W. R. Berkley's Q3 EPS Beat Driven by Stronger Underlying Loss Ratio, UBS Says

11:51 AM EDT, 10/20/2026 (MT Newswires) -- W. R. Berkley's (WRB) Q3 EPS beat was driven by a stronger underlying loss ratio in Insurance, partially offset by weaker-than-expected investment funds returns, UBS said in a note emailed Tuesday. The company reported Q3 operating income of $1.17 per diluted share late Monday on revenue of $3.74 billion. Analysts polled by FactSet expected EPS of $1.15 on revenue of $3.82 billion. The company expects its Insurance business growth in the mid-to-high-single digits, compared with the analysts' projection of mid-single-digit growth. Its Reinsurance business is seen declining by 10% to 20% due to competitive pressures, according to the note. In the company's earnings call, the company stated it is lowering its exposure in casualty reinsurance, commercial property, commercial auto, and larger accounts where pricing is less adequate. W. R. Berkley is seeing better opportunities in smaller commercial accounts, liability, private client and select professional lines, the firm said. UBS kept its rating on the company's stock at neutral with a price target of $77 per share. Price: 73.32, Change: -0.76, Percent Change: -1.03