Overview

* W.R. Berkley Q3 net income rises 39.8% to $511 mln

* Gross premiums written increased to $3.8 bln in Q3

* Combined ratio stable at 90.9%, reflecting strong underwriting

Outlook

* Company did not provide specific financial guidance for future periods in its press release

Result Drivers

* UNDERWRITING DISCIPLINE - Co attributes strong combined ratio of 90.9% to disciplined underwriting and focus on long-term risk-adjusted return

* INVESTMENT INCOME - Net investment income rose 9.4% driven by core portfolio increase and favorable new money rate

* RATE INCREASES - Average rate increases excluding workers compensation were approximately 7.6%

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $1.28

Q3 Net $511 mln

Income

Q3 90.90%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy."

* Wall Street's median 12-month price target for W R Berkley Corp ( WRB ) is $76.00, about 2.6% above its October 17 closing price of $74.05

* The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)