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Last $49.11 USD
Change Today -0.10 / -0.20%
Volume 454.9K
As of 8:04 PM 05/5/15 All times are local (Market data is delayed by at least 15 minutes).

wr berkley corp (WRB) Key Developments

W. R. Berkley Corporation Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015

W. R. Berkley Corporation reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net premiums written of $1,575,402,000 against $1,525,880,000 a year ago. This is up over 3% compared with the corresponding period last year. This result was, in part, achieved to a strong renewal retention ratio, which was approaching 80%. Premiums earned were $1,472,013,000 against $1,363,612,000 a year ago. Pre-tax income was $168,717,000 against $247,585,000 a year ago. Gross premiums written were $1,851,805,000 against $1,805,267,000 a year ago. Net income to common stockholders was $118,307,000 or $0.89 per diluted share against $169,673,000 or $1.25 per diluted share a year ago. Cash flow from operations was $61,012,000 against $143,164,000 a year ago. Return on equity was 10.3% against 15.7% a year ago. Operating income was $105,928,000 or $0.80 per diluted share against $135,383,000 or $1.00 per diluted share a year ago. Book value per share was $36.65. Tangible book value per share was $35.13. Total revenues $1,744,679,000 against $1,706,906,000 a year ago. Income before income taxes was $168,717,000 against $247,585,000 a year ago. The decline in earnings was due to lower income from investment funds and from realized investment gains, partially offset by modest improvement in the underwriting results.

W. R. Berkley Corporation Combines its U.S. Broker Market Reinsurance Units; Announces Executive Appointments

W.R. Berkley Corporation announced the combination of its U.S. broker market reinsurance units, Berkley Re America and Facultative ReSources, into a single operating unit that will trade under the Berkley Re America (BRAM) name. Facultative ReSources is a casualty, professional liability and property facultative underwriter. The newly constituted BRAM will provide a single market for reinsurance brokers to address the diverse needs of their clients. The company also announced that Jonathan A. Schriber has been named chief underwriting officer of the Reinsurance" Global segment. In this role, he will be responsible for the coordination of reinsurance underwriting activities across the group and the build-out of additional products with global scope, and will support the geographic expansion of the reinsurance operations. Mr. Schriber most recently served as president of Berkley Re America has been named chairman. Joseph L. Sullivan has been named president of BRAM. Mr. Sullivan has over 20 years of experience in casualty insurance and reinsurance, with a particular emphasis on the casualty market. He joined Facultative ReSources in 2010 as executive vice president and chief operating officer, and was named president in 2012.

W.R. Berkley Corporation to Report Q1, 2015 Results on Apr 27, 2015

W.R. Berkley Corporation announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Apr 27, 2015

W.R. Berkley Corporation, Q1 2015 Earnings Call, Apr 27, 2015

W.R. Berkley Corporation, Q1 2015 Earnings Call, Apr 27, 2015

W. R. Berkley Corporation Appoints Dana R. Frantz Vice President – Corporate Actuary

W. R. Berkley Corporation announced the appointment of Dana R. Frantz as vice president - corporate actuary. The appointment is effective immediately. Ms. Frantz, who joined W. R. Berkley Corporation in 2010 as assistant vice president - corporate actuary, has over 15 years of actuarial experience.

 

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Price/Book 1.4x
Price/Cash Flow 10.3x
TEV/Sales 0.4x
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