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Compared to Estimates, W.R. Berkley (WRB) Q3 Earnings: A Look at Key Metrics

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For the quarter ended September 2025, W.R. Berkley (WRB - Free Report) reported revenue of $3.69 billion, up 8.2% over the same period last year. EPS came in at $1.10, compared to $0.93 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.67 billion, representing a surprise of +0.42%. The company delivered an EPS surprise of +2.8%, with the consensus EPS estimate being $1.07.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how W.R. Berkley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Loss ratio - Total: 62.4% compared to the 62.5% average estimate based on three analysts.
  • Expense Ratio - Total: 28.5% versus the three-analyst average estimate of 28.7%.
  • Combined Ratio - Total: 90.9% versus the three-analyst average estimate of 91.2%.
  • Loss ratio - Reinsurance & Monoline Excess: 51.3% versus the two-analyst average estimate of 60.2%.
  • Net premiums earned- Insurance: $2.77 billion versus $2.77 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
  • Revenues from non-insurance businesses: $150.34 million compared to the $131.4 million average estimate based on three analysts. The reported number represents a change of +16.9% year over year.
  • Net investment income: $351.24 million versus the three-analyst average estimate of $365.91 million. The reported number represents a year-over-year change of +8.5%.
  • Net premiums earned: $3.16 billion versus $3.15 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.8% change.
  • Net premiums earned- Reinsurance & Monoline Excess: $383.37 million compared to the $371.76 million average estimate based on three analysts. The reported number represents a change of +5.8% year over year.
  • Insurance service fees: $30.92 million versus the three-analyst average estimate of $29.24 million. The reported number represents a year-over-year change of +7.9%.
  • Net investment gains (losses)- Net realized gains on investment sales: $78.8 million versus $-6.42 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -437.3% change.
  • Other income (loss): $0.4 million compared to the $1.3 million average estimate based on two analysts. The reported number represents a change of -34.9% year over year.

View all Key Company Metrics for W.R. Berkley here>>>

Shares of W.R. Berkley have returned +0.9% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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