Forth quarter 2024 web earnings at W.R. Berkley Corp. jumped 45% in comparison with a yr in the past to about $576 million.
For the yr, the Greenwich, Connecticut-based business insurer mentioned it booked file earnings of about $1.8 billion in comparison with about $1.4 billion for 2023. Underwriting earnings for 2024 was additionally a file at about $1.1 billion, the corporate mentioned.
Web premiums written in W.R. Berkley’s insurance coverage phase had been about $2.6 billion in This fall 2024, up from about $2.4 billion in This fall 2023. The mixed ratio for the final quarter worsened 1.1 factors to 90.5 in comparison with the identical interval a yr in the past.
W.R. Berkley mentioned common charge will increase excluding employees’ compensation had been about 7.7% for This fall and seven.9% for the yr.
Disaster losses in insurance coverage for the quarter had been up – $35.6 million this yr in comparison with $20.4 million in This fall final yr. Losses for the insurer’s reinsurance and monoline extra enterprise had been almost $44 million in This fall in comparison with $11.6 million final yr throughout the identical time.
The insurer’s consolidated mixed ratio for the yr was 90.3 or 0.6 factors larger than 2023.
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Profit Loss
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