- W. R. Berkley ( NYSE: WRB ) stock fell ~5% on Tuesday despite Q3 results beating estimates.
- Total revenues grew +12.38% Y/Y to $2.72B. Net premiums earned increased +17.34% Y/Y to 2.44B.
- Operating return on equity was 16.9%, compared to 15.6% in Q3 2021.
- The current accident year combined ratio before catastrophe losses of 3.9 loss ratio points was 86.6%, according to the company's earnings release.
- Net premiums written grew +10.84% to $2.58B.
- WRB said that the short duration and quality of its fixed-maturity securities tempered the market value impact on the company's book value and allowed it to quickly invest more funds at higher interest rates and grow core net investment income by 51%.
- Operating income per share grew +14.77% Y/Y to $1.01.
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W. R. Berkley stock dips despite Q3 beat