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W.R. Berkley Balance Sheet Statement

Assets, liabilities, and shareholders' equity

W.R. Berkley holds $44.3B in total assets. Shareholders' equity is $9.7B against $255.7M in total debt. Cash and equivalents total $2.3B. Based on the Q1 2026 filing.

Total Assets$44.3BTotal Stockholders Equity$9.7BCash And Equivalents$2.3B
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$25.1B
P/E Ratio13.40
ROE20.13%

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$984.8M$992.9M$1B$981.8M$987.7M$1B
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Accumulated Loss$625.8M—$488M$457.4M$415.9M$421.2M
Accumulated other comprehensive income (loss)-$934.3M-$762.1M-$572.4M-$506.2M-$451.1M-$601.3M
Common stock1.9B———1.9B—
Common Stock Par Value Per Share$0.20$0.20$0.20$0.20$0.20$0.20
Common Stock Shares Issued380.1M379.3M379.4M379.9M377.2M372.7M
Convertible Preferred Stock Issued Shares5M5M5M5M5M5M
Convertible Preferred Stock Outstanding Shares000000
Cumulative Gross Losses and Impairments$0$0$0$0$0$0
Cumulative Gross Unrealized Gains$1.6M$1.3M$1.1M$1.1M$872K$609K
Additional paid-in capital$984.8M$992.9M$1B$981.8M$987.7M$1B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$158.7M$158.7M$158.7M$158.7M$158.7M$158.7M
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$0$0$0$0$0$0
Treasury Stock, Value$4.1B$4.1B$4.1B$4.1B$4.3B$4.6B
Investments - Gross Unrealized Losses$12.5B—$8.8B$7.7B$7.6B$11.5B
Noncontrolling interests$12.3M$12.3M$10.3M$6.1M$11.1M$11.1M
Preferred stock$0$0$0$0$0$0
Preferred Stock Par Value Per Share$0.10$0.10$0.10$0.10$0.10$0.10
Retained earnings$12.3B$12.7B$12.8B$13.3B$13.3B$13.8B
Total liabilities and stockholders' equity$40.6B$41.3B$42.7B$43.7B$43.9B$44.3B
Total stockholders' equity$8.4B$8.9B$9.3B$9.8B$9.7B$9.7B
Treasury stock$4.1B$4.1B$4.1B$4.1B$4.3B$4.6B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Available-for-Sale and Held-to-Maturity Debt Securities$22.4B$23.6B$24.1B$24.9B$25B$25.5B
Allowance for credit losses$646K$333K$318K$272K$65K$306K
Deferred tax assets$220.2M-$135M—-$43.5M$141.5M-$77.3M
Equity method investments$1.5B$1.5B$1.5B$1.4B$1.4B$1.4B
Held-to-maturity securities$44.4M$44.9M$30.1M$30.3M$30.6M$30.9M
Total investment securities$22.4B$23.6B$24.1B$24.9B$25B$25.5B
Goodwill$184.3M$184.3M$184.3M$184.3M$184.3M$184.3M
Held-to-Maturity Debt Securities - Fair Value$46M$46.2M$31.2M$31.5M$31.5M$31.5M
Allowance for Credit Losses on Held-to-Maturity Securities$25K$20K$14K$11K$9K$0
Deferred policy acquisition costs$951.7M$978.2M$1B$1B$1B$1B
Equity securities$1.2B$1.1B$1.3B$1.4B$1.4B$1.5B
Mortgage loans$405.5M$419.9M$324.4M$326.9M$418.9M$441.2M
Reinsurance recoverables$3.6B$3.6B$3.6B$3.5B$3.5B$3.6B
Investments - Amortized Cost Basis$23B$24B$24.3B$25.1B$25.1B$25.8B
Long-term investments$27.9B$28.8B$29.5B$30.5B$30.7B$31.3B
Net Investment in Lease—$185.4M$210.9M$208.3M—$215.5M
Investments$27.9B$28.8B$29.5B$30.5B$30.7B$31.3B
Operating lease right-of-use assets—$185.4M$210.9M$208.3M—$215.5M
Other Assets$877.1M$884.3M$924.9M$885M$809.4M$837.2M
Real Estate Investment Property, Net$1.3B$1.3B$1.3B$1.3B$1.3B$1.3B
Net real estate investments$1.3B$1.3B$1.3B$1.3B$1.3B$1.3B
Operating Lease Income - 2026 (Lessor)—$27.1M$27.8M$30.7M—$29.9M
Operating Lease Income - 2027 (Lessor)—$37.9M$38.6M$41.3M—$40.3M
Operating Lease Income - 2028 (Lessor)—$32.9M$33.5M$36.4M—$34.5M
Operating Lease Income - 2029 (Lessor)—$27.1M$27.8M$30.7M—$29.9M
Operating Lease Income - Thereafter (Lessor)—$407.5M$411.1M$430.4M—$362.6M
Operating lease right-of-use assets—5.7%5.8%5.9%—6.0%
Operating Lease Right-of-Use Assets in Other Assets—$185.4M$210.9M$208.3M—$215.5M
Other Investments$1.1B$831.7M$1B$1.1B$1.2B$1.2B
Other non-current assets$877.1M$407.5M$411.1M$430.4M$809.4M$362.6M
Accumulated depreciation$38.7M$39.4M$39.8M$40.1M$41.9M$44.1M
Construction in progress$227.8M$227.9M$228.1M$228.3M$228.3M$228.4M
Property and equipment, net$478.5M$481.7M$490.1M$492.8M$596.2M$567.1M
Total assets$40.6B$41.3B$42.7B$43.7B$43.9B$44.3B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Available-for-Sale Debt Securities - Amortized Cost$23B$24B$24.3B$25.1B$25.1B$25.8B
Available-for-Sale Debt Securities - Unrealized Loss Position (>=12 Months)$7.1B—$5.7B$5.1B$4.7B$4B
AFS and Trading Securities - Unrealized Loss Position (>=12 Months)$7.1B—$5.7B$5.1B$4.7B$4B
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$5.5B—$3.1B$2.7B$3B$7.4B
Available-for-Sale Debt Securities - Unrealized Loss Position (<12 Months)$5.5B—$3.1B$2.7B$3B$7.4B
Available-for-Sale Debt Securities - Unrealized Loss Position$708.7M—$521.7M$500.7M$444.3M$512.9M
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Fair Value$7.1B—$5.7B$5.1B$4.7B$4B
AFS and Trading Securities - Unrealized Loss Position Fair Value$12.5B—$8.8B$7.7B$7.6B$11.5B
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$5.5B—$3.1B$2.7B$3B$7.4B
Allowance for Credit Losses - Receivable (Current)$1.1M$788K$369K$258K$161K$75K
Cash and cash equivalents$2B$1.7B$2B$2.4B$2.5B$2.3B
Cash, Cash Equivalents, and Marketable Securities$12.5B$23.6B$8.8B$7.7B$7.6B$11.5B
Premiums And Other Receivables Net$3.3B$3.3B$3.6B$3.5B$3.4B$3.5B
Accrued investment income$243.8M$236.5M$259.3M$248.9M$255.2M$246M
Trading assets$1.1B$832M$1B$1.1B$1.2B$1.2B
Income taxes receivable$39.4M———$2.7M—
Prepaid reinsurance premiums$823.2M$815.7M$872.5M$884.6M$881.8M$870.8M
Operating Lease Income - 2022 (Lessor)—$36.9M$37.4M$37.7M—$41.2M
Operating Lease Income - 2025 (Lessor)—$32.9M$33.5M$36.4M—$34.5M
Other Receivables$3.3B$3.3B$3.6B$3.5B$3.4B$3.5B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$23B$24B$24.3B$25.1B$25.1B$25.8B
Operating Lease Income - 2023 (Lessor)—$37.9M$38.6M$41.3M—$40.3M
Operating Lease Income - 2024 (Lessor)—$37.9M$38.6M$41.3M—$40.3M
Total$23B$24B$24.3B$25.1B$25.1B$25.8B
Available for sale investments$22.4B$23.6B$24.1B$24.9B$25B$25.5B
Available For Sale Securities Debt Securities Fair Value$22.4B$23.6B$24.1B$24.9B$25B$25.5B
Available For Sale Securities Debt Securities Gross Unrealized Losses$708.7M$598M$521.7M$500.7M$444.3M$512.9M
Available For Sale Securities Debt Securities Gross Unrealized Gain$96.4M$169.1M$245.4M$312.6M$321.7M$206.8M
Properties in operation$1.1B$1.1B$1.1B$1.1B$1.1B$1.1B
Common stock, par value (in dollars per share)$0.2$0.2$0.2$0.2$0.2$0.2
Common stock, shares authorized (in shares)$1.9B———$1.9B—
Common stock, shares issued (in shares)$380.1M$379.3M$379.4M$379.9M$377.2M$372.7M
Common Stock, Shares, Outstanding$380.1M$379.3M$379.4M$379.9M$377.2M$372.7M
Fixed maturity securities, allowance for credit loss$671K$353K$332K$283K$74K$306K
Debt Securities, Available-for-Sale, Allowance for Credit Loss$646K$333K$318K$272K$65K$306K
Debt Securities, Available-for-Sale and Held-to-Maturity, Fair Value$22.4B$23.6B$24.1B$24.9B$25B$25.5B
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss$625.8M—$488M$457.4M$415.9M$421.2M
Less than 12 months$5.5B—$3.1B$2.7B$3B$7.4B
12 months or more$7.1B—$5.7B$5.1B$4.7B$4B
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss$708.7M—$521.7M$500.7M$444.3M$512.9M
Debt Securities, Available-for-Sale, Unrealized Loss Position$12.5B—$8.8B$7.7B$7.6B$11.5B
Total investments in fixed maturity securities, Gross Unrealized Gains$97.9M$170.4M$246.6M$313.7M$322.6M$207.4M
Fixed maturity securities, amortized cost$23B$24.1B$24.4B$25.1B$25.2B$25.8B
Debt Securities, Available-for-sale and Held-to-maturity, Gross Unrealized Losses$708.7M$598M$521.7M$500.7M$444.3M$512.9M
Debt Securities, Available-for-sale and Held-to-maturity, Amortized Cost, Net—$24.1B$24.4B$25.1B—$25.8B
Debt Securities, Held-to-Maturity, Allowance for Credit Loss$25K$20K$14K$11K$9K$0
Deferred income taxes$65.2M$32M—$23.5M$39M$76.2M
Equity method investments (Note 11)$1.5B$1.5B$1.5B$1.4B$1.4B$1.4B
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss$0$0$0$0$0$0
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain$1.6M$1.3M$1.1M$1.1M$872K$609K
Tax receivable within other current assets$39.4M———$2.7M—
Lessee Operating Lease Liability Payments Due—$269.8M$298.9M$301M—$315.7M
Thereafter—$91M$113.9M$119.5M—$99.1M
Lessee Operating Lease Liability Undiscounted Excess Amount—$46.9M$49.7M$54.2M—$60M
Remainder of fiscal 2026—$27.2M$18M$9.1M—$28.5M
Liability for Unpaid Claims and Claims Adjustment Expense, Net$17.2B$17.7B$18.2B$18.6B$19B$19.3B
Fair Value, Mortgage-backed securities—$4.1B$4.3B$5B—$4.7B
Amortized Cost, Mortgaged-backed securities—$4.2B$4.4B$5.1B—$4.8B
Fair Value, Due after five years through ten years—$3.9B$4.1B$4B—$4B
Amortized Cost, Due after five years through ten years—$4B$4B$3.9B—$4B
Fair Value, Due after one year through five years—$9B$8.9B$8.5B—$7.8B
Amortized Cost, Due after one year through five years—$9.2B$9B$8.6B—$7.9B
Amortized Cost, Due after ten years—$4.9B$5.1B$5.8B—$7.2B
Fair Value, Due after ten years—$4.9B$5.1B$5.8B—$7.2B
Amortized Cost, Due in one year or less—$1.7B$1.7B$1.7B—$1.9B
Fair Value, Due in one year or less—$1.7B$1.7B$1.7B—$1.8B
Noncontrolling interests in subsidiaries$12.3M$12.3M$10.3M$6.1M$11.1M$11.1M
Unfunded commitments—$270M$272M$252M—$251M
Operating Lease Weighted Average Discount Rate Percent—$0.1$0.1$0.1—$0.1
Preferred Stock, Par or Stated Value Per Share$0.1$0.1$0.1$0.1$0.1$0.1
Preferred Stock, Shares Issued$5M$5M$5M$5M$5M$5M
Preferred Stock, Shares Outstanding$0$0$0$0$0$0
Insurance and reinsurance balances receivable, valuation allowance$39.9M$38.9M$39M$39.9M$42M$42.1M
Fails to deliver$60.3M$343.8M$138.9M$113.3M$11.7M$8.7M
Reinsurance recoverable on unpaid losses and loss expenses—$3.2B$3.3B$3.2B—$3.3B
Valuation allowance for uncollectible reinsurance$8.4M$7.1M$7M$6.6M$6.4M$5M
Treasury stock, shares (in shares)$413.5M$414.2M$414.1M$413.6M$416.4M$420.8M
Net of loss reserves discount—$14M$28M$42M—$17M
Remainder of Fiscal Year 2024—$36.4M$24.5M$12.5M—$40.8M
Sublease Income - Thereafter—$407.5M$411.1M$430.4M—$362.6M

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Liability for Claims and Claims Adjustment Expense$20.4B$20.9B$21.5B$21.8B$22.2B$22.6B
Trading liabilities$73.4M$52.4M$30.9M$34.5M$66.3M$33K
Income taxes payable$53.5M———$83.4M—
Reinsurance balances payable$668.7M$647.4M$644.6M$626.2M$615.8M$627.8M
Unearned premiums$6.4B$6.5B$6.8B$6.9B$6.7B$6.8B
Lease Liability Payments - 2020 (Remaining Three Months)—$36.4M$24.5M$12.5M—$40.8M
Lease Liability Payments - 2021—$36.9M$37.4M$37.7M—$41.2M
Operating Lease Liability Payments - 2024 (Lessee)—$35.3M$39.7M$41.8M—$46.8M
Operating Lease Liability Payments - 2025 (Lessee)—$29.8M$34.3M$36.5M—$37.9M
Lease Liability Payments - Due Year Two—$35.3M$39.7M$41.8M—$46.8M
Lease Liability Payments - Due Year Three—$33M$38.2M$40.5M—$42.7M
Lease Liability Payments - Due Year Four—$29.8M$34.3M$36.5M—$37.9M
Lease Liability Payments - Remainder of Fiscal Year—$44.3M$48.3M$50.2M—$48.5M
Operating lease liabilities, current$218.4M$222.9M$249.2M$246.8M$260.5M$255.7M
Operating Lease Liability Payments Due—$269.8M$298.9M$301M—$315.7M
Operating Lease Liability - Undiscounted Excess Amount—$46.9M$49.7M$54.2M—$60M
Payables to Broker Dealers and Clearing Organizations$60.3M$343.8M$138.9M$113.3M$11.7M$8.7M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred tax liabilities$65.2M$32M—$23.5M$39M$76.2M
Reserve for insurance claims$20.4B$20.9B$21.5B$21.8B$22.2B$22.6B
Junior Subordinated Notes$1B$1.4B$1.5B$1.7B$1.7B$1.6B
Operating Lease Liability Payments - 2027 (Lessee)—$33M$38.2M$40.5M—$42.7M
Operating Lease Liability Payments - 2028 (Lessee)—$29.8M$34.3M$36.5M—$37.9M
Senior notes and other debt$1.8B$1.8B$1.8B$1.8B$1.8B$1.8B
Operating Lease Liabilities (Total)$218.4M$222.9M$249.2M$246.8M$260.5M$255.7M
Other non-current liabilities$1.7B$1B$1B$1B$1B$1B
Total liabilities$32.2B$32.4B$33.4B$33.9B$34.2B$34.6B