W. R. Berkley (WRB)
Underwrites specialty commercial insurance, reinsurance, and excess-only risk through decentralized businesses.
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Underwrites commercial property-and-casualty insurance across specialty, excess and surplus, admitted, and selected personal lines, while a smaller segment writes reinsurance and monoline excess. Specialized operating businesses make underwriting decisions near their markets, backed by centralized capital, investment, reinsurance, actuarial, risk, and compliance functions.
Underwrites predominantly commercial property-and-casualty insurance through the Insurance segment, spanning excess and surplus, admitted, industry-specialty, workers' compensation, commercial auto, professional liability, property, surety, and specialty personal lines. Reinsurance & Monoline Excess adds facultative and treaty reinsurance, excess-only risk retention, and program management. Most premiums come from Insurance and U.S. business, supplemented by operations across Europe, Asia-Pacific, Canada, Latin America, and other international markets.
Organizes underwriting in specialized businesses close to customers, letting local teams price niche risks while centralizing capital, investments, reinsurance, actuarial support, finance, enterprise risk, and compliance. Earnings depend on pricing coverage before claims emerge and estimating reserves before ultimate losses are known; regulated insurance subsidiaries also face solvency rules and limits on dividends to the holding company.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 27, 2026 | UBS | Reiterate | Rating: —Target: $68 | Target: $77 |
| Jul 21, 2026 | Mizuho Securities | Target | Target: $72 | Target: $74 |
| Jul 21, 2026 | Oppenheimer | Target | Target: — | Target: $70 |
| Jul 16, 2026 | B of A Securities | Downgrade | ||
| Jul 15, 2026 | Atlantic Equities | Target | Target: — | Target: $74 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $29.78B · Total debt $2.84B · Total assets $45.68B · Shareholders' equity $10.20B
- Revenue
- $6.83B
- Operating income
- $575.2M
- Net income
- $452.3M
HistoryDividendAnnual yield
| Institutions | 75.64% | 280.81M shares | |
|---|---|---|---|
| 961 holders · as of Jun 30, 2026 | |||
| Insiders | 6.43% | 23.88M shares | |
| 14 holders · as of Aug 5, 2026 | |||
| Other | 17.93% | 66.53M shares | |
| remainder | |||
371.23M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Mitsui Sumitomo Insurance Co LtdInstitution | 15.83% | 58.78M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.91% | 21.93M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 5.03% | 18.69M | as of Jun 30, 2026 |
William R. BerkleyInsiderdirector, 10 percent owner, officer: Executive Chairman | 4.68% | 17.37M | filed Jun 4, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.92% | 14.55M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 2, 2026 | Mitsui Sumitomo Insurance Co Ltd | 10 percent owner | +146,000 | $72.92 |
| Mar 3, 2026 | Mitsui Sumitomo Insurance Co Ltd | 10 percent owner | +112,176 | $72.20 |
| Feb 26, 2026 | Mitsui Sumitomo Insurance Co Ltd | 10 percent owner | +153,000 | $71.67 |
| Feb 27, 2026 | Mitsui Sumitomo Insurance Co Ltd | 10 percent owner | +147,000 | $71.63 |
| Feb 23, 2026 | Mitsui Sumitomo Insurance Co Ltd | 10 percent owner | +220,000 | $71.15 |
- Chubb
Broad P&C, E&S, HNW personal, and reinsurance overlap
- Travelers
Large agency-channel commercial and specialty P&C peer
- Arch Capital Group
Specialty insurance and treaty/facultative reinsurance peer
- Markel Group
Specialty/E&S peer with programs and hard-to-place risks
- The Hartford
Commercial, small-business, E&S, and specialty-lines overlap
- Everest Group
Global specialty insurance and reinsurance overlap
- C.N.A. Financial
Commercial P&C and specialty professional-liability peer
- American International Group
Global commercial insurer with specialty and E&S overlap
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| W. R. Berkley | $68.22 | +0.01% | $25.61B | 14.1 | 14.4 | 1.4 | +1.2% |
| Chubb | $335.43 | −0.11% | $130.11B | 11.9 | 12.0 | 2.1 | −1.3% |
| Travelers | $362.01 | −0.05% | $77.41B | 9.9 | 12.1 | 1.6 | −4.8% |
| Arch Capital Group | $94.95 | +0.03% | $33.46B | 7.5 | 10.0 | 1.7 | −22.3% |
| Markel Group | $1,763.42 | +0.06% | $21.99B | 9.8 | 15.3 | 1.3 | +17.6% |
| The Hartford | $128.73 | −0.09% | $35.84B | 8.5 | 9.8 | 1.2 | +4.0% |
| Everest Group | $370.87 | −0.01% | $14.62B | 7.9 | 6.8 | 0.9 | −10.1% |
| C.N.A. Financial | $47.47 | −0.04% | $12.93B | 10.5 | 10.2 | 0.9 | +3.0% |
| American International Group | $75.18 | −0.03% | $39.52B | 13.6 | 9.0 | 1.5 | +0.8% |
| Median | 9.8 | 10.1 | 1.4 | −0.3% |