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W.R. Berkley Corp.

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Shares of W.R. Berkley underperformed the Zacks categorized Property and Casualty industry, year-to-date. Also exposures to highly competitive insurance market along with low interest rate scenario and cat losses are dampeners. Nonetheless, the company witnessed better investment results in the third quarter. The company has invested in a number of startups since 2006 which enables it to take advantage of an improved market scenario. Formation of operating units in North and Southeast Asia is in tandem with the strategy. Also, the divestment of wholly owned investment is expected to enhance long term shareholder’s value. Its international business has potential for long-term earnings growth. Reserving discipline and strong capital position are other positives. Although the earnings missed the Zacks Consensus Estimate and deteriorated year over year on higher expenses, we expect the company to deliver growth baking on its strong fundamentals.

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