WR Berkley

Q2 FY2026 EarningsQ2 FY26 performance was a beat-and-raise across key earnings metrics: revenue of $3.72B slightly exceeded the $3.20B consensus (+16.12%), and Diluted GAAP EPS of $1.15 beat the $1.13 mean estimate (+1.55%). Underwriting income improved due to a significant reduction in catastrophe losses YoY, while Net Investment Income rose 10% to $419M. Despite social inflation pressures in auto liability, the consolidated GAAP combined ratio improved to 90.0%, supporting a Strong Bullish outlook.