Berkley W. R. Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Berkley W. R. Corp. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial positions and activities.</b>

AI Summary

BERKLEY W R CORP (WRB-PG) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Berkley W. R. Corp. filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data for the quarter ended March 31, 2024, and comparative periods. Key financial statement components such as Common Stock, Additional Paid-In Capital, and Retained Earnings are detailed. Accumulated Other Comprehensive Income and Treasury Stock figures are provided for March 31, 2024, and prior periods. The report covers financial activities and balances as of March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking BERKLEY W R CORP, this filing contains several important signals. This filing provides investors and analysts with the latest financial performance and position of Berkley W. R. Corp. for the first quarter of 2024. Understanding the changes in equity, retained earnings, and other comprehensive income offers insights into the company's profitability and financial health.

Risk Assessment

Risk Level: low — BERKLEY W R CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual events or significant deviations from typical financial reporting, suggesting a low level of immediate risk.

Analyst Insight

Monitor the detailed financial statements within the 10-Q for trends in revenue, net income, and equity to assess Berkley W. R. Corp.'s ongoing financial performance.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-03 — Filing Date (Date the report was filed)
• 10-Q — Form Type (Type of filing)
• 0000011544-24-000012 — Accession Number (Unique identifier for the filing)

Key Players & Entities

• BERKLEY W R CORP (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-03 (date) — Filing date
• GREENWICH (location) — Business address city
• DE (location) — State of incorporation

FAQ

Industry Context

Berkley W. R. Corp. operates in the Fire, Marine & Casualty Insurance industry, a sector characterized by underwriting, investment income, and risk management.

Regulatory Implications

As a publicly traded company, Berkley W. R. Corp. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the consolidated balance sheets for changes in assets, liabilities, and equity from the previous quarter.
2. Analyze the statements of comprehensive income to understand revenue generation, expenses, and net income for the quarter.
3. Examine disclosures related to debt, equity, and other financial instruments for any significant changes or covenants.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing updated financial information compared to the previous year's filings.

Filing Documents

• wrb-20240331.htm (10-Q) — 1804KB
• wrb331202410-qex101.htm (EX-10.1) — 233KB
• wrb331202410-qex311.htm (EX-31.1) — 8KB
• wrb331202410-qex312.htm (EX-31.2) — 8KB
• wrb331202410-qex321.htm (EX-32.1) — 6KB
• 0000011544-24-000012.txt (&nbsp;) — 11544KB
• wrb-20240331.xsd (EX-101.SCH) — 70KB
• wrb-20240331_cal.xml (EX-101.CAL) — 111KB
• wrb-20240331_def.xml (EX-101.DEF) — 277KB
• wrb-20240331_lab.xml (EX-101.LAB) — 772KB
• wrb-20240331_pre.xml (EX-101.PRE) — 548KB
• wrb-20240331_htm.xml (XML) — 2294KB

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk

Controls and Procedures

Item 4. Controls and Procedures

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings

Risk Factors

Item 1A. Risk Factors

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Other Information

Item 5. Other Information

SIGNATURES

SIGNATURES EX-10.1 EX-31.1 EX-31.2 EX-32.1 EX-101 INSTANCE DOCUMENT EX-101 SCHEMA DOCUMENT EX-101 CALCULATION LINKBASE DOCUMENT EX-101 LABELS LINKBASE DOCUMENT EX-101 PRESENTATION LINKBASE DOCUMENT EX-101 DEFINITION LINKBASE DOCUMENT 3

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION

. Financial Statements

Item 1 . Financial Statements W. R. BERKLEY CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share data) March 31, 2024 December 31, 2023 (Unaudited) (Audited) Assets Investments: Fixed maturity securities (amortized cost of $ 21,775,516 and $ 20,915,245 ; allowance for expected credit losses of $ 22,869 and $ 36,751 at March 31, 2024 and December 31, 2023, respectively) $ 20,964,854 $ 20,178,308 Investment funds 1,555,818 1,621,655 Real estate 1,273,063 1,249,874 Equity securities 1,178,048 1,090,347 Arbitrage trading account 1,146,119 938,049 Loans receivable (net of allowance for expected credit losses of $ 2,609 and $ 3,004 at March 31, 2024 and December 31, 2023, respectively) 228,766 201,271 Total investments 26,346,668 25,279,504 Cash and cash equivalents 1,169,053 1,363,195 Premiums and fees receivable (net of allowance for expected credit losses of $ 35,039 and $ 35,110 at March 31, 2024 and December 31, 2023, respectively) 3,171,108 3,109,334 Due from reinsurers (net of allowance for expected credit losses of $ 9,185 and $ 8,404 at March 31, 2024 and December 31, 2023, respectively) 3,510,097 3,534,527 Deferred policy acquisition costs 888,719 861,609 Prepaid reinsurance premiums 757,659 758,927 Trading account receivables from brokers and clearing organizations 141,277 303,614 Property, furniture and equipment 466,855 426,803 Goodwill 174,597 174,597 Accrued investment income 217,801 213,408 Current and deferred federal and foreign income taxes 120,754 220,756 Other assets 886,484 865,556 Total assets $ 37,851,072 $ 37,111,830 Liabilities and Equity Liabilities: Reserves for losses and loss expenses $ 19,099,628 $ 18,739,652 Unearned premiums 5,996,812 5,922,326 Due to reinsurers 683,508 631,164 Trading account securities sold but not yet purchased 40,298 9,357 Other liabilities 1,395,048 1,503,053 Senior notes and other debt 1,827,997 1,827,951 Subordinated debentures 1,009,269 1,0

View Full Filing

View this 10-Q filing on SEC EDGAR