WR Berkley Holds Steady in 3Q Despite Catastrophes
Hurricanes Harvey and Irma had a negative impact on WR Berkley’s third-quarter results, like its peers. But the company tends to shy away from catastrophe exposure to the extent possible, and the $119 million in pretax catastrophe losses was manageable at 7% of net earned premiums. Further, a fairly high level of investment gains acted as an offset, and the annualized ROE of 12.8% was a strong result in light of the losses the industry saw in the quarter. In our view, management’s patient and di...W. R. Berkley is an insurance holding company. The company operates in two segments of the property casualty insurance business: Insurance, which includes commercial insurance business, including excess and surplus lines, admitted lines and specialty personal lines throughout the United States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia; and Reinsurance, which provides reinsurance business on a facultative and treaty basis, primarily in the United States, the United Kingdom, Continental Europe, Australia, the Asia-Pacific region and South Africa.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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