W. R. Berkley Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Premiums Earned	12,447	11,548	10,401	9,561	8,106
Investment Income	1,429	1,333	1,053	779.19	671.62
Net Gains on Investments	132.22	117.71	47.04	202.4	90.63
Total Other Revenues	699.63	639.4	642.37	623.49	587.19
Revenue	14,708	13,639	12,143	11,166	9,455
Revenue Growth (YoY)	7.84%	12.32%	8.74%	18.10%	16.75%
Insurance Benefits & Claims	7,772	7,132	6,372	5,862	4,954
Investment Expense	-1.55	-37.97	0.5	14.91	16.33
Other Operating Expenses	4,529	4,116	3,889	3,455	3,071
Operating Income	2,409	2,429	1,881	1,835	1,414
Interest Expense	-126.89	-126.91	-127.46	-130.37	-147.18
Total Non-Operating Income (Expense)	-126.89	-126.91	-127.46	-130.37	-147.18
Pretax Income	2,281	2,264	1,754	1,720	1,283
Provision for Income Taxes	495.76	509.92	370.56	334.73	251.89
Net Income	1,779	1,756	1,381	1,381	1,022
Minority Interest in Earnings	5.38	-1.54	2.49	3.89	8.53
Net Income to Common	1,779	1,756	1,381	1,381	1,022
Net Income Growth	1.33%	27.13%	0.02%	35.07%	92.68%
Shares Outstanding (Basic)	397	400	407	415	416
Shares Outstanding (Diluted)	400	403	410	419	420
Shares Change (YoY)	-0.83%	-1.64%	-2.21%	-0.10%	-1.20%
EPS (Basic)	4.48	4.39	3.40	3.33	2.46
EPS (Diluted)	4.45	4.36	3.37	3.29	2.44
EPS Growth	2.06%	29.38%	2.43%	34.84%	95.72%
Free Cash Flow	3,427	3,506	2,874	2,470	2,117
Free Cash Flow Growth	-2.25%	21.99%	16.36%	16.66%	34.14%
Free Cash Flow Per Share	8.57	8.70	7.01	5.89	5.05
Dividends Per Share	0.350	0.310	0.430	0.260	0.227
Dividend Growth	12.90%	-27.91%	65.39%	14.69%	9.68%
Operating Margin	16.38%	17.81%	15.49%	16.43%	14.95%
Profit Margin	12.13%	12.86%	11.40%	12.40%	10.90%
FCF Margin	23.30%	25.71%	23.67%	22.12%	22.39%
EBITDA	2,361	2,259	1,861	1,891	1,543
EBITDA Margin	16.05%	16.56%	15.32%	16.93%	16.32%
EBIT	2,409	2,429	1,881	1,835	1,414
EBIT Margin	16.38%	17.81%	15.49%	16.43%	14.95%
Effective Tax Rate	21.74%	22.52%	21.12%	19.46%	19.63%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.