BERKLEY W R CORP

WRB 10-Q · Q2 2025

WRB Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 3,670,808 3,314,032 +10.8%
Show Business Segments breakouts
Insurance · Non Us 361 368 -1.9%
Insurance · Operating Segments 3,038,414 2,797,721 +8.6%
Reinsurance and Monoline Excess Segment · Non Us 116 117 -0.9%
Reinsurance and Monoline Excess Segment · Operating Segments 450,259 420,318 +7.1%
Show Consolidation Items breakouts
Corporate Reconciling Items And Eliminations 151,162 154,505 -2.2%
Income Before Taxes 521,863 487,673 +7.0%
Show Business Segments breakouts
Insurance · Operating Segments 512,672 490,053 +4.6%
Reinsurance and Monoline Excess Segment · Operating Segments 127,299 124,449 +2.3%
Show Equity Components breakouts
Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income 27,528 52,371 -47.4%
Show Consolidation Items breakouts
Corporate Non Segment 30,973 -58,512 +152.9%
Corporate Reconciling Items And Eliminations -149,081 -68,317 -118.2%
Income Tax Expense (Benefit) -121,155 -115,788 -4.6%
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -5,781 -10,998 +47.4%
Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income -5,781 -10,998 +47.4%
Net Income 400,708 371,885 +7.8%
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income 21,747 41,373 -47.4%
Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income 21,747 41,373 -47.4%
Noncontrolling Interest -580 -24 -2316.7%
Retained Earnings 401,288 371,909 +7.9%
Comprehensive Income 590,971 361,797 +63.3%
EPS (Basic) 1.01 0.93 +8.6%
EPS (Diluted) 1 0.92 +8.7%
Wtd Avg Shares (Basic) 397,016 400,273 -0.8%
Wtd Avg Shares (Diluted) 400,368 403,737 -0.8%
Premiums Earned Net 3,098,185 2,846,415 +8.8%
Show Product Lines breakouts
Auto · Insurance 405,632 361,580 +12.2%
Casualty · Reinsurance and Monoline Excess Segment 184,903 199,080 -7.1%
Monoline excess · Reinsurance and Monoline Excess Segment 71,362 65,511 +8.9%
Other liability · Insurance 1,104,332 1,001,987 +10.2%
Professional liability · Insurance 279,951 271,641 +3.1%
Property · Reinsurance and Monoline Excess Segment 113,136 97,255 +16.3%
Short-tail lines · Insurance 619,988 538,797 +15.1%
Workers' compensation · Insurance 318,881 310,564 +2.7%
Show Business Segments breakouts
Insurance · Operating Segments 2,728,784 2,484,569 +9.8%
Reinsurance and Monoline Excess Segment · Operating Segments 369,401 361,846 +2.1%
Policyholder Benefits And Claims Incurred Net 1,955,424 1,780,596 +9.8%
Show Business Segments breakouts
Insurance · Operating Segments 1,742,235 1,589,569 +9.6%
Reinsurance and Monoline Excess Segment · Operating Segments 213,189 191,027 +11.6%
Gain Loss On Investments 30,973 -58,512 +152.9%
Show Consolidation Items breakouts
Corporate Non Segment 30,973
Interest Expense 31,777 31,708 +0.2%
Revenue From Contract With Customer Including Assessed Tax 135,919 123,647 +9.9%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 1,984,529 1,580,270 +25.6%
Non-Current Assets
Property, Plant & Equipment 490,121 477,034 +2.7%
Goodwill 184,332 184,089 +0.1%
Total Assets 42,658,057 38,909,919 +9.6%
Show Business Segments breakouts
Insurance · Operating Segments 34,532,276 31,264,338 +10.5%
Reinsurance and Monoline Excess Segment · Operating Segments 5,799,205 5,557,232 +4.4%
Show Consolidation Items breakouts
Corporate Reconciling Items And Eliminations 2,326,576 2,088,349 +11.4%
Operating Lease Right-of-Use Assets 210,884 190,207 +10.9%
Other Assets
Equity Method Investments 1,492,258 1,589,119 -6.1%
Show Investment Type breakouts
Energy 42,193 131,719 -68.0%
Infrastructure 161,019 140,699 +14.4%
Other funds 396,115 376,048 +5.3%
Real Estate 276,904 306,485 -9.7%
Real Estate Funds 181,509 198,111 -8.4%
Transportation 434,518 436,057 -0.4%
Real Estate Investments 1,294,505 1,279,306 +1.2%
Equity Securities Fv Ni 1,262,192 1,078,092 +17.1%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Common Stock 716,561 693,294 +3.4%
Fair Value Inputs Level1 · Fair Value Measurements Recurring 716,561 693,294 +3.4%
Fair Value Inputs Level2 · Common Stock 858 1,116 -23.1%
Fair Value Inputs Level2 · Fair Value Measurements Recurring 534,806 379,017 +41.1%
Fair Value Inputs Level2 · Preferred Stock 533,948 377,901 +41.3%
Fair Value Inputs Level3 · Common Stock 2,151 2,145 +0.3%
Fair Value Inputs Level3 · Fair Value Measurements Recurring 10,825 5,781 +87.3%
Fair Value Inputs Level3 · Preferred Stock 8,674 3,636 +138.6%
Show Financial Instrument breakouts
Common Stock · Carrying Reported Amount Fair Value Disclosure 719,570 696,555 +3.3%
Common Stock · Estimate Of Fair Value Fair Value Disclosure 719,570 696,555 +3.3%
Preferred Stock · Carrying Reported Amount Fair Value Disclosure 542,622 381,537 +42.2%
Preferred Stock · Estimate Of Fair Value Fair Value Disclosure 542,622 381,537 +42.2%
Show Fair Value By Asset Class breakouts
Common Stock · Fair Value Measurements Recurring 719,570 696,555 +3.3%
Preferred Stock · Fair Value Measurements Recurring 542,622 381,537 +42.2%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 1,262,192 1,078,092 +17.1%
Estimate Of Fair Value Fair Value Disclosure 1,262,192 1,078,092 +17.1%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 1,262,192 1,078,092 +17.1%
Other Investments 1,034,557 1,221,861 -15.3%
Investments 29,501,033 26,600,379 +10.9%
Premiums And Other Receivables Net 3,647,860 3,430,991 +6.3%
Reinsurance Recoverables On Paid And Unpaid Losses 3,601,233 3,501,892 +2.8%
Deferred Policy Acquisition Costs 1,017,073 939,453 +8.3%
Prepaid Reinsurance Premiums 872,539 814,858 +7.1%
Receivables From Brokers Dealers And Clearing Organizations 138,891 40,705 +241.2%
Accrued Investment Income Receivable 259,308 225,214 +15.1%
Income Taxes Net Current And Deferred 36,255 220,080 -83.5%
Other Assets 924,883 894,954 +3.3%
Non-Current Liabilities
Total Liabilities 33,353,249 31,122,868 +7.2%
Other Liabilities
Debt Securities Available For Sale And Held To Maturity 24,093,156 21,082,676 +14.3%
Liability For Claims And Claims Adjustment Expense 21,496,123 19,567,190 +9.9%
Unearned Premiums 6,818,407 6,332,699 +7.7%
Reinsurance Payable 644,608 730,407 -11.7%
Trading Liabilities 30,909 81,273 -62.0%
Junior Subordinated Notes 1,521,396 1,009,449 +50.7%
Other Liabilities 1,010,168 1,573,428 -35.8%
Senior Notes And Other Debt 1,831,638 1,828,422 +0.2%
Stockholders' Equity
Common Stock 158,705 158,705 0.0%
Additional Paid In Capital Common Stock 1,005,428 986,892 +1.9%
Retained Earnings 12,829,755 11,669,567 +9.9%
Accumulated Other Comprehensive Income -572,384 -1,033,640 +44.6%
Treasury Stock Value -4,126,967 -4,007,742 -3.0%
Total Stockholders' Equity 9,294,537 7,773,782 +19.6%
Minority Interest 10,271 13,269 -22.6%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 9,304,808
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss -248,633 -669,813 +62.9%
Accumulated Other Comprehensive Income -572,384 -1,033,640 +44.6%
Accumulated Translation Adjustment -323,751 -363,827 +11.0%
Additional Paid In Capital 1,005,428 986,892 +1.9%
Noncontrolling Interest 10,271 13,269 -22.6%
Retained Earnings 12,829,755 11,669,567 +9.9%
Treasury Stock Common -4,126,967 -4,007,742 -3.0%
Total Liabilities & Equity 42,658,057 38,909,919 +9.6%
Mortgage Loans On Real Estate Commercial And Consumer Net 324,365
Show Financing Receivable Portfolio breakouts
Commercial Portfolio Segment 4,056
Commercial Real Estate Portfolio Segment 320,309

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Net Income 818,860 814,380 +0.6%
Show Business Segments breakouts
Insurance · Operating Segments 786,572 739,337 +6.4%
Reinsurance and Monoline Excess Segment · Operating Segments 195,883 199,764 -1.9%
Show Consolidation Items breakouts
Corporate Reconciling Items And Eliminations -200,710 -97,757 -105.3%
Realized Investment Gains Losses -47,328 32,733 -244.6%
Depreciation Amortization And Accretion Net -23,755 -145,062 +83.6%
Net Income Loss Attributable To Noncontrolling Interest -802 -460 -74.3%
Income Loss From Equity Method Investments Net Of Dividends Or Distributions -54,291 3,873 -1501.8%
Stock-Based Compensation 27,487 26,856 +2.3%
Increase Decrease In Trading Securities -32,970 51,013 -164.6%
Increase Decrease In Premiums Receivable -362,327 -332,640 -8.9%
Increase Decrease In Reinsurance Recoverable -133,771 81,755 -263.6%
Increase Decrease In Deferred Policy Acquisition Costs -65,570 -77,772 +15.7%
Increase Decrease In Deferred Income Taxes 28,500 27,699 +2.9%
Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve 1,067,618 852,523 +25.2%
Increase Decrease In Unearned Premiums 422,524 422,409 0.0%
Increase Decrease In Other Operating Liabilities -196,551 -129,742 -51.5%
Net Cash from Operations 1,447,624 1,627,565 -11.1%
Investing Activities
Proceeds From Sale Of Available For Sale Securities Debt 529,223 1,089,183 -51.4%
Proceeds From Sale Of Equity Securities Available For Sale 142,927 253,498 -43.6%
Proceeds From Payments To Equity Method Investments 39,421 21,011 +87.6%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 2,477,846 2,133,775 +16.1%
Purchases of Investments -4,228,781 -4,203,540 -0.6%
Payments To Acquire Equity Securities Available For Sale -121,451 -180,350 +32.7%
Payments For Proceeds From Real Estate -15,950 -44,603 +64.2%
Payments For Proceeds From Loans Receivable 109,279 -148,241 +173.7%
Paymentsto Acquire Property Plantand Equipment Net -36,794 -78,468 +53.1%
Increase Decrease In Broker Dealer Related Receivables Payables Net Investing Activities -54,351 165,430 -132.9%
Net Cash from Investing -1,158,631 -992,305 -16.8%
Financing Activities
Proceeds From Payments For Issuance Of Debt 429 420 +2.1%
Payments Of Dividends Common Stock -254,175 -185,721 -36.9%
Share Repurchases -49,202 -223,763 +78.0%
Proceeds From Payments For Other Financing Activities -10,176 943 -1179.1%
Net Cash from Financing -313,124 -408,121 +23.3%
Supplemental
Interest Paid 63,228,000 63,051,000 +0.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 33,913 -10,064 +437.0%
Net Change in Cash 9,782 217,075 -95.5%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,984,529 1,580,270 +25.6%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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