WR Berkley reported adjusted earnings per share of $1.27 for the second quarter of 2026, beating the analyst consensus estimate of $1.08 by 16.51%. This represents a 20.95% increase over earnings of $1.05 per share from the same period last year. The company reported quarterly sales of $3.716 billion, which missed the analyst consensus estimate of $3.759 billion by 1.14%. Sales increased 1.25% compared to $3.670 billion in the prior year.

The company’s performance was driven by disciplined underwriting and favorable pricing, contributing to record gross premiums written of $4.1 billion. Net income increased 12.7% to $452.3 million, or $1.15 per diluted share, compared to $401.3 million, or $1.00 per share, in the prior year. Operating income grew 18.2% to $497.1 million, reflecting an annualized operating return on beginning-of-year stockholders’ equity of 20.5%.

Second Quarter Financial Highlights

The Insurance segment grew gross and net premiums written by 5.4% and 3.7%, respectively, to record levels. Net investment income increased 10.4% to a record $418.7 million, supported by growth in invested assets and a higher portfolio yield. Pre-tax underwriting income grew 21.8% to $317.5 million. WR Berkley returned $334.1 million in capital to shareholders during the quarter, consisting of $185.5 million of special dividends, $111.5 million of share repurchases and $37.1 million of regular dividends.

W. R. Berkley Corporation has appointed Paul J. Stock as president of Carolina Casualty, effective immediately. The leadership change aims to strengthen the subsidiary's position in the transportation insurance market. Stock succeeds the previous leadership and will report to the parent company's executive team.

Stock brings over 20 years of experience in the property and casualty insurance industry, with a focus on the transportation sector. His expertise spans claims, product management, underwriting, risk management, telematics, and commercial vehicle technology. He joined Carolina Casualty in early 2025 as divisional president, where he led the transformation of the claims and risk management departments, along with other functional areas.

W. Robert Berkley, Jr., chairman, chief executive officer, and president of W. R. Berkley Corporation, highlighted Stock's leadership impact. "Paul has brought extensive leadership experience and expertise to the business," Berkley said. "We are pleased that he has assumed the role of president at Carolina Casualty to lead our team in this dynamic market."

Carolina Casualty is a national provider of primary commercial insurance products and services to the transportation industry. It offers tailored transportation insurance solutions on an admitted basis in all 50 states and the District of Columbia. The subsidiary operates under W. R. Berkley Corporation, which was founded in 1967 and is among the largest commercial lines writers in the United States.

W. R. Berkley Corporation operates worldwide in two segments: Insurance and Reinsurance & Monoline Excess. The appointment of Stock underscores the company's focus on specialized insurance solutions for the transportation sector.