Insurance holding company W. R. Berkley Corporation has reported a rise in gross written premiums (GWP) for Q1’26 to $3.8 billion, compared with $3.7 billion in Q1’25.
Net written premiums, meanwhile, remained broadly stable year over year, reaching $3.17 billion for Q1’26, compared to $3.13 billion in Q1’25.
For the first quarter of 2026, the insurer reported net income of $515.2 million and a combined ratio of 90.7%, with catastrophe losses contributing 2.4 loss ratio points.
Net income and operating income increased to $515.2 million and a record $514.3 million, respectively, while net investment income grew by 12.2% to a record $404.3 million.
The firm’s management hailed the “outstanding results” for Q1’26, highlighting an annualised 21.2% return on beginning-of-year stockholders’ equity that reflected ongoing growth in underwriting and investment income.
Management continued, “We returned a total capital of $336 million in the quarter through regular dividends and share repurchases.
“Our 88.3% accident year combined ratio excluding catastrophe losses demonstrated the stability of underwriting earnings generated through our diversified operating model.
“We are growing our business where pricing, terms, and conditions support attractive risk-adjusted returns. Our teams continue to execute across a wide range of market conditions, with gross and net premiums written in the insurance segment increasing by 4.5% and 3.2%, respectively.
“Net investment income grew by 12.2%, driven by a higher level of invested assets from continued strong operating cash flow, improved portfolio yields, and strong investment fund income, enhancing overall profitability. The credit quality of the fixed-maturity portfolio remains high with an average rating of AA- and a 3.1-year duration.
“Our balance sheet remains a source of strength, and we prioritised effective capital management in the first quarter by repurchasing nearly 4.5 million shares. Our disciplined focus on long-term risk-adjusted return continues to drive superior performance across market cycles and create long-term value for our shareholders. We remain confident in our ability to exceed our 15% target after‑tax return on equity for the foreseeable future.”
