W.R. Berkley Profit Jumps Despite Rising Catastrophe Losses

Dow Jones

Jan 28, 2025

By Katherine Hamilton

W.R. Berkley said fourth-quarter profit rose 45% and that its risk strategy is helping it improve and offset rising catastrophe losses.

The Greenwich, Conn.-based insurance company posted a profit of $576.1 million, or $1.44 a share, in its fourth quarter, compared with $397.3 million, or 98 cents a share, a year earlier.

The profit beat FactSet analysts' expectations of $392 million, or 98 cents a share.

Revenue rose 14% to $3.67 billion. Analysts surveyed by FactSet forecast revenue of $3.5 billion.

Operating income and return on equity improved over the year, the company said. Net investment gains increased to $158.5 million, up from $7.8 million.

W.R. Berkley said its decentralized structure is helping it manage risks. The combined ratio remained around 90% over the year despite growing expenses from catastrophe. Catastrophe losses were up to $79.6 million from $32 million the previous year.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 27, 2025 16:53 ET (21:53 GMT)

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Berkley Profit Jumps Despite Rising Catastrophe Losses\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-28 05:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Katherine Hamilton \n</p>\n<pre>\n \n</pre>\n<p>\n  W.R. 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