W. R. Berkley Corporation reported its financial results for the third quarter of 2026 on October 19, 2026. The company reported a return on equity of 18.4% and an operating return on equity of 18.8% for the quarter. Net income attributable to common stockholders was $446.0 million, or $1.14 per diluted share, compared to $511.0 million, or $1.28 per diluted share, in the same period of the prior year.
Operating income for the quarter was $456.5 million, representing a per-share increase of 6.4% to $1.17. This metric excludes after-tax net investment gains (losses) and related expenses, as well as after-tax net foreign currency gains (losses). The company’s insurance segment generated pre-tax underwriting income of $237.7 million, a 10.6% increase from the prior year.
Net premiums written for the insurance segment grew 4.9% to $3.56 billion, while net premiums written for the entire company increased 3.2% to $3.27 billion. The company’s net investment income rose to $383.5 million, driven by a 12.0% increase in its core portfolio. Income from fixed-maturity securities increased 10.3% compared to the same period in 2025.
In terms of underwriting performance, the current accident year combined ratio before catastrophe losses was 88.1%, and the reported combined ratio was 90.8%. The loss ratio was 62.2% and the expense ratio was 28.6%. The company noted that average rate increases excluding workers' compensation were approximately 4.0%. W. R. Berkley returned a total of $728.6 million to shareholders year-to-date, which includes $435.1 million in share repurchases.
