Zacks Consensus Estimate for HCI Group’s 2022 and 2023 earnings has moved 33.3% and 40% north, respectively, in the past 60 days. In the past year, HCI Group’s stock has lost 33.2%.
The Zacks Consensus Estimate for HCI’s 2022 and 2023 earnings per share indicates a year-over-year increase of 280.9% and 75%, respectively.
American Financial’s earnings surpassed estimates in each of the last four quarters, the average beat being 41.72%. In the past year, American Financial has gained 10.8%.
The Zacks Consensus Estimate for AFG’s 2022 and 2023 earnings has moved 9.8% and 6.9% north, respectively, in the past 60 days.
The bottom line of Cincinnati Financial surpassed earnings estimates in each of the last four quarters, the average being 32.55%. In the past year, CINF stock has lost 0.1%.
The Zacks Consensus Estimate for Cincinnati Financial’s 2022 and 2023 earnings has moved 3.6% and 1.7% north, respectively, in the past 60 days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
W. R. Berkley (WRB) Forms New Unit for Clients in California
W. R. Berkley Corporation (WRB - Free Report) has formed Berkley Enterprise Risk Solutions to provide workers’ compensation insurance to large businesses in that has headquarters in California. Concurrently, Wayne Bryan has been named president, while Hale Johnston is the chief operating officer of the new unit. Workers' compensation contributed 15% to the Insurance segment’s net premiums written in 2021.
WRB has been establishing new units to cater to demands in emerging markets or risks or increasingly important sectors of the economy. The formation of Berkley Small Business Solutions is in tandem with this strategy. Establishing new units helps consolidate its geographical presence as well as grab market opportunities. With new units consistently thriving and established businesses no longer losing volume, overall growth is ensured. In sync with the strategy, the insurer started two new businesses in 2021.
WRB’s Insurance business has been performing well, reflected by an increase in premiums written in the past many years. This business growth has been achieved on the back of several new startup units in varied business lines (including healthcare, cyber security, energy and agriculture, and growing international markets, including the Asia-Pacific region, South America and Mexico), which have also provided diversification benefits.
Shares of this Zacks Rank #3 (Hold) property and casualty insurer gained 28.2%, better than the industry's decrease of 5.2%. Impressive inorganic and organic growth profile, rate increases, reserving discipline and solid balance sheet should continue to drive shares.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the property and casualty insurance industry are HCI Group, Inc. (HCI - Free Report) , American Financial Group, Inc. (AFG - Free Report) and Cincinnati Financial Corporation (CINF - Free Report) . While HCI Group and American Financial sport a Zacks Rank #1 (Strong Buy), Cincinnati Financial carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for HCI Group’s 2022 and 2023 earnings has moved 33.3% and 40% north, respectively, in the past 60 days. In the past year, HCI Group’s stock has lost 33.2%.
The Zacks Consensus Estimate for HCI’s 2022 and 2023 earnings per share indicates a year-over-year increase of 280.9% and 75%, respectively.
American Financial’s earnings surpassed estimates in each of the last four quarters, the average beat being 41.72%. In the past year, American Financial has gained 10.8%.
The Zacks Consensus Estimate for AFG’s 2022 and 2023 earnings has moved 9.8% and 6.9% north, respectively, in the past 60 days.
The bottom line of Cincinnati Financial surpassed earnings estimates in each of the last four quarters, the average being 32.55%. In the past year, CINF stock has lost 0.1%.
The Zacks Consensus Estimate for Cincinnati Financial’s 2022 and 2023 earnings has moved 3.6% and 1.7% north, respectively, in the past 60 days.