U.S. markets closed
  • S&P 500

    4,228.48
    -55.26 (-1.29%)
     
  • Dow 30

    33,706.74
    -292.30 (-0.86%)
     
  • Nasdaq

    12,705.21
    -260.13 (-2.01%)
     
  • Russell 2000

    1,957.35
    -43.38 (-2.17%)
     
  • Crude Oil

    89.91
    -0.59 (-0.65%)
     
  • Gold

    1,760.30
    -10.90 (-0.62%)
     
  • Silver

    18.97
    -0.50 (-2.56%)
     
  • EUR/USD

    1.0044
    -0.0048 (-0.47%)
     
  • 10-Yr Bond

    2.9890
    +0.1090 (+3.78%)
     
  • GBP/USD

    1.1823
    -0.0109 (-0.92%)
     
  • USD/JPY

    136.9300
    +1.0680 (+0.79%)
     
  • BTC-USD

    21,142.72
    -1,655.65 (-7.26%)
     
  • CMC Crypto 200

    504.88
    -36.72 (-6.78%)
     
  • FTSE 100

    7,550.37
    +8.52 (+0.11%)
     
  • Nikkei 225

    28,930.33
    -11.81 (-0.04%)
     

W. R. Berkley (WRB) Forms New Unit for Clients in California

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

W. R. Berkley Corporation WRB has formed Berkley Enterprise Risk Solutions to provide workers’ compensation insurance to large businesses in that has headquarters in California. Concurrently, Wayne Bryan has been named president, while Hale Johnston is the chief operating officer of the new unit. Workers' compensation contributed 15% to the Insurance segment’s net premiums written in 2021.

WRB has been establishing new units to cater to demands in emerging markets or risks or increasingly important sectors of the economy. The formation of Berkley Small Business Solutions is in tandem with this strategy. Establishing new units helps consolidate its geographical presence as well as grab market opportunities. With new units consistently thriving and established businesses no longer losing volume, overall growth is ensured. In sync with the strategy, the insurer started two new businesses in 2021.

WRB’s Insurance business has been performing well, reflected by an increase in premiums written in the past many years. This business growth has been achieved on the back of several new startup units in varied business lines (including healthcare, cyber security, energy and agriculture, and growing international markets, including the Asia-Pacific region, South America and Mexico), which have also provided diversification benefits.

Shares of this Zacks Rank #3 (Hold) property and casualty insurer gained 28.2%, better than the industry's decrease of 5.2%. Impressive inorganic and organic growth profile, rate increases, reserving discipline and solid balance sheet should continue to drive shares.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks in the property and casualty insurance industry are HCI Group, Inc. HCI, American Financial Group, Inc. AFG and Cincinnati Financial Corporation CINF. While HCI Group and American Financial sport a Zacks Rank #1 (Strong Buy), Cincinnati Financial carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for HCI Group’s 2022 and 2023 earnings has moved 33.3% and 40% north, respectively, in the past 60 days. In the past year, HCI Group’s stock has lost 33.2%.

The Zacks Consensus Estimate for HCI’s 2022 and 2023 earnings per share indicates a year-over-year increase of 280.9% and 75%, respectively.

American Financial’s earnings surpassed estimates in each of the last four quarters, the average beat being 41.72%. In the past year, American Financial has gained 10.8%.

The Zacks Consensus Estimate for AFG’s 2022 and 2023 earnings has moved 9.8% and 6.9% north, respectively, in the past 60 days.

The bottom line of Cincinnati Financial surpassed earnings estimates in each of the last four quarters, the average being 32.55%. In the past year, CINF stock has lost 0.1%.

The Zacks Consensus Estimate for Cincinnati Financial’s 2022 and 2023 earnings has moved 3.6% and 1.7% north, respectively, in the past 60 days.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
W.R. Berkley Corporation (WRB) : Free Stock Analysis Report
 
Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report
 
American Financial Group, Inc. (AFG) : Free Stock Analysis Report
 
HCI Group, Inc. (HCI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research