Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Investing now earns more than underwriting does
The share was 54.2% a year earlier, so profit now leans harder on the yield of the portfolio.
For investorsHow much of the profit depends on bond yields?
For foundersRunning many specialist units on one balance sheet
Operating cash flow has run near double net income in recent years, funding the portfolio that earns the investment income.
Net income fell 12.72% as the combined ratio held near flat, and the filing traces the drop to equity marks.
More expiring premiums were renewed, 81.6% against 79.6%, while renewal rates still rose, so higher prices did not drive customers away.
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Business Lens describes W. R. Berkley Corporation from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
