W.R. Berkley Corp Reports 3Q Profit of $151.7M

W.R. Berkley Corp. (WRB) on Tuesday reported third-quarter profit of $151.7 million.

Source: W.R. Berkley Corp | Published on October 21, 2020

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The Greenwich, Connecticut-based company said it had net income of 81 cents per share. Earnings, adjusted for investment gains, were 65 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The insurance company posted revenue of $2.04 billion in the period. Its adjusted revenue was $2 billion.

W.R. Berkley shares have decreased roughly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $63.11, a fall of 11% in the last 12 months.