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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 27, 2025
Commission File Number
1-15202


     W. R. BERKLEY CORPORATION     
(Exact name of registrant as specified in its charter)
Delaware22-1867895
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification No.)
  
475 Steamboat RoadGreenwichConnecticut06830
(Address of principal executive offices)(Zip Code)
(203)629-3000
(Registrant’s telephone number, including area code)
None
Former name, former address and former fiscal year, if changed since last report.

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of Each Class Trading Symbol Name of Each Exchange
on Which Registered
Common Stock, par value $.20 per share WRB New York Stock Exchange
5.700% Subordinated Debentures due 2058WRB-PENew York Stock Exchange
5.100% Subordinated Debentures due 2059WRB-PFNew York Stock Exchange
4.250% Subordinated Debentures due 2060WRB-PGNew York Stock Exchange
4.125% Subordinated Debentures due 2061WRB-PHNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).    Emerging growth company         


W. R. Berkley Corporation         2

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.         


W. R. Berkley Corporation         3

Item 2.02 Results of Operations and Financial Condition.
Reference is made to the press release of W. R. Berkley Corporation (the “Company”) relating to the announcement of the Company’s results of operations for the fourth quarter of 2024. The press release was issued on January 27, 2025. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
The information contained herein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.


W. R. Berkley Corporation         4

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 Press Release dated January 27, 2025





W. R. Berkley Corporation         5



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

W. R. BERKLEY CORPORATION




By: /s/ Richard M. Baio
Name:Richard M. Baio
Title:Executive Vice President -
Chief Financial Officer




        


Date: January 27, 2025


W. R. Berkley Corporation         6

EXHIBIT INDEX


Exhibit:
99.1         Press Release dated January 27, 2025






NEWS
RELEASE
W. R. Berkley Corporation
475 Steamboat Road
Greenwich, Connecticut 06830
(203) 629-3000
             
FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath
Vice President - External
Financial Communications
(203) 629-3000


W. R. Berkley Corporation Reports Fourth Quarter and Full Year 2024 Results
Fourth Quarter Return on Equity of 30.9% and Operating Return on Equity of 24.3%;
Quarterly Net Income and Record Operating Income Increased 45.0% and 15.5% to $576 Million and $453 Million;
Record Annual Pre-Tax Underwriting Income of $1.1 Billion and Net Income of $1.8 Billion
Greenwich, CT, January 27, 2025 - W. R. Berkley Corporation (NYSE: WRB) today reported its fourth quarter and full year 2024 results.
Summary Financial Data
(Amounts in thousands, except per share data)
Fourth QuarterTwelve Months
2024202320242023
Gross premiums written$3,497,284 $3,232,710 $14,211,090 $12,972,006 
Net premiums written2,936,750 2,719,668 11,972,096 10,954,467 
Net income to common stockholders576,101 397,340 1,756,115 1,381,359 
Net income per diluted share (1)1.44 0.98 4.36 3.37 
Operating income (2)452,591 391,753 1,667,612 1,344,567 
Operating income per diluted share (1)1.13 0.96 4.14 3.28 
Return on equity (3)30.9 %23.6 %23.6 %20.5 %
Operating return on equity (2) (3)24.3 %23.2 %22.4 %19.9 %

(1)The 2023 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024.
(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.
(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.



W. R. Berkley Corporation        2

Fourth quarter highlights included:
Return on equity and operating return on equity of 30.9% and 24.3%, respectively.
Net income increased 45.0% to $576 million and operating income increased 15.5% to a record $453 million.
The current accident year combined ratio before catastrophe losses of 2.6 loss ratio points was 87.7%, and the reported combined ratio was 90.2%.
Average rate increases excluding workers' compensation were approximately 7.7%.
Operating cash flow increased 16.0% to $810.0 million.
Total capital returned to shareholders was $287.8 million, consisting of $190.0 million of special dividends, $67.4 million of share repurchases and $30.4 million of regular dividends.

Full year highlights included:
Return on equity and operating return on equity of 23.6% and 22.4%, respectively.
Book value per share grew 23.5%, before dividends and share repurchases.
Record annual pre-tax underwriting income of $1.1 billion and net income of $1.8 billion.
Gross and net premiums written grew 9.6% and 9.3% to records of $14.2 billion and $12.0 billion, respectively.
Average rate increases excluding workers' compensation were approximately 7.9%.
Net investment income grew 26.6% to a record of $1.3 billion.
Operating cash flow increased 25.6% to a record of $3.7 billion.
Total capital returned to shareholders was $835.6 million, consisting of $412.3 million of special dividends, $303.7 million of share repurchases and $119.6 million of regular dividends.

The Company commented:
The Company once again set new financial records in 2024. Full year results were highlighted by record net income, with outstanding underwriting performance and net investment income, culminating in a 23.6% return on beginning of year equity. Growth in book value per share was 23.5%, before $836 million of capital returned to shareholders through special and ordinary dividends and share repurchases.
In the fourth quarter, we delivered an outstanding 30.9% annualized return on beginning of year equity. Our thoughtful growth strategy remains focused on achieving superior long-term risk-adjusted returns. Our decentralized structure remains a key competitive advantage, enabling us to effectively manage risks and capitalize on opportunities in a market where business lines increasingly operate independently. Our calendar year combined ratio of 90.2% once again demonstrated our focus on managing volatility.
We positioned our investment portfolio well for changes in the environment, which resulted in robust growth in net investment income from our fixed-maturity portfolio and a strong contribution to total return from net unrealized gains on our equity portfolio. Current reinvestment rates continue to exceed our annual book yield, and our invested assets have increased from record operating cash flow, positioning us for further investment income growth in 2025.
The Company excelled by most business measures in 2024, and we anticipate ongoing success for our shareholders in 2025. The current property and casualty (re)insurance and investment environments remain favorable to our business model. We are confident in our ability to deliver superior long-term risk-adjusted returns and enhanced shareholder value in 2025 and beyond.



W. R. Berkley Corporation        3
Webcast Conference Call
    The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on January 27, 2025, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.
About W. R. Berkley Corporation
    Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.





W. R. Berkley Corporation        4
Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2025 and beyond, are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to: the cyclical nature of the property casualty industry; the impact of significant competition, including new entrants to the industry; the long-tail and potentially volatile nature of the insurance and reinsurance business; product demand and pricing; claims development and the process of estimating reserves; investment risks, including those of our portfolio of fixed maturity securities and investments in equity securities, including investments in financial institutions, municipal bonds, mortgage-backed securities, loans receivable, investment funds, including real estate, merger arbitrage, energy related and private equity investments; the effects of emerging claim and coverage issues; the uncertain nature of damage theories and loss amounts, including claims for cyber security-related risks; natural and man-made catastrophic losses, including as a result of terrorist activities; the ongoing effects of the COVID-19 pandemic, or other epidemics and pandemics; the impact of climate change, which may alter the frequency and increase the severity of catastrophe events; general economic and market activities, including inflation, interest rates, and volatility in the credit and capital markets; the impact of the conditions in the financial markets and the global economy, and the potential effect of legislative, regulatory, accounting or other initiatives taken in response to such conditions, on our results and financial condition; foreign currency and political risks relating to our international operations; our ability to attract and retain key personnel and qualified employees; continued availability of capital and financing; the success of our new ventures or acquisitions and the availability of other opportunities; the availability of reinsurance; our retention under the Terrorism Risk Insurance Program Reauthorization Act of 2019; the ability or willingness of our reinsurers to pay reinsurance recoverables owed to us; other legislative and regulatory developments, including those related to business practices in the insurance industry; credit risk related to our policyholders, independent agents and brokers; changes in the ratings assigned to us or our insurance company subsidiaries by rating agencies; the availability of dividends from our insurance company subsidiaries; cyber security breaches of our information technology systems and the information technology systems of our vendors and other third parties, or related processes and systems; the effectiveness of our controls to ensure compliance with guidelines, policies and legal and regulatory standards; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties could cause our actual results for the year 2025 and beyond to differ materially from those expressed in any forward-looking statement we make. Any projections of growth in our revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.



# # #











W. R. Berkley Corporation        5
Consolidated Financial Summary
(Amounts in thousands, except per share data)
Fourth QuarterTwelve Months
2024202320242023
Revenues:
  Net premiums written$2,936,750 $2,719,668 $11,972,096 $10,954,467 
  Change in net unearned premiums74,151 (5,054)(423,611)(553,780)
    Net premiums earned3,010,901 2,714,614 11,548,485 10,400,687 
  Net investment income317,438 313,341 1,333,161 1,052,835 
  Net investment gains:
  Net realized and unrealized gains (losses) on investments151,903 (2,862)79,738 47,540 
   Change in allowance for credit losses on investments6,623 10,666 37,970 (498)
  Net investment gains158,526 7,804 117,708 47,042 
  Revenues from non-insurance businesses152,706 160,283 528,012 535,508 
  Insurance service fees27,352 25,194 108,935 106,485 
  Other income645 146 2,451 381 
       Total Revenues3,667,568 3,221,382 13,638,752 12,142,938 
Expenses:
   Loss and loss expenses1,861,261 1,627,540 7,131,595 6,372,142 
   Other operating costs and expenses897,416 906,011 3,602,306 3,363,936 
   Expenses from non-insurance businesses148,839 154,754 513,451 524,998 
   Interest expense31,751 31,879 126,907 127,459 
     Total expenses2,939,267 2,720,184 11,374,259 10,388,535 
     Income before income tax728,301 501,198 2,264,493 1,754,403 
   Income tax expense(152,958)(102,234)(509,916)(370,557)
     Net Income before noncontrolling interests575,343 398,964 1,754,577 1,383,846 
   Noncontrolling interest758 (1,624)1,538 (2,487)
     Net income to common stockholders$576,101 $397,340 $1,756,115 $1,381,359 
 Net income per share (1):
 Basic$1.45 $0.98 $4.39 $3.40 
 Diluted$1.44 $0.98 $4.36 $3.37 
 Average shares outstanding (1) (2):
 Basic398,042 403,580 399,734 406,500 
 Diluted400,888 406,523 403,224 409,948 

(1)The 2023 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024.
(2)Basic shares outstanding consist of the weighted average number of common shares outstanding during the period (including shares held in a grantor trust). Diluted shares outstanding consist of the weighted average number of basic and common equivalent shares outstanding during the period.




W. R. Berkley Corporation        6
Business Segment Operating Results
(Amounts in thousands, except ratios) (1) (2)
Fourth QuarterTwelve Months
2024202320242023
Insurance:
   Gross premiums written$3,161,104 $2,874,901 $12,662,132 $11,461,094 
   Net premiums written2,620,112 2,384,629 10,549,550 9,560,533 
   Net premiums earned2,638,481 2,357,349 10,086,308 9,007,376 
   Pre-tax income504,460 480,031 1,942,083 1,629,918 
   Loss ratio62.2 %61.0 %62.8 %62.3 %
   Expense ratio28.3 %28.4 %28.4 %28.3 %
   GAAP Combined ratio90.5 %89.4 %91.2 %90.6 %
Reinsurance & Monoline Excess:
   Gross premiums written$336,180 $357,809 $1,548,958 $1,510,912 
   Net premiums written316,638 335,039 1,422,546 1,393,934 
   Net premiums earned372,420 357,265 1,462,177 1,393,311 
   Pre-tax income109,296 132,140 466,595 449,285 
   Loss ratio58.9 %53.0 %54.7 %54.3 %
   Expense ratio29.5 %28.5 %29.4 %29.4 %
   GAAP Combined ratio88.4 %81.5 %84.1 %83.7 %
Corporate and Eliminations:
   Net investment gains$158,526 $7,804 $117,708 $47,042 
   Interest expense(31,751)(31,879)(126,907)(127,459)
   Other expenses(12,230)(86,898)(134,986)(244,383)
   Pre-tax income (loss)114,545 (110,973)(144,185)(324,800)
Consolidated:
   Gross premiums written$3,497,284 $3,232,710 $14,211,090 $12,972,006 
   Net premiums written2,936,750 2,719,668 11,972,096 10,954,467 
   Net premiums earned3,010,901 2,714,614 11,548,485 10,400,687 
   Pre-tax income 728,301 501,198 2,264,493 1,754,403 
   Loss ratio61.8 %60.0 %61.8 %61.3 %
   Expense ratio28.4 %28.4 %28.5 %28.4 %
   GAAP Combined ratio90.2 %88.4 %90.3 %89.7 %


(1)Loss ratio is losses and loss expenses incurred expressed as a percentage of premiums earned. Expense ratio is underwriting expenses expressed as a percentage of premiums earned. GAAP combined ratio is the sum of the loss ratio and the expense ratio.
(2)Commencing with the first quarter of 2024, the Company reclassified a program management business from the Insurance segment to the Reinsurance & Monoline Excess segment. The reclassified business is a program management business offering support on a nationwide basis for commercial casualty and property program administrators. Reclassifications have been made to the Company's 2023 financial information to conform with this presentation.



W. R. Berkley Corporation        7
Supplemental Information
(Amounts in thousands)
Fourth QuarterTwelve Months
2024202320242023
Net premiums written:
   Other liability$1,063,789 $970,672 $4,277,085 $3,837,844 
   Short-tail lines (1)581,260 505,975 2,349,615 2,025,320 
   Auto384,279 348,253 1,554,299 1,378,425 
   Workers' compensation304,431 290,203 1,243,674 1,228,058 
   Professional liability286,353 269,526 1,124,877 1,090,886 
     Total Insurance2,620,112 2,384,629 10,549,550 9,560,533 
   Casualty (2)170,720 201,679 738,242 791,385 
 Property (2)105,735 98,074 412,660 354,424 
 Monoline excess 40,183 35,286 271,643 248,125 
     Total Reinsurance & Monoline Excess316,638 335,039 1,422,546 1,393,934 
          Total$2,936,750 $2,719,668 $11,972,096 $10,954,467 
Current accident year losses from catastrophes:
   Insurance$35,645 $20,440 $226,576 $159,848 
   Reinsurance & Monoline Excess43,973 11,577 71,046 35,114 
     Total$79,618 $32,017 $297,622 $194,962 
Net Investment income:
   Core portfolio (3)$312,785 $285,841 $1,275,079 $966,723 
   Investment funds(12,358)11,300 (11,491)16,743 
   Arbitrage trading account17,011 16,200 69,573 69,369 
     Total$317,438 $313,341 $1,333,161 $1,052,835 
Net realized and unrealized gains (losses) on investments:
   Net realized losses on investments$(11,339)$(27,705)$(41,061)$(22,908)
   Change in unrealized gains on equity securities163,242 24,843 120,799 70,448 
     Total$151,903 $(2,862)$79,738 $47,540 
Other operating costs and expenses:
   Policy acquisition and insurance operating expenses$855,997 $771,170 $3,294,902 $2,954,686 
   Insurance service expenses24,331 21,379 90,640 91,714 
   Net foreign currency (gains) losses(53,699)33,577 (52,376)31,799 
   Other costs and expenses70,787 79,885 269,140 285,737 
     Total$897,416 $906,011 $3,602,306 $3,363,936 
Cash flow from operations$810,033 $698,076 $3,678,368 $2,929,238 
Reconciliation of net income to operating income:
   Net income$576,101 $397,340 $1,756,115 $1,381,359 
   Pre-tax investment gains, net of related expenses(158,526)(7,804)(117,708)(47,042)
   Income tax expense35,016 2,217 29,205 10,250 
     Operating income after-tax (4)$452,591 $391,753 $1,667,612 $1,344,567 
(1)Short-tail lines include commercial multi-peril (non-liability), inland marine, accident and health, fidelity and surety, boiler and machinery, high net worth homeowners and other lines.
(2)Includes reinsurance casualty and property and certain program management business.
(3)Core portfolio includes fixed maturity securities, equity securities, cash and cash equivalents, real estate and loans receivable.
(4)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses). Net investment gains (losses) are computed net of related expenses, including performance-based compensatory costs associated with realized investment gains. Management believes this measurement provides a useful indicator of trends in the Company’s underlying operations.



W. R. Berkley Corporation        8
Selected Balance Sheet Information
(Amounts in thousands, except per share data)
December 31, 2024December 31,
2023
Net invested assets (1)$29,780,638 $26,973,703 
Total assets40,567,268 37,202,015 
Reserves for losses and loss expenses20,368,030 18,739,652 
Senior notes and other debt1,831,158 1,827,951 
Subordinated debentures1,009,808 1,009,090 
Common stockholders' equity (2)8,395,111 7,455,431 
Common stock outstanding (3) (4)380,066 384,817 
Book value per share (4) (5)22.09 19.37 
Tangible book value per share (4) (5) 21.46 18.72 


(1)Net invested assets include investments, cash and cash equivalents, trading accounts receivable from brokers and clearing organizations, trading account securities sold but not yet purchased and unsettled purchases, net of related liabilities.
(2)As of December 31, 2024, reflected in common stockholders' equity are after-tax unrealized investment losses of $517 million and unrealized currency translation losses of $417 million. As of December 31, 2023, reflected in common stockholders' equity are after-tax unrealized investment losses of $586 million and unrealized currency translation losses of $340 million.
(3)During the year ended December 31, 2024, the Company repurchased 5,702,996 shares of its common stock for $303.7 million. During the three months ended December 31, 2024, the Company repurchased 1,165,867 shares of its common stock for $67.4 million. The number of shares of common stock outstanding excludes shares held in a grantor trust.
(4)The 2023 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024.
(5)Book value per share is total common stockholders’ equity divided by the number of common shares outstanding. Tangible book value per share is total common stockholders’ equity excluding the after-tax value of goodwill and other intangible assets divided by the number of common shares outstanding.




W. R. Berkley Corporation        9
Investment Portfolio
December 31, 2024
(Amounts in thousands, except percentages)
Carrying ValuePercent of Total
Fixed maturity securities:
   United States government and government agencies$2,235,341 7.5 %
   State and municipal:
        Special revenue1,517,708 5.1 %
        State general obligation307,514 1.0 %
        Local general obligation272,376 0.9 %
        Corporate backed153,574 0.5 %
        Pre-refunded85,592 0.3 %
            Total state and municipal2,336,764 7.8 %
   Mortgage-backed securities:
        Agency3,045,639 10.2 %
        Commercial532,282 1.8 %
        Residential - Prime187,806 0.6 %
        Residential - Alt A2,055 0.0 %
            Total mortgage-backed securities3,767,782 12.6 %
   Asset-backed securities3,885,012 13.0 %
   Corporate:
        Industrial3,667,199 12.3 %
        Financial3,320,513 11.2 %
        Utilities778,694 2.6 %
        Other651,235 2.2 %
            Total corporate 8,417,641 28.3 %
   Foreign government 1,755,325 5.9 %
            Total fixed maturity securities (1)22,397,865 75.1 %
Equity securities available for sale:
   Common stocks760,167 2.6 %
   Preferred stocks443,621 1.5 %
            Total equity securities available for sale1,203,788 4.1 %
Cash and cash equivalents (2)1,891,232 6.4 %
Investment funds1,468,246 4.9 %
Real estate1,291,455 4.3 %
Arbitrage trading account1,122,599 3.8 %
Loans receivable405,453 1.4 %
          Net invested assets$29,780,638 100.0 %


(1)Total fixed maturity securities had an average rating of AA- and an average duration of 2.6 years, including cash and cash equivalents.
(2)Cash and cash equivalents includes trading accounts receivable from brokers and clearing organizations, trading account securities sold but not yet purchased and unsettled purchases.

v3.24.4
Cover Page
Jan. 27, 2025
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jan. 27, 2025
Entity File Number 1-15202
Entity Registrant Name W. R. BERKLEY CORP
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 22-1867895
Entity Address, Address Line One 475 Steamboat Road
Entity Address, City or Town Greenwich
Entity Address, State or Province CT
Entity Address, Postal Zip Code 06830
City Area Code (203)
Local Phone Number 629-3000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $.20 per share
Trading Symbol WRB
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000011544
Amendment Flag false
5.700% Subordinated Debentures due 2058  
Entity Information [Line Items]  
Title of 12(b) Security 5.700% Subordinated Debentures due 2058
Trading Symbol WRB-PE
Security Exchange Name NYSE
5.100% Subordinated Debentures due 2059  
Entity Information [Line Items]  
Title of 12(b) Security 5.100% Subordinated Debentures due 2059
Trading Symbol WRB-PF
Security Exchange Name NYSE
4.250% Subordinated Debentures due 2060  
Entity Information [Line Items]  
Title of 12(b) Security 4.250% Subordinated Debentures due 2060
Trading Symbol WRB-PG
Security Exchange Name NYSE
4.125% Subordinated Debentures due 2061  
Entity Information [Line Items]  
Title of 12(b) Security 4.125% Subordinated Debentures due 2061
Trading Symbol WRB-PH
Security Exchange Name NYSE

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