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Actionable news in WRB: W.R BERKLEY CORPORATION,

W. R. Berkley Corporation

W.R. Berkley Corp. reports financial results for the quarter ended June 30, 2017.We analyze the earnings along side the following peers of W.R. Berkley Corp. - White Mountains Insurance Group Ltd, Selective Insurance Group, Inc., Alleghany Corporation, XL Group Ltd, Arch Capital Group Ltd., American Financial Group, Inc. and OneBeacon Insurance Group, Ltd. Class A (WTM-US, SIGI-US, Y-US, XL-US, ACGL-US, AFG-US and OB-US) that have also reported for this period.

  • Summary numbers: Revenues of USD 1,848.05 million, Net Earnings of USD 109.00 million.
  • Year-on-year change in operating cash flow of 8.50% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Earnings growth from operating margin improvements as well as from unusual items

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income (See complete table at the end of this report):

2017-06-302017-03-312016-12-312016-09-302016-06-30
Revenues (mil)18481870.41971.32019.71855.9
Revenue Growth (%YOY)-0.4242.57.67.83.7
Earnings (mil)109123.4152.8220.7109
Earnings Growth (%YOY)0.0343.339.244.6-11.4
Net Margin (%)5.96.67.810.95.9
EPS0.850.961.21.70.85
Return on Equity (%)2.12.434.52.2
Return on Assets (%)1.82.12.63.81.9

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Spreadsheet

Spreadsheet

WRB-US's change in revenue this period compared to the same period last year of -0.42% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that WRB-US is holding onto its market share. Also, for comparison purposes, revenues changed by -1.20% and earnings by -11.70% compared to the...


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