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WRB's Insurance segment generated $11.18 billion in 2025 net premiums written, up from 2024.
The Insurance segment's 91.7% combined ratio in 2025 reflected strong underwriting profitability.
WRB combines underwriting earnings with investment income to support profitable growth and returns.
W. R. Berkley Corporation (WRB - Free Report) , one of the nation’s largest commercial lines property and casualty insurance providers, offers a variety of insurance services, from reinsurance to workers’ comp third-party administrators across the United States. The insurance segment is W.R. Berkley’s core earnings engine, generating the majority of its premiums and underwriting income.
In 2025, the segment generated $11.18 billion in net premiums written, up from $10.55 billion in 2024. Its 91.7% combined ratio reflected strong underwriting profitability.
The segment continued to perform well in the first half of 2026, with net premiums written rising 3.4% year over year.
W.R. Berkley’s Insurance segment is the company’s primary revenue-generating business, as it provides a broad range of property and casualty insurance products to commercial customers. The segment earns revenues primarily by collecting premiums from policyholders in exchange for providing coverage against various risks.
A key advantage of the Insurance segment is its focus on disciplined underwriting and specialized risk selection, which enables Berkley to pursue premium growth while maintaining underwriting profitability rather than relying solely on higher policy volumes to increase revenues. The Insurance segment supports Berkley through two complementary channels: underwriting earnings from insurance operations and investment income from investing premiums before claims are paid. The combination of underwriting income and investment income supports WRB’s ability to generate attractive returns on equity.
Overall, the Insurance segment aids W.R. Berkley by generating substantial premium revenues, producing underwriting profits through disciplined risk selection and creating investable funds that generate additional investment income. This combination helps WRB achieve profitable growth and strengthens its overall earnings base.
What About Its Peers?
Axis Capital Holdings Limited (AXS - Free Report) , a global specialty underwriter, has a strategic focus on specialty products, including professional liability, cyber insurance, marine and aviation. AXS has been witnessing an increase in its top line over a considerable period of time on the back of higher net premiums. Its well-performing Insurance segment largely contributes to improving premiums. It continues to boost shareholder value through stock buybacks and dividend hikes.
Palomar Holdings, Inc. (PLMR - Free Report) has been displaying a good track record of net written premiums due to increased volume of policies written across the lines of business, driven by new business generated with existing partners, strong premium retention rates for existing business, expansion of its products’ geographic and distribution footprint, and new partnerships. Backed by sustained operational performance, the company has maintained a solid capital position.
WRB’s Price Performance
Shares of WRB have lost 2.5% in the past year against the industry’s growth of 4.3%.
Image Source: Zacks Investment Research
WRB’s Expensive Valuation
The stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 2.63, higher than the industry average of 1.42.
Image Source: Zacks Investment Research
Estimate Movement for WRB
The Zacks Consensus Estimate for WRB’s third-quarter 2026 EPS has moved down 0.9%, while the same for fourth-quarter 2026 EPS has moved up 1.7% in the past 60 days. The same for full-year 2026 EPS has moved up 3.4%, while the same for 2027 EPS has moved down 0.2% in the past 60 days.
The consensus estimate for WRB’s 2026 EPS and revenues indicates a year-over-year increase.
View the Zacks #1 Rank List
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W.R. Berkley's Strong Insurance Operations Boost Earnings
Key Takeaways
W. R. Berkley Corporation (WRB - Free Report) , one of the nation’s largest commercial lines property and casualty insurance providers, offers a variety of insurance services, from reinsurance to workers’ comp third-party administrators across the United States. The insurance segment is W.R. Berkley’s core earnings engine, generating the majority of its premiums and underwriting income.
In 2025, the segment generated $11.18 billion in net premiums written, up from $10.55 billion in 2024. Its 91.7% combined ratio reflected strong underwriting profitability.
The segment continued to perform well in the first half of 2026, with net premiums written rising 3.4% year over year.
W.R. Berkley’s Insurance segment is the company’s primary revenue-generating business, as it provides a broad range of property and casualty insurance products to commercial customers. The segment earns revenues primarily by collecting premiums from policyholders in exchange for providing coverage against various risks.
A key advantage of the Insurance segment is its focus on disciplined underwriting and specialized risk selection, which enables Berkley to pursue premium growth while maintaining underwriting profitability rather than relying solely on higher policy volumes to increase revenues.
The Insurance segment supports Berkley through two complementary channels: underwriting earnings from insurance operations and investment income from investing premiums before claims are paid. The combination of underwriting income and investment income supports WRB’s ability to generate attractive returns on equity.
Overall, the Insurance segment aids W.R. Berkley by generating substantial premium revenues, producing underwriting profits through disciplined risk selection and creating investable funds that generate additional investment income. This combination helps WRB achieve profitable growth and strengthens its overall earnings base.
What About Its Peers?
Axis Capital Holdings Limited (AXS - Free Report) , a global specialty underwriter, has a strategic focus on specialty products, including professional liability, cyber insurance, marine and aviation. AXS has been witnessing an increase in its top line over a considerable period of time on the back of higher net premiums. Its well-performing Insurance segment largely contributes to improving premiums. It continues to boost shareholder value through stock buybacks and dividend hikes.
Palomar Holdings, Inc. (PLMR - Free Report) has been displaying a good track record of net written premiums due to increased volume of policies written across the lines of business, driven by new business generated with existing partners, strong premium retention rates for existing business, expansion of its products’ geographic and distribution footprint, and new partnerships. Backed by sustained operational performance, the company has maintained a solid capital position.
WRB’s Price Performance
Shares of WRB have lost 2.5% in the past year against the industry’s growth of 4.3%.
Image Source: Zacks Investment Research
WRB’s Expensive Valuation
The stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 2.63, higher than the industry average of 1.42.
Image Source: Zacks Investment Research
Estimate Movement for WRB
The Zacks Consensus Estimate for WRB’s third-quarter 2026 EPS has moved down 0.9%, while the same for fourth-quarter 2026 EPS has moved up 1.7% in the past 60 days. The same for full-year 2026 EPS has moved up 3.4%, while the same for 2027 EPS has moved down 0.2% in the past 60 days.
The consensus estimate for WRB’s 2026 EPS and revenues indicates a year-over-year increase.
Image Source: Zacks Investment Research
WRB stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.