W. R. Berkley CorporationWRB
NYSE•Financial Services•Insurance - Property & Casualty
W. R. Berkley Corporation, an insurance holding company, operates as a commercial line writer worldwide. The company operates through Insurance and Reinsurance & Monoline Excess segments. 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; 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, it offers cyber risk solutions; crime and fidelity insurance products; medical professional coverages; workers' compensation insurance products; management liability and general insurance products; personal lines insurance solutions, including home, condo/co-op, auto, fine arts and collectibles, liability, collector vehicle, and recreational marine; law enforcement, public officials and educator's legal, and employment practices liability, as well as incidental medical, property, and crime insurance products; at-risk and alternative risk insurance program management services; professional liability; energy and marine risks; and insurance products to the Lloyd's marketplace. The Reinsurance & Monoline Excess segment provides treaty and facultative reinsurance solutions; property and casualty reinsurance products; 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 (WRB) reported trailing twelve months revenue of $14.85B as of March 2026, a 6.6% increase year-over-year. Quarterly revenue reached $3.69B, reflecting continued top-line momentum.
W.R. Berkley Corporation generated $1.88B in TTM net income, with quarterly EBITDA of $616.10M. The operating margin expanded from 15.2% to 16.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (16.7%) and net margin (14.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 11.8% a year ago, signaling stronger bottom-line efficiency.
WRB trades at a P/E of 13.8x (below the broader market average) and a P/S of 1.7x. The price-to-book ratio of 2.7x reflects a moderate premium to book value.
The company generated $640.19M in free cash flow over the trailing twelve months, a 12.0% decrease year-over-year, indicating cash generation ability. The balance sheet shows $44.32B in total assets with no in long-term debt against $9.74B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~15.9%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 20.3% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~15.9% — no sign of cost or pricing stress.
FCF covers net income by 2.0x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation