Berkley W R posted strong second-quarter 2026 results, with record gross premiums written of $4.144 billion and record quarterly net investment income of $418.7 million. The company reported net income to common stockholders of $452.3 million (diluted EPS $1.15) and operating income of $497.1 million (operating income per diluted share $1.27). Return on equity was 18.6% and operating return on equity was 20.5% for the quarter.

Financial Highlights

  • Gross premiums written: $4,144,000 (Q2 2026), up from $3,977,769 in Q2 2025.
  • Net investment income: $418,714 for the quarter (record quarterly level).
  • Operating income: $497,145 for the quarter; operating income per diluted share $1.27.
  • Net income to common stockholders: $452,261 for the quarter; diluted EPS $1.15.
  • Return metrics: Return on equity 18.6%; Operating return on equity 20.5% (annualized on beginning-of-year equity).

Business Highlights

  • Insurance segment grew gross and net premiums written to record levels—Insurance gross premiums written $3.803 billion and net premiums written $3.124 billion for Q2 2026.
  • Pre-tax underwriting income increased 21.8% to $317.5 million (consolidated pre-tax income $575.2 million).
  • Strong underwriting performance: consolidated accident year combined ratio before catastrophe losses was 88.1%; reported GAAP combined ratio 90.0% for the quarter.
  • Reinsurance & Monoline Excess segment delivered improved profitability with a GAAP combined ratio of 79.3% and pre-tax income of $145.5 million in Q2 2026.
  • Capital deployment: total capital returned to shareholders of $334.1 million in the quarter, including special dividends and share repurchases; ongoing disciplined cycle and capital management emphasized by management commentary.

Original SEC Filing:

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