Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

The Going Is Getting Tougher And W.R. Berkley Is Still Going

Four months ago, I was not too keen on paying up for W.R. Berkley (NYSE:WRB) shares in the face of an increasingly difficult insurance environment, higher leverage, and a rich valuation. Since that late December piece, WRB shares are basically flat, while my preferred choice, RenRe (NYSE:RNR), is up around 10%. On a positive note, W.R. Berkley continues to execute at an above-average level, and that makes it a little harder to fret as much about the valuation.

Pressure Is There, But W.R. Berkley Is Navigating It

W.R. Berkley reported gross premium growth of 10.6% and slightly higher (10.8%) growth in net written premiums. Domestic insurance premiums were up 14% and international was up 10%,...

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