BERKLEY W R CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures adjusted for later stock splits (split ratios inferred from EPS restated in later SEC filings).
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | – | – |
| Stockholders' equity | 9,701 | 100.0 |
| Total capitalization | 9,701 | 100.0 |
371,227,529 shares outstanding at 27 July 2026 (cover page of the 10-Q filed 31 July 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Not tagged in XBRL |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,875,000,000 |
| Common shares issued | 377,155,799 |
| Treasury shares | 416,366,010 |
| Par or stated value per share ($) | 0.2 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 7/27/26 | 371,227,529 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 1.85 | 41.6 |
| 2024 | 1.40 | 32.1 |
| 2023 | 1.29 | 38.3 |
| 2022 | 0.59 | 17.9 |
| 2021 | 0.89 | 36.6 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 6331, Fire, Marine & Casualty Insurance. Large accelerated filer. Principal executive office: 475 Steamboat Road, ., Greenwich, CT 06830. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Premiums earned | 12,447 | 11,548 | 10,401 |
| Net investment income | 1,429 | 1,333 | 1,053 |
| Total revenues | 14,708 | 13,639 | 12,143 |
| Benefits, losses and expenses | 7,772 | 7,132 | 6,372 |
| Income before income taxes | 2,281 | 2,264 | 1,754 |
| Income taxes | 496 | 510 | 371 |
| Net income | 1,779 | 1,756 | 1,381 |
| Earned per share, diluted ($) | 4.45 | 4.36 | 3.37 |
| Dividends per share ($) | 1.85 | 1.40 | 1.29 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Total investments | 30,687 | 27,889 |
| Cash and equivalents | 2,540 | 1,975 |
| Total assets | 44,071 | 40,567 |
| Policy liabilities and reserves | 22,208 | 20,368 |
| Total liabilities | 34,359 | 32,160 |
| Stockholders' equity | 9,701 | 8,395 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Total assets | Total liabilities | Total debt | Deposits | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 14,708 | – | 1,779 | 12.1 | 4.45 | 1.85 | 3,583 | 44,071 | 34,359 | – | – | 9,701 | 18.3 | – |
| 12/31/24 | 13,639 | – | 1,756 | 12.9 | 4.36 | 1.40 | 3,678 | 40,567 | 32,160 | – | – | 8,395 | 20.9 | – |
| 12/31/23 | 12,143 | – | 1,381 | 11.4 | 3.37 | 1.29 | 2,929 | 37,202 | 29,733 | – | – | 7,455 | 18.5 | – |
| 12/31/22 | 11,166 | – | 1,381 | 12.4 | 3.29 | 0.59 | 2,569 | 33,861 | 27,093 | – | – | 6,748 | 20.5 | – |
| 12/31/21 | 9,455 | – | 1,022 | 10.8 | 2.44 | 0.89 | 2,184 | 32,086 | 25,419 | – | – | 6,653 | 15.4 | – |
| 12/31/20 | 8,099 | – | 531 | 6.6 | 1.25 | 0.21 | 1,617 | 28,607 | 22,281 | – | – | 6,311 | 8.4 | – |
| 12/31/19 | 7,902 | – | 682 | 8.6 | 1.56 | 0.75 | 1,144 | 26,662 | 20,544 | – | – | 6,075 | 11.2 | – |
| 12/31/18 | 7,692 | – | 641 | 8.3 | 1.48 | 0.62 | 620 | 24,896 | 19,416 | – | – | 5,438 | 11.8 | – |
| 12/31/17 | 7,685 | – | 549 | 7.1 | 1.26 | 0.46 | 711 | 24,300 | 18,849 | – | – | 5,411 | 10.1 | – |
| 12/31/16 | 7,654 | – | 602 | 7.9 | 2.08 | – | 848 | 23,365 | 18,284 | – | – | 5,047 | 11.9 | – |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; capital expenditure and free cash flow are not shown for banks and insurers, where they are not meaningful; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
BERKLEY W R CORP
CIK 11544 · EIN 22-1867895
PRINCIPAL OFFICE:
475 Steamboat Road, ., Greenwich, CT 06830
Tel.: 2036293000
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
6331 · Fire, Marine & Casualty Insurance
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 27 February 2026
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/27/26) · 10-K FY2024 (filed 2/24/25) · 10-K FY2023 (filed 2/23/24) · 10-K FY2020 (filed 2/24/23) · 10-K FY2020 (filed 2/24/22) · 10-K FY2020 (filed 2/18/21) · 10-K FY2019 (filed 2/20/20) · 10-K FY2018 (filed 2/22/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.