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Compared to Estimates, W.R. Berkley (WRB) Q4 Earnings: A Look at Key Metrics

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For the quarter ended December 2025, W.R. Berkley (WRB - Free Report) reported revenue of $3.72 billion, up 5.9% over the same period last year. EPS came in at $1.13, compared to $1.13 in the year-ago quarter.

The reported revenue represents a surprise of -0.94% over the Zacks Consensus Estimate of $3.75 billion. With the consensus EPS estimate being $1.14, the EPS surprise was -0.59%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 61.2% compared to the 61.4% average estimate based on three analysts.
  • Expense Ratio - Total: 28.2% compared to the 28.6% average estimate based on three analysts.
  • Combined Ratio - Total: 89.4% compared to the 90% average estimate based on three analysts.
  • Loss ratio - Reinsurance & Monoline Excess: 51.9% compared to the 58.2% average estimate based on two analysts.
  • Net premiums earned- Insurance: $2.79 billion compared to the $2.84 billion average estimate based on three analysts. The reported number represents a change of +5.8% year over year.
  • Revenues from non-insurance businesses: $169.34 million versus $159.47 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.9% change.
  • Net investment income: $338.23 million versus $362.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.6% change.
  • Net premiums earned: $3.18 billion versus $3.22 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
  • Net premiums earned- Reinsurance & Monoline Excess: $388.26 million compared to the $378.73 million average estimate based on three analysts. The reported number represents a change of +4.3% year over year.
  • Insurance service fees: $25.9 million versus the three-analyst average estimate of $27.72 million. The reported number represents a year-over-year change of -5.3%.
  • Net investment gains (losses)- Net realized gains on investment sales: $5.63 million versus $49.46 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -96.3% change.
  • Other income (loss): $2.02 million versus the two-analyst average estimate of $1.02 million. The reported number represents a year-over-year change of +213.2%.

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

Shares of W.R. Berkley have returned -4.9% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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