W.R. Berkley Corp., a commercial insurer based in Greenwich, Connecticut, reported a strong boost in its third-quarter net income for 2025, reaching about $511 million. This marks nearly a 40% increase compared to roughly $365.6 million in the same quarter last year. The company also saw a significant turnaround in its investment results, earning nearly $79 million in net gains compared to a loss of about $8 million in Q3 of 2024.
The insurer’s combined ratio, which measures underwriting profitability, held steady at 90.9 for the quarter. Catastrophe losses during this period totaled $78.5 million. While the overall combined ratio remained flat, the insurance segment experienced a slight decline in performance, with its combined ratio increasing from 91.5 to 92.3. However, net premiums written in this part of the business grew to around $2.81 billion, up from $2.67 billion a year earlier.
On a brighter note, the company’s reinsurance segment improved notably, posting a combined ratio of 81.1, which is 5.6 points better than the previous year’s quarter. This helped offset the small dip in the insurance side.
Looking at the bigger picture, W.R. Berkley’s net income for the nine months ending September 30, 2025, climbed 12.7% to approximately $1.33 billion. This steady growth underscores the company’s resilience amid changing market conditions.
Overall, W.R. Berkley showed solid financial progress in the third quarter with better investment returns and stronger reinsurance results helping drive profit growth, even as some underwriting challenges persisted.