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WR Berkley Corp WRB

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Morningstar’s Analysis

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Better Pricing Leads to Strong First Quarter for W.R. Berkley

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

W.R. Berkley started the year on a strong note, with better industry pricing leading to strong growth and better underwriting profitability. Annualized return on equity for the quarter was 14.5%, a level that we think demonstrates the narrow-moat company’s potential leverage to a harder market. We will maintain our $65 fair value estimate.

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Company Profile

Business Description

W.R. Berkley is an insurance holding company with a host of subsidiaries that primarily write commercial casualty insurance. The firm specializes in niche products that include various excess and surplus lines, workers' compensation insurance, self-insurance consulting, reinsurance, and regional commercial lines for small and midsize businesses.

475 Steamboat Road
Greenwich, CT, 06830
T +1 203 629-3000
Sector Financial Services
Industry Insurance - Property & Casualty
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2020
Stock Type Slow Growth
Employees 7,495