W.R. Berkley Corp.
WRB
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+ FollowMarket Cap$26.66B
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Earnings Call Q2 2026
July 20, 2026 - AI Summary
Strong profitability + cash generation (good): 2Q26 operating EPS (diluted) +21% to $1.27; $497m operating earnings; annualized ROE 20.5%. Pretax underwriting income $318m (2nd best quarter) and record pretax net investment income $419m. Operating cash flow $800m (up from $700m in prior-year quarter), supporting continued investment asset growth despite large capital returns.
Underwriting discipline holding up; catastrophe benefit but core loss ratio strong (good/surprising): Current accident-year combined ratio excluding cat losses 88.1%; calendar-year combined 90%. Current accident-year cat losses $62m, down vs prior year (cat loss ratio 2.0 pts vs 3.2 pts). Current accident-year loss ratio ex-cats 59.6% vs 59.9%. Expense ratio flat ~28.5% and still below prior expectation—management reaffirmed intent to keep it ≤ ~30% (with modest increase over 2025 absent major market changes).
Capital return remains significant (good): Total capital returned $334m via regular + special dividends ($223m) and share repurchases (~$111m). Management emphasized there is no fixed quarterly return formula, but the level is consistent with Q1.
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$178.88
153.8% upside
Current Fair Value
153.8% upsideUndervalued by 153.8% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $26.66 Billion |
|---|---|
| Enterprise Value | $33.99 Billion |
| Dividend Yield | $1.87 (2.61%) |
| Earnings per Share | $4.48 |
| Beta | 0.29 |
| Outstanding Shares | 389,156,000 |
Return
| Return on Equity | 18.89% |
|---|---|
| Return on Assets | 4.22% |
| Return on Invested Capital | 14.13% |
Valuation & Multiples
| P/E Ratio | 14.64 |
|---|---|
| PEG | 115.27 |
| Price to Sales | 1.53 |
| Price to Book Ratio | 2.71 |
| Enterprise Value to Revenue | 1.89 |
| Enterprise Value to EBIT | 13.4 |
| Enterprise Value to Net Income | 17 |
| Total Debt to Enterprise | 0.28 |
| Debt to Equity | 0.94 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
July 20, 2026
EPS Estimate
$1.08
Average shareholder expectationRevenue Estimate
$3.28 B
Average shareholder expectationNext Earnings Call
Expected Date
October 19, 2026
EPS Estimate
$1.10
Average shareholder expectationRevenue Estimate
$3.70 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0000▼ 45.68% |
|---|---|
| Total Calls | 2,400▼ 98.48% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 15.86%▼ 55.24% |
|---|---|
| Total Invested | $4.40B▼ 76.21% |
| Investors Holding | 512▼ 419.00% |
ESG Score
No data
About W.R. Berkley Corp.
7,448 employees
CEO: William Robert Berkley W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the Insurance and Reinsurance & Monoline Excess segments. The Insurance segment includes excess and surplu...