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Last $54.48 USD
Change Today -0.24 / -0.44%
Volume 1.4M
WRB On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

wr berkley corp (WRB) Key Developments

W.R. Berkley Corporation Announces Executive Changes

W. R. Berkley Corporation named Steven Zeitman as president of Admiral Insurance, a W. R. Berkley Company, succeeding James Carey. Mr. Zeitman has nearly 45 years of experience in the property casualty insurance industry and most recently served as Admiral Insurance's COO.

W.R. Berkley Corporation Announces Executive Changes

W. R. Berkley Corporation announced that Matthew M. Ricciardi has been named senior vice president and general counsel. The appointment is effective June 3, 2015. He succeeds Ira S. Lederman, who was recently promoted to the office of executive vice president. In this role, he will be responsible for the legal affairs of the Company and report to Mr. Lederman. Mr. Ricciardi has nearly 20 years of legal experience in the insurance industry and most recently served as chief counsel, general corporate for MetLife Inc.

W. R. Berkley Corporation Announces Executive Appointments

W. R. Berkley Corporation announced the appointments of Eugene G. Ballard, Ira S. Lederman and James G. Shiel to the offices of executive vice president. The appointments are effective immediately. Mr. Ballard has been with the company since 1999, serving as senior vice president and chief financial officer. In his new role, he will have oversight responsibility for the finance, accounting and actuarial departments. Mr. Lederman joined the Company in 1983, and has served as senior vice president, general counsel and secretary since 2001. His new responsibilities will include oversight of the company’s legal, compliance, claims and other administrative functions. Mr. Shiel has been with the company since 1987, serving most recently as senior vice president - investments.

W. R. Berkley Corporation Increases Quarterly Dividend, Payable on July 1, 2015

W. R. Berkley Corporation announced that its Board of Directors has voted to increase the cash dividend to an annual rate of 48 cents per share, representing a 9% increase from the present rate. The first quarterly dividend at the new rate of 12 cents per share will be paid on July 1, 2015 to stockholders of record at the close of business on June 15, 2015.

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.

 

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Price/Earnings 12.1x
Price/Sales 1.0x
Price/Book 1.5x
Price/Cash Flow 11.4x
TEV/Sales 0.4x
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