Insurance holding company W. R. Berkley Corporation has reported a new record for gross written premiums (GWP) of $4.1 billion for the second quarter of 2026, compared to $3.97 billion in Q2’25. For the first six months of 2026, GWP were reported at $7.9 billion, compared to $7.6 billion in H1’25.
The firm’s insurance segment was the largest contributor to GWP, generating $3.8 billion in Q2’26 and $7.1 billion in H1’26. Meanwhile, the reinsurance segment generated Q2’26 GWP of $341 million and $838 million for H1’26.
Net written premiums (NWP) remained broadly stable year over year, reaching $3.43 billion for Q2’26, compared to $3.4 billion in Q2’25. For H1’26, NWP were $6.6 billion, compared to $6.5 billion in H1’25.
The insurer reported net premiums earned (NPE) of $3.2 billion for Q2’26, compared to $3.1 billion in the comparative quarter; for H1’26, NPE was $6.3 billion, compared to $6.1 billion in H1’25.
For Q2’26, W. R. Berkley reported a 21.8% growth in pre-tax underwriting income to $317.5 million. Meanwhile, the quarter’s current accident year combined ratio before catastrophe losses of 2 loss ratio points was 88.1%, and the reported combined ratio was 90%.
Across all lines of business, catastrophe losses, which were considerably down given the benign year we’re having so far, were reported at $62 million for Q2’26, compared to $99.2 million in Q2’25. At the same time, catastrophe losses for H1’26 were $138 million, compared to $210 million in H1’25.
For Q2’26, net income and operating income rose by 12.7% and 18.2% to $452.3 million and $497.1 million, respectively. For H1’26, net income rose to $967 million, compared to $818 million in H1’25.
Meanwhile, Q2’26 net investment income grew by 10.4% to a record $418.7 million, compared to $379 million. For H1’26, net investment income was reported at $823 million, compared to $739 million in H1’25.
W. Robert Berkley, Jr., Chairman, Chief Executive Officer, and President, commented, “The Company delivered an excellent second quarter in 2026, generating an annualised 20.5% operating return on beginning-of-year stockholders’ equity, driven by outstanding underwriting performance and record net investment income. Disciplined cycle management has long been and remains a hallmark of the Company’s success.
“We continue to see attractive opportunities across select liability lines. By focusing on business that offers appropriate risk-adjusted returns and favourable pricing, our Insurance segment grew gross and net premiums written by 5.4% and 3.7%, respectively, to record levels. This disciplined approach resulted in a strong overall 88.1% accident year combined ratio, excluding catastrophe losses.”
He continued, “Net investment income from fixed-maturity securities increased 11.9%, reflecting growth in invested assets and a higher portfolio yield. Credit quality remained excellent, with an average rating of AA-. In addition, current reinvestment rates continue to exceed our annual book yield, which, combined with the 3.2-year duration of our fixed-maturity portfolio, provides both opportunity and flexibility. We returned significant capital to shareholders through $223 million of regular and special dividends and $112 million of share repurchases.
“Supported by a strong balance sheet and disciplined capital management, we remain well positioned to create long-term shareholder value. Our unwavering focus on risk-adjusted returns across both underwriting and investing has enabled us to deliver strong performance. We remain confident in our ability to generate excellent returns for shareholders.”
