Insurance holding company W. R. Berkley Corporation reported gross written premiums (GWP) of $3.95 billion for the third quarter of 2026, up from $3.83 billion in Q3’25. For the first nine months of 2026, GWP were reported at $11.9 billion, compared to $11.5 billion in 9M’25.
The firm’s insurance segment was the largest contributor to GWP, generating $3.6 billion in Q3’26, a growth of 4.9% and $10.7 billion in 9M’26, a 3.2% rise.
Meanwhile, the reinsurance segment generated Q3’26 GWP of $391 million and $443 million for 9M’26.
Additionally, the insurer confirmed that for the quarter, its insurance segment’s pre-tax underwriting income rose by 10.6% to $237.7 million.
Overall, net written premiums (NWP) remained broadly increased year over year, reaching $3.3 billion for Q3’26, compared to $3.2 billion in Q3’25. For 9M’26, NWP were $9.9 billion, compared to $9.7 billion in 9M’25.
The insurer reported net premiums earned (NPE) of $3.21 billion for Q3’26, compared to $3.15 billion in the comparative quarter; for 9M1’26, NPE was $9.5 billion, compared to $9.3 billion in 9M’25.
Meanwhile, the quarter’s current accident year combined ratio before catastrophe losses of 2.7 loss ratio points was 88.1%, while the reported combined ratio was 90.8%.
Across all lines of business, catastrophe losses rose slightly to $85.9 million for Q3’26, compared to $78.5 million in Q3’25. At the same time, catastrophe losses for 9M’26 were down to $223 million, compared to $288 million in 9M’25.
For Q3’26, net income dropped to $446 million compared to $511 million in Q3’25; for 9M’26, it rose to $1.4 billion compared to $1.3 billion for 9M’25.
The operating income for this quarter rose by 6.4% to $456 million compared to $440 million in Q3’25. For 9M’26, it was $1.5 billion, compared to $1.3 billion at 9M’25.
Meanwhile, Q2’26 net investment income grew to $383.5 million for the quarter, driven by an increase in the core portfolio of 12%, compared to $351 million in Q3’25. For 9M’26, it was $1.2 billion, compared to $1 billion for 9M’25.
W. Robert Berkley, Jr., Chairman, Chief Executive Officer, and President, W. R. Berkley Corporation, commented, “The Company delivered another excellent quarter, generating an annualized 18.8% operating return on beginning-of-year stockholders’ equity. These results demonstrate the continuing strength in how we manage our specialty insurance underwriting, as well as our investment portfolio.
“Our underwriting results have consistently been outstanding due to our unwavering commitment to rate adequacy and attention to terms and conditions. As the cycles for various product lines have decoupled, the breadth of our offering through our 60 specialty businesses allows for greater stability. Our long-term view and disciplined approach produced a strong 88.1% accident year combined ratio, excluding catastrophe losses.”
He continued, “Our investment portfolio continues to be a great contributor to our economic model, with the domestic fixed-maturity portfolio serving as the primary driver. Income from fixed-maturity securities increased 10.3% over the corresponding period a year ago. The credit quality of our portfolio remains excellent, with an average strong AA- rating, and reinvestment yields continue to meaningfully exceed our portfolio’s book yield.
“Our disciplined approach to capital management remains unchanged. We returned a total of $728.6 million to shareholders year-to-date, which includes $435.1 million of share repurchases, while preserving substantial flexibility to support future opportunities.
“The strong prevailing interest rate tailwind has set investment income on a path to greater earnings contributions, and greater utilization of technology is enabling us to further leverage our underwriting and claims expertise. We believe we remain well-positioned to continue delivering attractive long-term risk-adjusted returns and creating long-term value for our shareholders.”
