W R Berkley Corp (NYSE:WRB) stock rose 3.91% (As on April 22, 11:26:05 AM UTC-4, Source: Google Finance) after the company reported first quarter 2025 results that showed strong revenue growth, though earnings fell slightly short of estimates. Net investment income increased 12.6% YoY to $360.3 million, benefiting from higher interest rates and growth in invested assets. Net premiums written grew 10% to a record $3.13 billion in Q1 as market conditions remained favorable in many lines of business, particularly in the Insurance segment. The 90.9% combined ratio includes 3.7 points of catastrophe losses in a quarter with significant industry catastrophe losses, reflecting our approach to managing volatility as a component of risk adjusted return. Net investment income increased significantly compared to the first quarter of 2024, and sequentially from the fourth quarter of 2024, reflecting the impact of higher new money rates on the growing fixed-maturity portfolio and improvement in the investment fund income. The strength of the operating cash flow continues to drive growth in net investable assets, positioning the company well for further investment income growth.

Further, in the first quarter, return on equity and operating return on equity of 19.9% and 19.3%, respectively. Record net premiums written grew to $3.1 billion. The current accident year combined ratio before catastrophe losses of 3.7 loss ratio points was 87.2%. The reported combined ratio was 90.9%, including current accident year catastrophe losses of $111.1 million. Average rate increases excluding workers’ compensation were approximately 8.3%. Net investment income grew 12.6% to $360.3 million. Record net invested assets of $30.7 billion. Book value per share grew 7.1% in the quarter, before dividends and share repurchases

WRB in the first quarter of FY25 has reported the adjusted earnings per share of $1.01, missing the analysts’ estimates for the adjusted earnings per share of $1.05. The company had reported the adjusted revenue growth of 10 percent to $3.01 billion in the first quarter of FY25, missing the analysts’ estimates for revenue of $3.02 billion.

On the other hand, WRB has confirmed that Mitsui Sumitomo Insurance Co., Ltd. (“MSI”), a leading Japanese property and casualty insurance carrier, has entered into an arrangement with a company owned by members of the Berkley family and trusts for their benefit providing for MSI to purchase 15% of the Company’s outstanding common stock through open market purchases or private transactions with third parties. The Berkley Family will not be selling any of its Common Stock to MSI, nor will MSI be purchasing any shares from the Company as part of the arrangement.