W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines. This segment also provides accident and health insurance and reinsurance products; insurance for commercial risks; casualty and specialty environmental products; specialized insurance coverages for fine arts and jewelry exposures; excess liability and inland marine coverage for small to medium-sized insureds; and commercial general liability, umbrella, professional liability, directors and officers, commercial property, and surety products, as well as products for technology, and life sciences and travel industries. In addition, this segment offers cyber risk solutions; crime and fidelity insurance products; medical professional coverages; workers' compensation insurance products; general insurance; personal lines insurance solutions, including home, condo/co-op, auto, and collectibles; automobile, law enforcement, public officials and educator's legal, and employment practices liability, as well as incidental medical and property and crime insurance products; at-risk and alternative risk insurance program management services; professional liability; energy and marine risks; and provides insurance products to the Lloyd's marketplace. The Reinsurance & Monoline Excess segment provides treaty and facultative reinsurance solutions; property and casualty reinsurance; facultative reinsurance products include automatic, semi-automatic and individual risk assumed reinsurance; and turnkey products such as cyber, employment practices liability insurance, liquor liability insurance and violent events. The company was founded in 1967 and is headquartered in Greenwich, Connecticut.

W.R. Berkley Corporation демонстрирует сильные финансовые показатели, такие как высокий уровень ROE (20.92) и ROA (4.53), что значительно превышает медиану отрасли, указывая на высокую эффективность использования капитала. Однако, несмотря на положительные аспекты, компания сталкивается с проблемами в некоторых мультипликаторах, таких как цена к продажам (TTM 1.84), что на 12% ниже медианы, и цена к книге (TTM 2.60), которая на 118.5% выше медианы. Долговая нагрузка остается низкой, что является положительным знаком, но текущий коэффициент ликвидности (0.33) и отсутствие быстрой ликвидности (0.00) вызывают опасения. Дивидендная доходность значительно упала до 0.13, что также может повлиять на привлекательность акций. В то же время, рост выручки и чистой прибыли по годам (TTM 3.77 млрд) добавляет уверенности в стабильность бизнеса. В целом, несмотря на некоторые слабые стороны, компания демонстрирует позитивный фундаментальный фон, что приводит к корректировке целевой цены в сторону снижения.

W.R. Berkley Corporation

Chubb Limited CB is a leading global property and casualty insurer and reinsurer with a diversified portfolio spanning commercial and personal P&C, reinsurance, accident & health, and life insurance.
Its focus on middle-market opportunities, strategic distribution partnerships, and ongoing growth investments continues to expand its market reach. Geographic and business diversification supports stable cash flows, while earnings have grown 19.7% over the past five years. The company has a market capitalization of $125.9 billion.
CB is an Outperformer
Shares of Chubb have gained 12.1% in the past year, outperforming its industry’s 4.9% decline.
Image Source: Zacks Investment Research
CB’s Expensive Valuation
Shares of Chubb are trading at a premium compared with the Zacks Property and Casualty Insurance industry. Its forward price-to-book value of 1.63X is higher than the industry average of 1.39X.
Shares of The Travelers Companies, Inc. TRV, W.R. Berkley Corporation WRB, and Arch Capital Group Ltd. ACGL are also trading at a multiple higher than the industry average.
Consensus Estimates for CB
The Zacks Consensus Estimate for 2026 earnings is pinned at $26.4 per share, implying a year-over-year increase of 6.5%. The consensus estimate for revenues is pegged at $63.4 billion, indicating a year-over-year improvement of 5.7%. The expected long term earings growth is pegged at 6.1%.
Positive Analyst Sentiment on CB
Over the past 30 days, earnings estimates for Chubb have increased by 0.2% for 2026 and 0.6% for 2027.
Image Source: Zacks Investment Researc
Over the past 30 days, earnings estimates for TRV have been revised upward for 2026, whereas estimates for WRB and ACGL have been revised downward.
Factors Benefiting CB Stock
Chubb is focused on expanding its presence in middle-market businesses globally while strengthening its core and specialty insurance offerings to drive long-term growth. The company is also investing in strategic initiatives and pursuing targeted acquisitions to diversify its portfolio, enhance capabilities, and expand its geographic footprint. Its recent agreement to acquire Liberty Mutual’s insurance businesses in Thailand and Vietnam reflects this strategy.
These acquisitions, along with commercial P&C rate increases, new business growth, and strong renewal retention, are expected to support premium growth and improve long-term return on equity.
CB’s return on equity in the trailing 12 months was 13.2%, better than the industry average of 7.3%. Also, return on invested capital (ROIC) has been increasing over the last few quarters amid capital investments made over the same time frame. This reflects CB’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 8.7%, better than the industry average of 5.7%.
Chubb expects its investment income run rate to keep rising as it reinvests cash flows at higher interest rates. Adjusted investment income increased 9% in 2025, supported by strong returns from both public fixed income and private portfolios. For the first quarter of 2026, the company projects adjusted net investment income in the range of $1.81 billion to $1.84 billion.
The company maintains a solid balance sheet and ample liquidity to support strategic priorities. In 2025, operating cash flow and adjusted operating cash flow totaled $12.8 billion and $13.9 billion, respectively. This strong capital position enables Chubb to return value to shareholders through dividends and share repurchases. In 2025, Chubb returned $4.91 billion to shareholders, including $3.39 billion in share repurchases and $381 million in dividends.
Conclusion
Chubb’s market-leading position, compelling portfolio, strong renewal retention, positive rate increases, solid capital position, and better return on capital pave the way for long-term growth.
The strong capital and liquidity position enable CB to distribute wealth to its shareholders via share buybacks and dividend payouts. The company’s current dividend yield of 1.2% is better than the industry average of 0.3%. The recent 5.2% increase in dividends marks the 33rd straight year of dividend increase. Chubb has a solid track record of dividend hikes, which makes it an attractive pick for investors looking for a safe and steady flow of cash.
However, as a property and casualty insurer, Chubb remains exposed to catastrophe events, which can create volatility in underwriting profitability and impact the combined ratio. Uncertainty around the magnitude of catastrophe losses could weigh on earnings if losses rise. Given these risks and the stock’s premium valuation, we prefer to remain cautious on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Chubb's Solid Growth Comes With a Premium Valuation - Hold or Buy?

Cincinnati Financial Corporation CINF shares have risen 0.8% in the year-to-date period, outperforming the industry, the Finance sector and the Zacks S&P 500 index’s decline of 1.4%, 3.4%, and 1%, respectively.
Cincinnati Financial has outperformed its peers, including Arch Capital Group Ltd. ACGL, W.R. Berkley Corporation. WRB and Palomar Holdings, Inc. PLMR in the year-to-date period. Shares of ACGL have gained 0.3%, while those of WRB and PLMR have lost 3.2% and 8.6%, respectively, in the said time frame.
Image Source: Zacks Investment Research
With a market capitalization of $25.7 billion, the average volume of shares traded in the last three months was 0.7 million.
CINF Trading Above 50-Day and 200-Day Moving Averages
Shares of Cincinnati Financial closed at $164.73 on Tuesday and are trading above the 50-day and 200-day simple moving averages (SMA) of $163.56 and $157.20, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
CINF’s Growth Projection Encourages
The Zacks Consensus Estimate for Cincinnati Financial’s 2026 earnings per share indicates a year-over-year increase of 6.4%. The estimate for 2026 revenues is pegged at $12.13 billion, implying a year-over-year improvement of 8.4%.
The consensus estimate for 2027 earnings per share and revenues indicates an increase of 6.8% and 6.3%, respectively, from the corresponding 2026 estimates.
CINF beat earnings estimates in each of the last four quarters, with an average surprise of 40.5%.
Average Target Price for CINF Suggests Upside
Based on short-term price targets offered by six analysts, the Zacks average price target is $169.67 per share. The average suggests a potential 3.8% upside from the last closing price.
Image Source: Zacks Investment Research
CINF’s Higher Return on Capital
Return on equity in the trailing 12 months was 8.4%, better than the industry average of 7.2%. This highlights the company’s efficiency in utilizing shareholders’ funds.
Factors Acting in Favor of CINF
Prudent pricing, an agent-centric model, a higher level of insured exposures and disciplined expansion of Cincinnati Re should benefit premiums, the primary driver of an insurer’s top line. CINF boasts above-average industry premium growth.
The Excess and Surplus line has been performing well since its inception in 2008. This segment should continue to benefit from new business-written premiums, higher renewal-written premiums and higher average renewal estimated pricing. Technology and data are also used to identify new exposures in emerging businesses.
Improving interest income from fixed-maturity securities and a decrease in equity portfolio dividends in an improved rate environment should drive net investment income.
Notably, its free cash flow conversion has remained more than 150% over the last few quarters, reflecting its solid earnings.
CINF’s Wealth Distribution
In terms of capital management, Cincinnati Financial has returned capital to its shareholders through share buybacks, regular cash dividends and special dividends. The board of directors had increased the annual cash dividend rate for 65 consecutive years. Its dividend yield of 2.1% is better than the industry average of 0.2%, making the stock an attractive pick for yield-seeking investors. The dividend increases reflected strong operating performance and signaled management and the board's positive outlook and confidence in outstanding capital, liquidity and financial flexibility.
End Notes
Higher level of insured exposure, rate increases, agent-focused business models, consistent cash flow and prudent capital deployment make Cincinnati Financial a strong contender for being in one’s portfolio.
Cincinnati Financial has a VGM Score of B. The VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum.
Higher return on capital, favorable growth estimates, as well as impressive dividend history, should continue to benefit Cincinnati Financial over the long term. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Cincinnati Financial Outperforms Industry in YTD: Time to Hold?

Looking at the universe of stocks we cover at Dividend Channel, on 2/23/26, Berkley Corp (Symbol: WRB), Primerica Inc (Symbol: PRI), and Advanced Energy Industries Inc (Symbol: AEIS) will all trade ex-dividend for their respective upcoming dividends. Berkley Corp will pay its quarterly dividend of $0.09 on 3/4/26, Primerica Inc will pay its quarterly dividend of $1.20 on 3/13/26, and Advanced Energy Industries Inc will pay its quarterly dividend of $0.10 on 3/6/26. As a percentage of WRB's recent stock price of $70.80, this dividend works out to approximately 0.13%, so look for shares of Berkley Corp to trade 0.13% lower — all else being equal — when WRB shares open for trading on 2/23/26. Similarly, investors should look for PRI to open 0.46% lower in price and for AEIS to open 0.03% lower, all else being equal.
When an S&P 1500 component reaches 20 years of dividend increases, it becomes a contender to join the elite "Dividend Aristocrats" index. Primerica Inc (Symbol: PRI) is a "future dividend aristocrats contender," with 15+ years of increases.
Below are dividend history charts for WRB, PRI, and AEIS, showing historical dividends prior to the most recent ones declared.
Berkley Corp (Symbol: WRB):
Primerica Inc (Symbol: PRI):
Advanced Energy Industries Inc (Symbol: AEIS):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.51% for Berkley Corp, 1.85% for Primerica Inc, and 0.12% for Advanced Energy Industries Inc.
In Thursday trading, Berkley Corp shares are currently off about 0.3%, Primerica Inc shares are up about 0.2%, and Advanced Energy Industries Inc shares are up about 2.3% on the day.
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Ex-Dividend Reminder: Berkley, Primerica and Advanced Energy Industries

In trading on Thursday, shares of Berkley Corp (Symbol: WRB) crossed above their 200 day moving average of $72.05, changing hands as high as $72.53 per share. Berkley Corp shares are currently trading up about 1% on the day. The chart below shows the one year performance of WRB shares, versus its 200 day moving average:
Looking at the chart above, WRB's low point in its 52 week range is $59.55 per share, with $78.96 as the 52 week high point — that compares with a last trade of $72.41. The WRB DMA information above was sourced from TechnicalAnalysisChannel.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

WRB Crosses Above Key Moving Average Level

The Progressive Corporation’s PGR fourth-quarter 2025 earnings per share of $4.67 beat the Zacks Consensus Estimate by 5.2%. The bottom line increased 14.4% year over year.
Operating revenues increased 10.6% year over year to $22.49 billion and beat the consensus estimate by 2.5%.
The Progressive Corporation Price, Consensus and EPS Surprise
Behind the Headlines
Net premiums written were $19.5 billion in the quarter, up 8% from $18.1 billion a year ago.
Net premiums earned grew 10% to $21 billion. The reported figure surpassed the Zacks Consensus Estimate of $20.9 billion.
Net realized gain on securities was $257 million versus a loss of $53 million in the year-ago quarter.
Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 10 basis points (bps) from the prior-year quarter’s level to 88.
Full-Year Highlights
Operating revenues grew 15.7% year over year to $86.9 billion, driven by 15.3% higher net premiums earned, a 26.5% increase in net investment income, a 12.4% rise in fees and other revenues, and 22% higher service.
Total expenses rose 13.5% to $73.4 billion, attributable to 10% higher losses and loss adjustment expenses, a 13.2% increase in policy acquisition costs, a 19.7% rise in other underwriting expenses, an 18.3% jump in service expenses, a 17.2% improvement in investment expenses, and a policyholder credit expense.
Combined ratio improved 140 bps to 87.4.
December Policies in Force
Policies in force were solid in the Personal Lines segment, increasing 11% from the year-ago month’s figure to 37.4 million. Special Lines improved 7% to 6.9 million.
In the Personal Auto segment, Direct Auto increased 14% year over year to 16 million, while Agency Auto increased 10% to 10.8 million.
Progressive’s Commercial Auto segment rose 4% year over year to 1.2 million. The Property business had 3.6 million policies in force, up 4%.
Financial Update
Progressive’s book value per share was $51.74 as of Dec. 30, 2025, up 18.4% from $43.67 as of Dec. 30, 2024.
Return on equity in December 2025 was 40.1%, up from 36.4% reported in the year-ago period. The total debt-to-total capital ratio improved 270 bps to 18.5.
Zacks Rank
Progressive currently has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
The Travelers Companies, Inc. TRV reported fourth-quarter 2025 core income of $11.13 per share, which beat the Zacks Consensus Estimate by 32% and improved 22% year over year. Travelers’ total revenues increased 3.2% from the year-ago quarter to $12.4 billion, primarily driven by higher premiums, net investment income, and other revenues. The top line beat the Zacks Consensus Estimate by 0.08%.
Net written premiums increased 1% year over year to a record $10.8 billion. Net investment income increased 10.3% year over year to $1 billion. The figure matched the Zacks Consensus Estimate. Travelers witnessed an underwriting gain of $1.7 billion, up 21.7% year over year. The consolidated underlying combined ratio of 82.2 improved 180 bps year over year.
RLI Corp. RLI reported fourth-quarter 2025 operating earnings of 94 cents per share, which beat the Zacks Consensus Estimate by 23.6%. The bottom line increased 80.8% from the prior-year quarter. Operating revenues for the reported quarter were $449 million, up 3% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.
Gross premiums written decreased 2.1% year over year to $463.2 million. This can be attributed to the poor performance of the Property Segment. Our estimate was $505.2 million. Net investment income increased 9.2% year over year to $42.3 million. The Zacks Consensus Estimate was $42.9 million, while our estimate for the metric was pegged at $44.5 million. The investment portfolio’s total return was 1.5% in the quarter.
W.R. Berkley Corporation’s WRB fourth-quarter 2025 operating income of $1.13 per share missed the Zacks Consensus Estimate by 0.9%. The bottom line remained flat year over year. W.R. Berkley’s net premiums written were $3 billion, up 2.1% year over year. The figure was lower than our estimate of $3.2 billion. Operating revenues came in at $3.7 billion, up 5.9% year over year. However, the top line missed the consensus estimate by 0.9%.
Net investment income grew 6.6% to $338.2 million. Total expenses increased 7.2% to $3.1 billion, driven by higher losses and loss expenses. This was quite close to our estimate of $3.2 billion.
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Progressive's Q4 Earnings & Revenues Beat Estimates on Higher Premiums

W.R. Berkley Corporation’sWRB fourth-quarter 2025 operating income of $1.13 per share missed the Zacks Consensus Estimate by 0.9%. The bottom line remained flat year over year.
The insurer benefited from higher premiums and revenues from non-insurance businesses.
W.R. Berkley Corporation Price, Consensus and EPS Surprise
Behind the Headlines
W.R. Berkley’s net premiums written were about $3 billion, up 2.1% year over year. The figure was lower than our estimate as well as the Zacks Consensus Estimate of $3.2 billion.
Operating revenues totalled $3.7 billion, up 5.9% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. However, the top line missed the consensus estimate by 0.9%.
Net investment income grew 6.6% to $338.2 million, driven by strong contributions to total return from net unrealized gains on the equity portfolio. However, the figure fell short of our estimate of $362 million. The consensus estimate was $384 million.
Total expenses increased 7.2% to $3.1 billion, caused by higher losses and loss expenses, other operating costs and expenses, and expenses from non-insurance businesses. This was almost in line with our estimate of $3.2 billion.
The loss ratio decreased 60 basis points (bps) to 61.2, while the expense ratio improved 20 bps year over year to 28.2.
Catastrophe losses of $47.6 million were lower than the $79.6 million incurred in the year-ago quarter. Pre-tax underwriting income grew 14.9% to $338 million.
The consolidated combined ratio (a measure of underwriting profitability) improved 80 basis points year over year to 89.4, missing the Zacks Consensus Estimate of 90.
Segment Details
Net premiums written at the Insurance segment increased 1.7% year over year to $2.7 billion in the quarter, primarily due to higher premiums from other liability, short-tail lines, auto and professional liability. The figure was lower than our estimate of $2.9 billion.
The combined ratio deteriorated 10 basis points year over year to 90.6. Our estimate was 89.
Net premiums written in the Reinsurance & Monoline Excess segment increased 5.4% year over year to $333.8 million. The figure was higher than our estimate of $324.1 million.
The combined ratio deteriorated 740 bps to 81, which matched the Zacks Consensus Estimate. Our estimate was 89.
Full-Year Highlights
Operating income of $4.33 per share beat the Zacks Consensus Estimate by 1.6%. The bottom line improved 4.6% year over year.
Operating revenues amounted to $14.6 billion, up 7.8% year over year on the back of higher net premiums earned as well as improved net investment income and increased insurance service fees and other income as well as revenues from non-insurance businesses. The top line was in line with the consensus estimate.
Net investment income grew 7.2% year over year to a record $1.4 billion.
W.R. Berkley’s net premiums written totaled $12.7 billion, up 6.2% year over year. The Zacks estimates was pegged at 12.9 billion.
Pre-tax underwriting income was $1.2 billion. The consolidated combined ratio was 90.7, which deteriorated 40 bps year over year.
Financial Update
W.R. Berkley exited 2025 with total assets worth $44.1 billion compared with $40.6 billion a year ago.
Senior notes and other debt slipped 0.1% from 2024-end levels to $1.8 billion.
Book value per share increased 16.4% from 2024-end levels to $25.72 as of Dec. 31, 2025.
Cash flow from operations was $3.6 billion in 2025, down 2.6% year over year.
Operating return on equity in 2025 declined 120 basis points year over year to 20.6%.
Capital Deployment
Total capital returned to shareholders was $970.5 million, comprising $567.6 million in special dividends, $270.2 million in share repurchases and $132.7 million in regular dividends.
WRB’s Zacks Rank
W.R. Berkley currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
The Travelers Companies, Inc. TRV reported fourth-quarter 2025 core income of $11.13 per share, which beat the Zacks Consensus Estimate by 32% and improved 22% year over year. Travelers’ total revenues increased 3.2% from the year-ago quarter to $12.4 billion, primarily driven by higher premiums, net investment income, and other revenues. The top line beat the Zacks Consensus Estimate by 0.08%.
Net written premiums increased 1% year over year to a record $10.8 billion. Net investment income increased 10.3% year over year to $1 billion. The figure matched the Zacks Consensus Estimate. Travelers witnessed an underwriting gain of $1.7 billion, up 21.7% year over year. The consolidated underlying combined ratio of 82.2 improved 180 bps year over year.
RLI Corp.RLI reported fourth-quarter 2025 operating earnings of 94 cents per share, which beat the Zacks Consensus Estimate by 23.6%. The bottom line increased 80.8% from the prior-year quarter’s level. Operating revenues for the reported quarter totaled $449 million, up 3% year over year. The top line missed the Zacks Consensus Estimate by 0.4%.
Gross premiums written decreased 2.1% year over year to $463.2 million. This can be attributed to the low performance of the Property Segment. Our estimate was $505.2 million. Net investment income increased 9.2% year over year to $42.3 million. The Zacks Consensus Estimate was $42.9 million, while our estimate for the metric was pegged at $44.5 million. The investment portfolio’s total return was 1.5% in the quarter.
Brown & Brown, Inc.’sBRO fourth-quarter 2025 adjusted earnings of 93 cents per share beat the Zacks Consensus Estimate by 2.1%. The bottom line increased 8.1% year over year.
Total revenues of $1.6 billion missed the Zacks Consensus Estimate by 2.1%. The top line improved 35.7% year over year. Adjusted EBITDAC was $529 million, up 35.6% year over year. EBITDAC margin remained unchanged year over year at 32.9%. Investment income and other income increased 17.3% year over year to $27 million.
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W.R. Berkley Q4 Earnings Miss Estimate, Revenues Up Y/Y

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W R Berkley (WRB) Q4 2025 Earnings Call Transcript

For the quarter ended December 2025, W.R. Berkley (WRB) reported revenue of $3.72 billion, up 5.9% over the same period last year. EPS came in at $1.13, compared to $1.13 in the year-ago quarter.
The reported revenue represents a surprise of -0.94% over the Zacks Consensus Estimate of $3.75 billion. With the consensus EPS estimate being $1.14, the EPS surprise was -0.59%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how W.R. Berkley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Loss ratio - Total: 61.2% compared to the 61.4% average estimate based on three analysts.
Expense Ratio - Total: 28.2% compared to the 28.6% average estimate based on three analysts.
Combined Ratio - Total: 89.4% compared to the 90% average estimate based on three analysts.
Loss ratio - Reinsurance & Monoline Excess: 51.9% compared to the 58.2% average estimate based on two analysts.
Net premiums earned- Insurance: $2.79 billion compared to the $2.84 billion average estimate based on three analysts. The reported number represents a change of +5.8% year over year.
Revenues from non-insurance businesses: $169.34 million versus $159.47 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.9% change.
Net investment income: $338.23 million versus $362.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.6% change.
Net premiums earned: $3.18 billion versus $3.22 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
Net premiums earned- Reinsurance & Monoline Excess: $388.26 million compared to the $378.73 million average estimate based on three analysts. The reported number represents a change of +4.3% year over year.
Insurance service fees: $25.9 million versus the three-analyst average estimate of $27.72 million. The reported number represents a year-over-year change of -5.3%.
Net investment gains (losses)- Net realized gains on investment sales: $5.63 million versus $49.46 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -96.3% change.
Other income (loss): $2.02 million versus the two-analyst average estimate of $1.02 million. The reported number represents a year-over-year change of +213.2%.
Shares of W.R. Berkley have returned -4.9% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, W.R. Berkley (WRB) Q4 Earnings: A Look at Key Metrics

W.R. Berkley (WRB) came out with quarterly earnings of $1.13 per share, missing the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -0.59%. A quarter ago, it was expected that this insurance company would post earnings of $1.07 per share when it actually produced earnings of $1.1, delivering a surprise of +2.8%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
W.R. Berkley, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $3.72 billion for the quarter ended December 2025, missing the Zacks Consensus Estimate by 0.94%. This compares to year-ago revenues of $3.51 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
W.R. Berkley shares have lost about 4.3% since the beginning of the year versus the S&P 500's gain of 1%.
What's Next for W.R. Berkley?
While W.R. Berkley has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for W.R. Berkley was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.17 on $3.72 billion in revenues for the coming quarter and $4.65 on $15.27 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Cincinnati Financial (CINF), another stock in the same industry, has yet to report results for the quarter ended December 2025. The results are expected to be released on February 9.
This insurer is expected to post quarterly earnings of $2.79 per share in its upcoming report, which represents a year-over-year change of -11.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Cincinnati Financial's revenues are expected to be $2.91 billion, up 9.6% from the year-ago quarter.
Should You Invest in W.R. Berkley Corporation (WRB)?
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Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

W.R. Berkley (WRB) Q4 Earnings and Revenues Lag Estimates

(RTTNews) - W. R. Berkley Corporation (WRB) announced earnings for fourth quarter that Drops, from last year
The company's bottom line totaled $449.51 million, or $1.13 per share. This compares with $576.10 million, or $1.44 per share, last year.
Excluding items, W. R. Berkley Corporation reported adjusted earnings of $449.57 million or $1.13 per share for the period.
The company's revenue for the period rose 2.0% to $3.00 billion from $2.94 billion last year.
W. R. Berkley Corporation earnings at a glance (GAAP) :
-Earnings: $449.51 Mln. vs. $576.10 Mln. last year. -EPS: $1.13 vs. $1.44 last year. -Revenue: $3.00 Bln vs. $2.94 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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