WR Berkley Reports Q3 Net Income Decrease, Operating Income Up

Third quarter 2026 net income at W.R. Berkley Corp. decreased about 12.7% compared to the same period a year ago to about $446 million.

However, operating income for the second quarter was $456.5 million, up from $440.2 million during the same time in 2025.

The Q3 consolidated combined ratio at the Greenwich, Connecticut-based commercial insurer was 90.8—about flat from 90.9 a year ago. Excluding catastrophe losses, the accident year combined ratio was 88.1.

Total accident year catastrophe losses for Q3 2026 were about $85.9 million compared with about $78.5 million during Q3 2025.

W.R. Berkley’s insurance segment combined ratio for the period was 91.7 from 92.3 in Q3 2025. Pre-tax underwriting income for the insurance segment grew 10.6% to $237.7 million

“Our underwriting results have consistently been outstanding due to our unwavering commitment to rate adequacy and attention to terms and conditions,” said chairman, president and CEO W. Robert Berkley, Jr.

The reinsurance and monoline excess segment saw its combined ratio worsen slightly to 83.4 compared with 81.1.

W.R. Berkley said it returned $728.6 million to shareholders year-to-date, including $435.1 million of share repurchases.

“The strong prevailing interest rate tailwind has set investment income on a path to greater earnings contributions, and greater utilization of technology is enabling us to further leverage our underwriting and claims expertise,” said Berkley.