W. R. Berkley Corp. Files Q2 2024 10-Q
Ticker: WRB-PG · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 11544
| Field | Detail |
|---|---|
| Company | Berkley W R Corp (WRB-PG) |
| Form Type | 10-Q |
| Filed Date | Aug 2, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, insurance, financials
TL;DR
WRB 10-Q filed: Q2 2024 financials out, shows ongoing insurance biz.
AI Summary
W. R. Berkley Corporation (WRB) filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and segment information are presented, reflecting the company's ongoing business activities in the insurance sector.
Why It Matters
This filing provides investors with a detailed look at W. R. Berkley's financial health and operational performance during the second quarter of 2024, crucial for understanding the company's current standing and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures for a publicly traded company.
Key Players & Entities
- BERKLEY W R CORP (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240802 (date) — Filing Date
- FIRE, MARINE & CASUALTY INSURANCE (industry) — Standard Industrial Classification
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 2, 2024.
What is W. R. Berkley Corporation's Standard Industrial Classification?
W. R. Berkley Corporation's Standard Industrial Classification is FIRE, MARINE & CASUALTY INSURANCE [6331].
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What is the company's business address?
The business address is 475 STEAMBOAT ROAD, GREENWICH, CT 06830.
Filing Stats: 4,770 words · 19 min read · ~16 pages · Grade level 19.5 · Accepted 2024-08-02 16:11:08
Filing Documents
- wrb-20240630.htm (10-Q) — 2306KB
- wrb630202410-qex311.htm (EX-31.1) — 8KB
- wrb630202410-qex312.htm (EX-31.2) — 8KB
- wrb630202410-qex321.htm (EX-32.1) — 6KB
- 0000011544-24-000024.txt ( ) — 12894KB
- wrb-20240630.xsd (EX-101.SCH) — 69KB
- wrb-20240630_cal.xml (EX-101.CAL) — 108KB
- wrb-20240630_def.xml (EX-101.DEF) — 276KB
- wrb-20240630_lab.xml (EX-101.LAB) — 771KB
- wrb-20240630_pre.xml (EX-101.PRE) — 547KB
- wrb-20240630_htm.xml (XML) — 2870KB
— 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-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) June 30, 2024 December 31, 2023 (Unaudited) (Audited) Assets Investments: Fixed maturity securities (amortized cost of $ 21,911,417 and $ 20,915,245 ; allowance for expected credit losses of $ 21,871 and $ 36,751 at June 30, 2024 and December 31, 2023, respectively) $ 21,082,676 $ 20,178,308 Investment funds 1,589,119 1,621,655 Real estate 1,279,306 1,249,874 Equity securities 1,078,092 1,090,347 Arbitrage trading account 1,221,861 938,049 Loans receivable (net of allowance for expected credit losses of $ 1,813 and $ 3,004 at June 30, 2024 and December 31, 2023, respectively) 349,325 201,271 Total investments 26,600,379 25,279,504 Cash and cash equivalents 1,580,270 1,363,195 Premiums and fees receivable (net of allowance for expected credit losses of $ 37,279 and $ 35,110 at June 30, 2024 and December 31, 2023, respectively) 3,430,991 3,109,334 Due from reinsurers (net of allowance for expected credit losses of $ 10,255 and $ 8,404 at June 30, 2024 and December 31, 2023, respectively) 3,501,892 3,534,527 Deferred policy acquisition costs 939,453 861,609 Prepaid reinsurance premiums 814,858 758,927 Trading account receivables from brokers and clearing organizations 40,705 303,614 Property, furniture and equipment 477,034 426,803 Goodwill 184,089 174,597 Accrued investment income 225,214 213,408 Current and deferred federal and foreign income taxes 220,080 220,756 Other assets 894,954 865,556 Total assets $ 38,909,919 $ 37,111,830 Liabilities and Equity Liabilities: Reserves for losses and loss expenses $ 19,567,190 $ 18,739,652 Unearned premiums 6,332,699 5,922,326 Due to reinsurers 730,407 631,164 Trading account securities sold but not yet purchased 81,273 9,357 Other liabilities 1,573,428 1,503,053 Senior notes and other debt 1,828,422 1,827,951 Subordinated debentures 1,009,449 1,009,09