W.R. Berkley Corp. Reports Strong Fourth-Quarter Earnings, Beats Estimates
GREENWICH, Conn., March 14, 2023 – W.R. Berkley Corp. (WRB) today announced fourth-quarter earnings of $576.1 million, surpassing expectations.
On a per-share basis, the insurer reported net income of $1.44. Excluding investment gains, earnings were $1.13 per share, exceeding the consensus estimate of $0.94 per share provided by Zacks Investment Research analysts.
WRB's revenue for the quarter totaled $3.67 billion, with adjusted revenue reaching $3.51 billion. This also surpassed estimates, as four analysts surveyed by Zacks forecast revenue of $3.37 billion.
For the full year, the company reported a profit of $1.76 billion, or $4.36 per share, on revenue of $13.52 billion.
The positive results drove a 2.92% increase in WRB's share price in pre-market trading on Tuesday.