EarningsQ2 2026 Earnings Report
MX:WRB Q2 2026 EPS Results
Actual EPS$23.06
Consensus EPS$19.69
Beat/MissBeat by +$3.38
One Year Ago EPS$19.07
MX:WRB Q2 2026 Revenue Results
Actual Revenue$67.49B
Expected Revenue$59.62B
Beat/MissBeat by +$7.87B
YoY Revenue Growth+1.23%
Earnings Announcement Details
QuarterQ2 2026
Date07/20/2026
TimeAfter Close
Conference CallMonday, July 20, 2026
MX:WRB Upcoming Earnings
W. R. Berkley Corporation's next earnings date is estimated for October 19, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WRB Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong financial performance: double-digit operating EPS growth, record investment income, robust cash flow, record gross and net premiums written, and substantial capital returns and balance sheet strength. These positives coexist with notable market headwinds — heightened competition in reinsurance and monoline excess, concerns about MGUs and delegated authority, aggressive rate cuts in certain casualty niches (20%–30% cited), and potential modest expense increases tied to strategic investments. Management struck a constructive tone, highlighting disciplined underwriting, targeted growth where margins are attractive, and continued investment in productivity (AI/automation). On balance, the favorable operating and investment results and capital returns outweigh the market-structure and competitive challenges discussed.Company Guidance
Operating Earnings Growth
Operating earnings per diluted share grew 21% year-over-year to $1.27 (or $497 million), producing an annualized return on beginning-of-year equity of 20.5%.
Record Investment Income and Strong Investment Position
Record quarterly pretax net investment income of $419 million; income from the core portfolio grew 13% to $371 million and investment funds rose 5.6% to $28.8 million. Net invested assets increased to $34.2 billion and portfolio credit quality remains strong at AA-.
Top-Line Growth and Record Premiums
Insurance gross premiums written rose 5.4% to a record $3.8 billion and net premiums written increased 3.7% to a record $3.1 billion.
Underwriting Performance
Current accident year combined ratio excluding catastrophe losses was 88.1%; calendar year combined ratio was 90.0%. The company's current accident year loss ratio excluding catastrophes was 59.6% (vs. 59.9% prior year).
Expense Discipline
Overall expense ratio was flat quarter-over-quarter at 28.5%, remaining below the company target of 30% despite modest investments in technology and AI initiatives.
Capital Returns and Balance Sheet Strength
Total capital returned to shareholders in the quarter was $334 million (regular and special dividends plus repurchases). Over the prior 12 months the company returned more than $1.3 billion (approximately 14% of stockholders' equity). Stockholders' equity reached a record above $9.8 billion; regular and special dividends were $223 million and share repurchases about $111 million in the quarter.
Operating Cash Flow Improvement
Strong operating cash flow of $800 million in the quarter, up from $700 million in the comparable prior period (~+14.3%), contributing to investment asset growth.
Liability Duration and Reserve Position
Duration of fixed maturity portfolio (including cash) increased to 3.2 years while average life of insurance reserves is about 3.9 years, leaving room to extend duration if desired.
MX:WRB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed