Holding: WRB

W.R. Berkley (WRB)

Posted: August, 1, 2019

We continue to believe that W.R. Berkley remains a well-run company with a long history of underwriting risk with a disciplined approach. However, we can no longer overlook the disconnect between fundamentals and valuation. Clearly, the market appreciates the characteristics that originally attracted us to the company over a decade ago. We reinvested the proceeds … Continue reading “W.R. Berkley (WRB)”

W. R. Berkley Corporation (WRB)

Posted: March, 9, 2017

Similar to our actions in Philip Morris, we took the recent post November election strength in W.R. Berkley’s stock to materially reduce our investment position. We would be hard-pressed to explicitly state the specific reason behind the sudden surge in WRB’s stock price, other than the market aggressively bid up the entire financial sector following … Continue reading “W. R. Berkley Corporation (WRB)”

W.R. Berkley Corp. (WRB)

Posted: December, 9, 2013

As investors with a long-term investment horizon, the property and casualty (P&C) insurance industry presents a compelling business model. The primary reason insurance stocks tend to do well over time is simple to understand: well-managed insurance companies do not pay for capital. The largest expense most companies face is the cost of capital. For example, … Continue reading “W.R. Berkley Corp. (WRB)”

W. R. Berkley Corp. (WRB)

Posted: February, 9, 2010

W. R. Berkley is an insurance holding company that is among the largest commercial lines writers in the U.S. and operates in five business segments: specialty insurance, regional property casualty insurance, alternative markets, reinsurance and international. Berkley’s primary source of revenues and earnings are its insurance operations and its investments. The profitability of the insurance … Continue reading “W. R. Berkley Corp. (WRB)”

W.R. Berkley Corp. (WRB)

Posted: December, 11, 2009

W.R. Berkley is an insurance holding company overseeing a number of subsidiaries, all of which primarily write commercial casualty insurance. The firm specializes in niche products that include various excess and surplus lines, workers compensation insurance, self-insurance consulting, reinsurance, and regional commercial lines for small and midsize businesses. We believe W.R. Berkley is well-positioned to … Continue reading “W.R. Berkley Corp. (WRB)”

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