WRB

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Second Quarter 2026 Results

Gross Premiums Written Increased to a Record $4.1 Billion; Record Quarterly Net Investment Income of $418.7 Million; Return on Equity of 18.6% and Operating Return on Equity of 20.5%

Greenwich, CT, July 20, 2026 - W. R. Berkley Corporation (NYSE: WRB) today reported its second quarter 2026 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Second QuarterSix Months

2026202520262025

Gross premiums written$4,144,000 $3,977,769 $7,929,766 $7,661,708

Net premiums written3,430,234 3,351,439 6,604,580 6,484,742

Net income to common stockholders452,261 401,288 967,478 818,860

Net income per diluted share1.15 1.00 2.46 2.05

Operating income (1)497,145 420,486 1,011,402 840,442

Operating income per diluted share (1)1.27 1.05 2.57 2.10

Return on equity (2)18.6 %19.1 %19.9 %19.5 %

Operating return on equity (1) (2)20.5 %20.0 %20.9 %20.0 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses and after-tax net foreign currency gains (losses).

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Second quarter highlights included:

•Return on equity of 18.6% and operating return on equity of 20.5%.

•Gross premiums written grew to a record $4.1 billion.

•Pre-tax underwriting income grew 21.8% to $317.5 million.

•Net investment income grew 10.4% to a record $418.7 million.

•Net income and operating income grew 12.7% and 18.2% to $452.3 million and $497.1 million, respectively.

•The current accident year combined ratio before catastrophe losses of 2.0 loss ratio points was 88.1% and reported combined ratio was 90.0%.

•Total capital returned to shareholders was $334.1 million, consisting of $185.5 million of special dividends, $111.5 million of share repurchases and $37.1 million of regular dividends.

Commenting on the Company's performance, W. Robert Berkley, Jr., chairman, chief executive officer, and president, said:

The Company delivered an excellent second quarter in 2026, generating an annualized 20.5% operating return on beginning-of-year stockholders’ equity, driven by outstanding underwriting performance and record net investment income.

Disciplined cycle management has long been and remains a hallmark of the Company’s success. We continue to see attractive opportunities across select liability lines. By focusing on business that offers appropriate risk-adjusted returns and favorable pricing, our Insurance segment grew gross and net premiums written by 5.4% and 3.7%, respectively, to record levels. This disciplined approach resulted in a strong overall 88.1% accident year combined ratio, excluding catastrophe losses.

Net investment income from fixed-maturity securities increased 11.9%, reflecting growth in invested assets and a higher portfolio yield. Credit quality remained excellent, with an average rating of AA-. In addition, current reinvestment rates continue to exceed our annual book yield, which combined with the 3.2-year duration of our fixed-maturity portfolio, provides both opportunity and flexibility.

We returned significant capital to shareholders through $223 million of regular and special dividends and $112 million of share repurchases.

Supported by a strong balance sheet and disciplined capital management, we remain well positioned to create long-term shareholder value. Our unwavering focus on risk-adjusted returns across both underwriting and investing has enabled us to deliver strong performance. We remain confident in our ability to generate excellent returns for shareholders.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on July 20, 2026, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writ

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports First Quarter 2026 Results

Return on Equity of 21.2%;

Net Income Grew 23.4% to $515.2 Million and Operating Income Grew 22.5% to a Record $514.3 Million

Greenwich, CT, April 21, 2026 - W. R. Berkley Corporation (NYSE: WRB) today reported its first quarter 2026 results.

Summary Financial Data

(Amounts in thousands, except per share data)

First Quarter

20262025

Gross premiums written$3,785,766 $3,683,939

Net premiums written3,174,345 3,133,302

Net income to common stockholders515,216 417,571

Net income per diluted share 1.31 1.04

Operating income (1)514,257 419,956

Operating income per diluted share (1)1.30 1.05

Return on equity (2)21.2 %19.9 %

Operating return on equity (1) (2)21.2 %20.0 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses and after-tax net foreign currency gains (losses). The Company’s 2025 financial information has been restated to exclude after-tax net foreign currency gains (losses) from operating income to conform with this presentation.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

First quarter highlights included:

•Return on equity of 21.2%.

•Net income and operating income grew to $515.2 million and a record $514.3 million, respectively.

•Net investment income grew 12.2% to a record of $404.3 million.

•The current accident year combined ratio before catastrophe losses of 2.4 loss ratio points was 88.3%, and the reported combined ratio was 90.7%.

•Average rate increases excluding workers' compensation were approximately 7.2%.

•Total capital returned to shareholders was $336.1 million, consisting of $302.4 million of share repurchases and $33.7 million of regular dividends.

Management commented:

The Company continued to deliver outstanding results in the first quarter of 2026 with an annualized 21.2% return on beginning‑of‑year stockholders’ equity, reflecting ongoing growth in underwriting and investment income. We returned total capital of $336 million in the quarter through regular dividends and share repurchases.

Our 88.3% accident year combined ratio excluding catastrophe losses demonstrated the stability of underwriting earnings generated through our diversified operating model. We are growing our business where pricing, terms, and conditions support attractive risk adjusted returns. Our teams continue to execute across a wide range of market conditions, with gross and net premiums written in the insurance segment increasing by 4.5% and 3.2%, respectively.

Net investment income grew by 12.2%, driven by a higher level of invested assets from continued strong operating cash flow, improved portfolio yields, and strong investment fund income, enhancing overall profitability. The credit quality of the fixed-maturity portfolio remains high with an average rating of AA- and a 3.1 year duration.

Our balance sheet remains a source of strength, and we prioritized effective capital management in the first quarter by repurchasing nearly 4.5 million shares. Our disciplined focus on long-term risk-adjusted return continues to drive superior performance across market cycles and create long term value for our shareholders. We remain confident in our ability to exceed our 15% target after‑tax return on equity for the foreseeable future.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on April 21, 2026, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Re

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Fourth Quarter and Full Year 2025 Results

Fourth Quarter Return on Equity of 21.4%;

Quarterly Pre-Tax Underwriting Income Grew 14.9% to a Record;

Record Annual Pre-Tax Underwriting Income of $1.2 Billion and Net Investment Income of $1.4 Billion

Greenwich, CT, January 26, 2026 - W. R. Berkley Corporation (NYSE: WRB) today reported its fourth quarter and full year 2025 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Fourth QuarterTwelve Months

2025202420252024

Gross premiums written$3,607,105 $3,497,284 $15,105,069 $14,211,090

Net premiums written2,999,655 2,936,750 12,711,327 11,972,096

Net income to common stockholders449,511 576,101 1,779,403 1,756,115

Net income per diluted share1.13 1.44 4.45 4.36

Operating income (1)449,574 410,437 1,729,408 1,626,497

Operating income per diluted share (1)1.13 1.02 4.33 4.03

Return on equity (2)21.4 %30.9 %21.2 %23.6 %

Operating return on equity (1) (2)21.4 %22.0 %20.6 %21.8 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses and after-tax net foreign currency gains (losses). Commencing with the second quarter of 2025, the Company’s 2024 financial information has been restated to exclude after-tax net foreign currency gains (losses) from operating income to conform with this presentation.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Fourth quarter highlights included:

•Return on equity of 21.4%.

•Book value per share grew 5.2%, before dividends and share repurchases.

•Record pre-tax underwriting income grew 14.9% to $338 million.

•Operating income grew 9.5% to a record of $450 million.

•The current accident year combined ratio before catastrophe losses of 1.5 loss ratio points was 87.9%, and the reported combined ratio was 89.4%.

•Average rate increases excluding workers' compensation were approximately 7.1%.

•Total capital returned to shareholders was $608.3 million, consisting of $377.9 million of special dividends, $196.4 million of share repurchases and $34.0 million of regular dividends.

Full year highlights included:

•Return on equity of 21.2%.

•Book value per share grew 26.7%, before dividends and share repurchases.

•Record gross and net premiums written grew to $15.1 billion and $12.7 billion, respectively.

•Record annual pre-tax underwriting income grew to $1.2 billion.

•Net investment income grew 7.2% to a record of $1.4 billion.

•Net income and operating income grew to records of $1.8 billion and $1.7 billion, respectively.

•Average rate increases excluding workers' compensation were approximately 7.6%.

•Total capital returned to shareholders was $970.5 million, consisting of $567.6 million of special dividends, $270.2 million of share repurchases and $132.7 million of regular dividends.

Management commented:

The fourth quarter marked another period of strong results, with a 21.4% return on beginning‑of‑year stockholders’ equity that culminated in a 21.2% return for the full year. The Company's performance reflected record underwriting income and net income for the fifth consecutive year, and record investment income for the fourth. Book value per share rose 5.2% in the quarter and 26.7% for the year, before returning $608 million and $971 million to stockholders, respectively, through dividends and share repurchases.

Full‑year net premiums written increased to a record $12.7 billion. Our focus on profitable growth by maintaining rate adequacy and underwriting discipline resulted in strong combined ratios of 89.4% for the quarter and 90.7% for the year. We expect that the margins available to us will continue to be excellent, with select areas of opportunity persisting in 2026.

Fixed‑maturity investment income grew 13.3% in the quarter. Investment income is positioned for continued growth with new-money rates above book yield and robust operating cash flows.

In the current environment, effective capital management is an important part of our responsibility. In 2025, we repurchased over four million shares, including 2.9 million in the fourth quarter, and paid the largest special dividends in our history. Our priority remains long-term value creation, and we will continue to return excess capital to shareholders in a disciplined and thoughtful manner as strong earnings rapidly generate additional excess capital.

Our focus on long-term risk-adjusted return continues to drive

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Third Quarter 2025 Results

Net Income Increased 39.8% to $511.0 Million;

Return on Equity of 24.3% and Operating Return on Equity of 21.0%

Greenwich, CT, October 20, 2025 - W. R. Berkley Corporation (NYSE: WRB) today reported its third quarter 2025 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Third QuarterNine Months

2025202420252024

Gross premiums written$3,836,256 $3,633,278 $11,497,964 $10,713,806

Net premiums written3,226,930 3,057,276 9,711,672 9,035,346

Net income to common stockholders511,032 365,634 1,329,892 1,180,014

Net income per diluted share1.28 0.91 3.32 2.92

Operating income (1)440,198 393,003 1,280,364 1,216,061

Operating income per diluted share (1)1.10 0.98 3.20 3.01

Return on equity (2)24.3 %19.6 %21.1 %21.1 %

Operating return on equity (1) (2)21.0 %21.1 %20.3 %21.7 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses and after-tax net foreign currency gains (losses). Commencing with the second quarter of 2025, the Company’s 2024 financial information has been restated to exclude after-tax net foreign currency gains (losses) from operating income to conform with this presentation.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Third quarter highlights included:

•Return on equity of 24.3% and operating return on equity of 21.0%.

•Net income grew 39.8% to $511.0 million.

•Average rate increases excluding workers' compensation were approximately 7.6%.

•Gross and net premiums written grew to $3.8 billion and $3.2 billion, respectively.

•The current accident year combined ratio before catastrophe losses of 2.5 loss ratio points was 88.4%.

•The reported combined ratio was 90.9%, including current accident year catastrophe losses of $78.5 million.

•Net investment income of $351.2 million driven by core portfolio increase of 9.4%.

•Book value per share grew 5.8%, before dividends and share repurchases.

•Record common stockholders' equity of $9.8 billion.

Management commented:

The Company delivered strong third quarter results highlighted by a 24.3% return on beginning of year shareholders’ equity, reflecting continued strength in both underwriting and investment income. Book value per share increased 5.8%, before dividends and share repurchases.

Our decentralized structure and focus on specialty niche markets continue to differentiate us, enabling growth while maintaining rate adequacy and underwriting discipline. This approach resulted in another strong quarterly combined ratio of 90.9%.

Fixed-maturity investment income increased 9.8% over the corresponding period of 2024. The Company’s new money rate continues to exceed the book yield of our fixed-maturity securities. The strength of our operating cash flow continues to grow our investable assets and will continue to make a positive contribution to investment income.

Our disciplined underwriting, anchored in our focus on long-term risk-adjusted return, continues to drive superior performance across market cycles. We believe the Company remains well-positioned to create exceptional value for our shareholders throughout the remainder of 2025 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on October 20, 2025, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Second Quarter 2025 Results

Net Premiums Written Increased to a Record $3.4 Billion;

Return on Equity of 19.1% and Operating Return on Equity of 20.0%

Greenwich, CT, July 21, 2025 - W. R. Berkley Corporation (NYSE: WRB) today reported its second quarter 2025 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Second QuarterSix Months

2025202420252024

Gross premiums written$3,977,769 $3,717,772 $7,661,708 $7,080,528

Net premiums written3,351,439 3,126,779 6,484,742 5,978,070

Net income to common stockholders401,288 371,909 818,860 814,380

Net income per diluted share1.00 0.92 2.05 2.01

Operating income (1)420,486 410,171 840,442 823,058

Operating income per diluted share (1)1.05 1.02 2.10 2.03

Return on equity (2)19.1 %20.0 %19.5 %21.8 %

Operating return on equity (1) (2)20.0 %22.0 %20.0 %22.1 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses and after-tax net foreign currency gains (losses). Commencing with this quarter, the Company’s 2024 financial information has been restated to exclude after-tax net foreign currency gains (losses) from operating income to conform with this presentation.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Second quarter highlights included:

•Return on equity of 19.1% and operating return on equity of 20.0%.

•Record net premiums written grew to $3.4 billion.

•The current accident year combined ratio before catastrophe losses of 3.2 loss ratio points was 88.4%.

•The reported combined ratio was 91.6%, including current accident year catastrophe losses of $99.2 million.

•Average rate increases excluding workers' compensation were approximately 7.6%.

•Record net investment income of $379.3 million.

•Book value per share grew 6.8% in the quarter, before dividends.

•Total capital returned to shareholders was $223.8 million, consisting of $189.7 million of special dividends and $34.1 million of ordinary dividends.

•Record common stockholders' equity of $9.3 billion.

The Company commented:

Our strong performance continued into the second quarter of 2025, with an annualized return on beginning-of-year common stockholders' equity of 19.1%. Net income grew year-over-year, driven by higher underwriting gains and improved investment income, notwithstanding above-average industry catastrophe losses during the quarter. Book value per share grew 6.8%, before $223.8 million of capital returned to shareholders through special and ordinary dividends.

Our focus on business with the highest margin potential resulted in record quarterly net premiums written of $3.4 billion. Net investment income rose both year-over-year and sequentially to a quarterly record, fueled by higher yields on our expanding domestic fixed-maturity portfolio. The strength of our operating cash flow continues to drive growth in net investable assets, and our current new money rates remain comfortably above our average book yield, positioning us well for further investment income growth.

We continue to carefully manage the underwriting cycle in each market served by our specialized businesses. This disciplined approach has supported superior long-term, risk-adjusted returns and consistently lower volatility over decades. We remain confident in our ability to deliver exceptional value to shareholders throughout the remainder of 2025 and well into the future.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on July 21, 2025, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corpor

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports First Quarter Results

Net Premiums Written Increased to a Record $3.1 Billion;

Return on Equity of 19.9% and Operating Return on Equity of 19.3%

Greenwich, CT, April 21, 2025 - W. R. Berkley Corporation (NYSE: WRB) today reported its first quarter 2025 results.

Summary Financial Data

(Amounts in thousands, except per share data)

First Quarter

20252024

Gross premiums written$3,683,939 $3,362,755

Net premiums written3,133,302 2,851,291

Net income to common stockholders417,571 442,471

Net income per diluted share (1)1.04 1.09

Operating income (2)404,744 423,324

Operating income per diluted share (1)1.01 1.04

Return on equity (3)19.9 %23.7 %

Operating return on equity (2) (3)19.3 %22.7 %

(1)The 2024 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024.

(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

First quarter highlights included:

•Return on equity and operating return on equity of 19.9% and 19.3%, respectively.

•Record net premiums written grew to $3.1 billion.

•The current accident year combined ratio before catastrophe losses of 3.7 loss ratio points was 87.2%.

•The reported combined ratio was 90.9%, including current accident year catastrophe losses of $111.1 million.

•Average rate increases excluding workers' compensation were approximately 8.3%.

•Net investment income grew 12.6% to $360.3 million.

•Record net invested assets of $30.7 billion.

•Book value per share grew 7.1% in the quarter, before dividends and share repurchases.

The Company commented:

We achieved strong results in the first quarter of 2025 with a 19.9% annualized return on beginning-of-year common stockholders' equity, despite significant first-quarter industry-wide catastrophe losses. These results once again demonstrate our ability to successfully manage underwriting volatility.

Net premiums written grew 10% as market conditions remained favorable in many lines of business, particularly in our Insurance segment. Our 90.9% combined ratio includes 3.7 points of catastrophe losses in a quarter with significant industry catastrophe losses, reflecting our approach to managing volatility as a component of risk-adjusted return.

Net investment income increased significantly compared to the first quarter of 2024, and sequentially from the fourth quarter of 2024, reflecting the impact of higher new money rates on our growing fixed-maturity portfolio and improvement in our investment fund income. The strength of our operating cash flow continues to drive growth in net investable assets, positioning us well for further investment income growth.

Our ability to expand or contract each of our distinct businesses based on specific market conditions remains a significant competitive advantage. This agility enables us to execute our strategy to grow profitably and optimize risk-adjusted returns, while successfully navigating risks and embracing opportunities. We are confident that we will continue to deliver outstanding value to shareholders over the remainder of 2025 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on April 21, 2025, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements rela

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Fourth Quarter and Full Year 2024 Results

Fourth Quarter Return on Equity of 30.9% and Operating Return on Equity of 24.3%;

Quarterly Net Income and Record Operating Income Increased 45.0% and 15.5% to $576 Million and $453 Million;

Record Annual Pre-Tax Underwriting Income of $1.1 Billion and Net Income of $1.8 Billion

Greenwich, CT, January 27, 2025 - W. R. Berkley Corporation (NYSE: WRB) today reported its fourth quarter and full year 2024 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Fourth QuarterTwelve Months

2024202320242023

Gross premiums written$3,497,284 $3,232,710 $14,211,090 $12,972,006

Net premiums written2,936,750 2,719,668 11,972,096 10,954,467

Net income to common stockholders576,101 397,340 1,756,115 1,381,359

Net income per diluted share (1)1.44 0.98 4.36 3.37

Operating income (2)452,591 391,753 1,667,612 1,344,567

Operating income per diluted share (1)1.13 0.96 4.14 3.28

Return on equity (3)30.9 %23.6 %23.6 %20.5 %

Operating return on equity (2) (3)24.3 %23.2 %22.4 %19.9 %

(1)The 2023 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on July 10, 2024.

(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Fourth quarter highlights included:

•Return on equity and operating return on equity of 30.9% and 24.3%, respectively.

•Net income increased 45.0% to $576 million and operating income increased 15.5% to a record $453 million.

•The current accident year combined ratio before catastrophe losses of 2.6 loss ratio points was 87.7%, and the reported combined ratio was 90.2%.

•Average rate increases excluding workers' compensation were approximately 7.7%.

•Operating cash flow increased 16.0% to $810.0 million.

•Total capital returned to shareholders was $287.8 million, consisting of $190.0 million of special dividends, $67.4 million of share repurchases and $30.4 million of regular dividends.

Full year highlights included:

•Return on equity and operating return on equity of 23.6% and 22.4%, respectively.

•Book value per share grew 23.5%, before dividends and share repurchases.

•Record annual pre-tax underwriting income of $1.1 billion and net income of $1.8 billion.

•Gross and net premiums written grew 9.6% and 9.3% to records of $14.2 billion and $12.0 billion, respectively.

•Average rate increases excluding workers' compensation were approximately 7.9%.

•Net investment income grew 26.6% to a record of $1.3 billion.

•Operating cash flow increased 25.6% to a record of $3.7 billion.

•Total capital returned to shareholders was $835.6 million, consisting of $412.3 million of special dividends, $303.7 million of share repurchases and $119.6 million of regular dividends.

The Company commented:

The Company once again set new financial records in 2024. Full year results were highlighted by record net income, with outstanding underwriting performance and net investment income, culminating in a 23.6% return on beginning of year equity. Growth in book value per share was 23.5%, before $836 million of capital returned to shareholders through special and ordinary dividends and share repurchases.

In the fourth quarter, we delivered an outstanding 30.9% annualized return on beginning of year equity. Our thoughtful growth strategy remains focused on achieving superior long-term risk-adjusted returns. Our decentralized structure remains a key competitive advantage, enabling us to effectively manage risks and capitalize on opportunities in a market where business lines increasingly operate independently. Our calendar year combined ratio of 90.2% once again demonstrated our focus on managing volatility.

We positioned our investment portfolio well for changes in the environment, which resulted in robust growth in net investment income from our fixed-maturity portfolio and a strong contribution to total return from net unrealized gains on our equity portfolio. Current reinvestment rates continue to exceed our annual book yield, and our invested assets have increased from record operating cash flow, positioning us for further investment income growth in 2025.

The Company excelled by most business measures in 2024, and we anticipate ongoing success for our shareholders in 2025. The current property and casualty (re)insurance and in

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Third Quarter Results

Return on Equity of 19.6% and Operating Return on Equity of 20.0%;

Record Third Quarter Net Income Increased to $366 Million

Greenwich, CT, October 21, 2024 - W. R. Berkley Corporation (NYSE: WRB) today reported its third quarter 2024 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Third QuarterNine Months

2024202320242023

Gross premiums written$3,633,278 $3,353,205 $10,713,806 $9,739,296

Net premiums written3,057,276 2,848,459 9,035,346 8,234,799

Net income to common stockholders365,634 333,586 1,180,014 984,020

Net income per diluted share (1)0.91 0.82 2.92 2.39

Operating income (2)373,677 366,608 1,215,022 952,868

Operating income per diluted share (1)0.93 0.90 3.01 2.32

Return on equity (3)19.6 %19.8 %21.1 %19.4 %

Operating return on equity (2) (3)20.0 %21.7 %21.7 %18.8 %

(1)The 2024 per share amounts have been adjusted to reflect the 3-for-2 common stock split effected on July 10, 2024, and the 2023 per share amounts were restated for comparative purposes to reflect such common stock split.

(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Third quarter highlights included:

•Return on equity and operating return on equity of 19.6% and 20.0%, respectively.

•Net investment income grew 19.5% to $323.8 million compared to the prior year.

•The current accident year combined ratio before catastrophe losses of 3.3 loss ratio points was 87.6%, and the reported combined ratio was 90.9%.

•Average rate increases excluding workers' compensation were approximately 8.4%.

•Book value per share grew 10.0%, before dividends and share repurchases.

•Total capital returned to shareholders was $138.3 million, consisting of $95.3 million of special dividends, $30.5 million of regular dividends and $12.5 million of share repurchases.

•Record operating cash flow increased 15.2% to $1.2 billion.

The Company commented:

The Company reported record third quarter net income in 2024. Continued strong underwriting margins and increasing investment income drove our 19.6% annualized return on beginning of year common stockholders’ equity.

We continue to grow thoughtfully by focusing on business we expect to achieve or exceed our targeted risk-adjusted return, being ever mindful of rate adequacy, loss trend, and exposure management. Our 90.9% calendar year combined ratio again demonstrated below average volatility, with a modest 3.3 loss ratio points of catastrophe losses, despite the frequency of severe market-wide events.

Net investment income increased 19.5% over the prior year third quarter, driven by an increase in fixed-maturity income. We anticipate that the Company’s new money rate will remain above the current yield of our U.S. fixed-maturity securities, notwithstanding the recent and expected decreases in short-term rates. Coupled with increases in invested assets from continuing record cash flow, we remain well-positioned for further investment income growth.

Our success in navigating a wide variety of underwriting and investment environments has resulted in best-in-class returns on equity and below-average volatility that has generated significant shareholder value over many years. Fueled by knowledge and expertise, our decentralized structure allows us to take a flexible, proactive, and innovative approach to whatever risks and opportunities the market may present. We expect to continue to deliver outstanding risk-adjusted returns to our shareholders for the remainder of 2024 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on October 21, 2024, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company t

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Second Quarter Results

Return on Equity of 20.0% and Operating Return on Equity of 22.4%; Record Quarterly Net Investment Income of $372 Million

Greenwich, CT, July 22 , 2024 - W. R. Berkley Corporation (NYSE: WRB) today reported its second quarter 2024 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Second QuarterSix Months

2024202320242023

Gross premiums written$3,717,772 $3,336,773 $7,080,528 $6,386,091

Net premiums written3,126,779 2,811,515 5,978,070 5,386,339

Net income to common stockholders371,909 356,308 814,380 650,434

Net income per diluted share (1)0.92 0.87 2.01 1.58

Operating income (2)418,114 310,862 841,344 586,531

Operating income per diluted share (1)1.04 0.76 2.08 1.42

Return on equity (3)20.0 %21.1 %21.8 %19.3 %

Operating return on equity (2) (3)22.4 %18.4 %22.6 %17.4 %

(1)The 2024 per share amounts have been adjusted to reflect the 3-for-2 common stock split effected on July 10, 2024, and the 2023 per share amounts were restated for comparative purposes to reflect such common stock split.

(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Second quarter highlights included:

•Return on equity and operating return on equity of 20.0% and 22.4%, respectively.

•Net investment income grew 51.8% to a record $372.1 million.

•Record net premiums written grew 11.2% to $3.1 billion.

•The current accident year combined ratio before catastrophe losses of 3.2 loss ratio points was 88.0%, and the reported combined ratio was 91.1%.

•Average rate increase excluding workers' compensation were approximately 8.3%.

•Book value per share grew 4.7%, before dividends and share repurchases.

•Total capital returned to shareholders was $381.3 million, consisting of $223.8 million of share repurchases, $127.0 million of special dividends and $30.5 million of regular dividends.

•Operating cash flow increased 24.4% to $881.3 million.

The Company commented:

Continued strong underwriting and investment income drove our 20.0% annualized return on beginning of year common stockholders’ equity in the second quarter.

Market conditions remained favorable in many areas of our business, fueling growth in net premiums written of 11.2%. Our combined ratio was 91.1% inclusive of 3.2 loss ratio points of catastrophe losses.

Net investment income increased 51.8% over the prior year second quarter, driven by an increase in fixed-maturity income from a growing portfolio with higher yields. We anticipate that the Company’s new money rate will remain higher than the current yield of our fixed-maturity securities for the foreseeable future. Coupled with our increasing investment portfolio from continuing record cash flow, we remain well-positioned for further investment income growth.

Our decentralized structure and consistent focus on long-term risk-adjusted return allow us to effectively operate in a rapidly-changing environment. We continue to believe that expertise matters in both underwriting and investing. The Company expects to continue to deliver outstanding returns to our shareholders for the remainder of 2024 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on July 22, 2024, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, inc

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports First Quarter Results

Net Income Increased 50.4% to $442 Million and Operating Income Increased 53.4% to a Record $423 Million; Return on Equity of 23.7% and Operating Return on Equity of 22.7%

Greenwich, CT, April 23, 2024 - W. R. Berkley Corporation (NYSE: WRB) today reported its first quarter 2024 results.

Summary Financial Data

(Amounts in thousands, except per share data)

First Quarter

20242023

Gross premiums written$3,362,755 $3,049,317

Net premiums written2,851,291 2,574,824

Net income to common stockholders442,471 294,126

Net income per diluted share1.64 1.06

Operating income (1)423,324 275,966

Operating income per diluted share1.56 1.00

Return on equity (2)23.7 %17.4 %

Operating return on equity (1) (2)22.7 %16.4 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains and related expenses.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

First quarter highlights included:

•Return on equity and operating return on equity of 23.7% and 22.7%, respectively.

•Net investment income grew 43.2% to a record $319.8 million.

•Record net premiums written grew 10.7% to $2.9 billion.

•The current accident year combined ratio before catastrophe losses of 1.1 loss ratio points was 87.7%.

•The reported combined ratio was 88.8%, including current accident year catastrophe losses of $30.5 million.

•Pre-tax underwriting income grew 31.8% to $309.0 million.

•Average rate increases excluding workers' compensation were approximately 7.8%.

•Operating cash flow increased 67.6% to $746.2 million.

The Company commented:

The Company continued to have very strong results in the first quarter 2024, with a 23.7% annualized return on beginning of year common stockholders’ equity.

Growth in first quarter net premiums written accelerated year over year to 10.7%, as market conditions remained favorable in many areas of our business. Our combined ratio was 88.8% even as we continued our prudent view of loss trends. Our flexibility to expand or contract each of our businesses according to specific market conditions continues to be a competitive advantage.

Net investment income increased 43.2% over the prior year first quarter, despite challenges during this quarter with our investment funds. Our total-return investment strategy seeks to maximize risk-adjusted returns over the long-term across all market cycles and economic environments. New money rates remain higher than our book yield, which along with extremely strong operating cash flow, positions us well for future investment income growth.

Our results demonstrate how our persistent focus on risk-adjusted return in all aspects of our business allows us to successfully navigate risks and embrace opportunities. We remain confident that we will continue to deliver outstanding value to shareholders in 2024 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on April 23, 2024, at 9:00 a.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2024 and beyond, are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Fourth Quarter and Full Year 2023 Results

Fourth Quarter Return on Equity of 23.6% and Operating Return on Equity of 23.2%;

Record Quarterly and Annual Pre-Tax Underwriting Income and Net Investment Income

Greenwich, CT, January 24, 2024 - W. R. Berkley Corporation (NYSE: WRB) today reported its fourth quarter and full year 2023 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Fourth QuarterTwelve Months

2023202220232022

Gross premiums written$3,232,710 $2,914,877 $12,972,006 $11,909,052

Net premiums written2,719,668 2,427,907 10,954,467 10,004,070

Net income to common stockholders397,340 382,223 1,381,359 1,381,062

Net income per diluted share1.47 1.37 5.05 4.94

Operating income (1)391,753 323,329 1,344,567 1,223,934

Operating income per diluted share1.45 1.16 4.92 4.38

Return on equity (2)23.6 %23.0 %20.5 %20.8 %

Operating return on equity (1) (2)23.2 %19.4 %19.9 %18.4 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains and related expenses.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Fourth quarter highlights included:

•Return on equity of 23.6%.

•Book value per share grew 11.6%, before dividends and share repurchases.

•Record net investment income of $313.3 million driven by 52.9% increase in the core portfolio.

•Net premiums written growth increased to 12.0%.

•The current accident year combined ratio before catastrophe losses of 1.2 loss ratio points was 87.2%.

•The reported combined ratio was 88.4%, including current accident year catastrophe losses of $32.0 million.

•Record pre-tax underwriting income grew 8.2% to $315.9 million.

•Average rate increases excluding workers' compensation were approximately 8.0%.

•Total capital returned to shareholders was $263.8 million, consisting of $106.7 million of share repurchases, $128.8 million of special dividends and $28.3 million of regular dividends.

Full year highlights included:

•Return on equity of 20.5%.

•Book value per share grew 25.5%, before dividends and share repurchases.

•Record annual pre-tax underwriting income of $1.1 billion.

•Gross and net premiums written grew 8.9% and 9.5% to records of $13.0 billion and $11.0 billion, respectively.

•Average rate increases excluding workers' compensation were approximately 8.1%.

•Net investment income grew 35.1% to a record $1.1 billion.

•Operating cash flow increased 14.0% to a record of $2.9 billion.

•Total capital returned to shareholders was $1.0 billion, consisting of $537.2 million of share repurchases, $390.0 million of special dividends and $111.4 million of regular dividends.

The Company commented:

Our Company completed another record-setting year in 2023, achieving a 23.6% annualized return on beginning equity in the fourth quarter. Our quarter and full year results were characterized by growth in net premiums written, along with record underwriting performance and net investment income. Book value per share grew 11.6% during the fourth quarter, before the return of $264 million of capital to shareholders through special and ordinary dividends and share repurchases.

Growth in net premiums written accelerated to 12% in the fourth quarter, as we deployed capital in areas of the business that we expect to achieve or exceed our targeted risk-adjusted return on equity. In a market where lines of business increasingly move independently from each other, our decentralized structure provides us with a competitive advantage that allows us to better navigate risks and embrace opportunities.

Net investment income from our fixed-maturity portfolio increased more than 50% during the quarter and 60% for the year as our portfolio grew and we (re)invested at higher interest rates. The current rates at which we can reinvest remains higher than our annual book yield, and record operating cash flow positions us well for future investment income growth.

Our Company performed exceptionally well during 2023, and we anticipate 2024 will continue to be rewarding for our shareholders. We view the current property and casualty insurance and investment environments as favorable to our business model. We are confident that we will continue to deliver superior long-term risk-adjusted returns and increase value to shareholders in 2024 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analyst

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RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Third Quarter Results

Net Income Increased by 45.7% to $334 Million;

Operating Return on Equity of 21.7% and Return on Equity of 19.8%;

Record Quarterly Net Investment Income of $271 Million Driven by 59.3% Increase in the Core Portfolio

Greenwich, CT, October 23, 2023 - W. R. Berkley Corporation (NYSE: WRB) today reported its third quarter 2023 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Third QuarterNine Months

2023202220232022

Gross premiums written$3,353,205 $3,081,938 $9,739,296 $8,994,175

Net premiums written2,848,459 2,577,274 8,234,799 7,576,163

Net income to common stockholders333,586 228,879 984,020 998,839

Net income per diluted share1.23 0.82 3.59 3.57

Operating income (1)366,608 281,833 952,868 901,436

Operating income per diluted share1.35 1.01 3.48 3.22

Return on equity (2)19.8 %13.8 %19.4 %20.0 %

Operating return on equity (1) (2)21.7 %16.9 %18.8 %18.1 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Third quarter highlights included:

•Operating return on equity and return on equity of 21.7% and 19.8%, respectively.

•Record net investment income of $270.9 million driven by 59.3% increase in the core portfolio.

•The current accident year combined ratio before catastrophe losses of 2.3 loss ratio points was 87.9%.

•The reported combined ratio was 90.2%, including current accident year catastrophe losses of $61.5 million.

•Record net premiums written grew 10.5% to $2.8 billion.

•Underwriting income and net income grew 34.7% and 45.7% to $258.7 million and $333.6 million, respectively.

•Average rate increases excluding workers' compensation were approximately 8.5%.

•Total capital returned to shareholders was $160.3 million, consisting of $129.0 million of special dividends, $28.4 million of regular dividends, and $2.9 million of share repurchases.

The Company commented:

Strong underwriting profits and record quarterly net investment income drove the Company’s exceptional annualized operating return on equity of 21.7% in the third quarter of 2023.

Net premiums written grew 10.5% in the quarter. Market segments, territories and lines of business continue to move independently of one another. Accordingly, we are expanding in areas that are likely to provide attractive risk-adjusted profitability. Overall rate increases excluding workers’ compensation remained strong at 8.5%.

The higher interest rate environment contributed to a meaningful year-over-year increase in investment income. We anticipate this trend will continue as we benefit from record operating cash flows and reinvest at higher interest rates. Simultaneously, the short duration and high quality of our fixed-maturity portfolio have enabled us to grow book value even as interest rates have risen.

Our focus on total risk-adjusted return, decentralized operations, and entrepreneurial culture, coupled with effective capital management, has enabled us to continue to create value for our shareholders. We remain well positioned for continued success and very optimistic about the remainder of 2023 and the foreseeable future.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on October 23, 2023, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, includi

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RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Second Quarter Results

Return on Equity of 21.1%;

Quarterly Net Income Doubles to $356 Million

Greenwich, CT, July 20, 2023 - W. R. Berkley Corporation (NYSE: WRB) today reported its second quarter 2023 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Second QuarterSix Months

2023202220232022

Gross premiums written$3,336,773 $3,052,401 $6,386,091 $5,912,237

Net premiums written2,811,515 2,585,635 5,386,339 4,998,889

Net income to common stockholders356,308 179,322 650,434 769,960

Net income per diluted share1.30 0.64 2.36 2.76

Operating income (1)310,862 313,359 586,531 619,827

Operating income per diluted share1.14 1.12 2.13 2.22

Return on equity (2)21.1 %10.8 %19.3 %23.1 %

Operating return on equity (1) (2)18.4 %18.8 %17.4 %18.6 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Second quarter highlights included:

•Return on equity and operating return on equity of 21.1% and 18.4%, respectively.

•Net income doubles to $356.3 million.

•Record net investment income of $245.2 million driven by core portfolio increase of 71.6%.

•Average rate increases excluding workers' compensation were approximately 8.2%.

•The current accident year combined ratio before catastrophe losses of 2.1 loss ratio points was 87.6%.

•The reported combined ratio was 89.6%, including current accident year catastrophe losses of $53.5 million.

•Record gross and net premiums written grew 9.3% and 8.7% to $3.3 billion and $2.8 billion, respectively.

•Total capital returned to shareholders was $320.8 million, consisting of $292.5 million of share repurchases and $28.3 million of regular dividends.

The Company commented:

The Company reported excellent results for the second quarter of 2023, with an annualized return on equity of 21.1%.

As anticipated, growth in premiums written accelerated compared to the first quarter of 2023, setting premium on pace for another record year. We continue to selectively expand in areas that we anticipate will meet or exceed our targeted risk-adjusted return, as distinct market segments and lines of business move independently. We maintained our rate momentum and reported a strong combined ratio, though the industry experienced another quarter of elevated natural catastrophe losses.

Net investment income grew 42.9% during the quarter as an increasingly greater portion of our fixed-maturity portfolio was (re)invested at higher interest rates. The short duration and high quality of our fixed-maturity portfolio has enabled us to simultaneously benefit from improved yields and grow book value as interest rates have risen. In addition, during the quarter, our investment results continued to benefit from our total return approach.

The Company’s focus on risk-adjusted return in all aspects of our business continues to generate superior results for our shareholders. Having a decentralized model allows us to navigate risks and embrace opportunities in a wide range of economic and operating environments. We have positive momentum as we head into the second half of the year and are very optimistic about the remainder of 2023 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on July 20, 2023, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on early to register. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports First Quarter Results

Return on Equity of 17.4%;

Quarterly Net Investment Income of $223 Million Driven By Core Portfolio Increase of 80.7%

Greenwich, CT, April 20, 2023 - W. R. Berkley Corporation (NYSE: WRB) today reported its first quarter 2023 results.

Summary Financial Data

(Amounts in thousands, except per share data)

First Quarter

20232022

Gross premiums written$3,049,317 $2,859,837

Net premiums written2,574,824 2,413,254

Net income to common stockholders294,126 590,638

Net income per diluted share1.06 2.12

Operating income (1)275,966 306,921

Operating income per diluted share1.00 1.10

Return on equity (2)17.4 %35.5 %

Operating return on equity (1) (2)16.4 %18.5 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

First quarter highlights included:

•Return on equity of 17.4%.

•Book value per share grew 7.2% prior to dividends and share repurchases.

•Net investment income grew 28.8% to $223.4 million.

•Average rate increases excluding workers' compensation were approximately 8.3%.

•Pre-tax underwriting income of $234.4 million.

•The current accident year combined ratio before catastrophe losses of 1.9 loss ratio points was 87.7%.

•The reported combined ratio was 90.6%, including current accident year catastrophe losses of $47.9 million and prior year development principally from property catastrophe losses of approximately $24 million.

•Total capital returned to shareholders was $293.8 million, consisting of $132.3 million of special dividends, $26.3 million of regular dividends and $135.2 million of share repurchases.

The Company commented:

The Company reported strong results for the first quarter of 2023, with continued strong underwriting performance and significant growth in investment income. The annualized return on equity was 17.4% and growth in book value per share, prior to dividends and share repurchases, was 7.2%.

The business continued to grow in areas that we anticipate will meet or exceed our targeted risk-adjusted return. While there is greater evidence that market segments and lines of business are not all moving in lock-step, our structure and discipline enable us to execute on and manage each of these cycles to optimize profitability, even as we maintain a prudent view of loss trends. We continue to carefully evaluate the available opportunities to deploy capital as we selectively expand our business.

Net investment income grew almost 29% during the quarter as an increasingly greater portion of the fixed-maturity portfolio was (re)invested at higher interest rates. We maintained the short duration and high quality of our fixed-maturity portfolio, given the inverted yield curve and market volatility.

The Company continues to focus on risk-adjusted return in all aspects of its business. Over time, this discipline has allowed us to navigate risks and embrace opportunities to deliver superior results for our shareholders. We remain encouraged about the opportunities that we see in 2023 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on April 20, 2023, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on at least ten minutes early to register and download and install any necessary software. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Fourth Quarter and Full Year Results Fourth Quarter Net Income Grew 29.8% and Return on Equity of 23.0% Record Annual Pre-Tax Underwriting Income of $1.0 Billion and Record Net Income of $1.4 Billion

Greenwich, CT, January 26, 2023 - W. R. Berkley Corporation (NYSE: WRB) today reported its fourth quarter and full year 2022 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Fourth QuarterTwelve Months

2022202120222021

Gross premiums written$2,914,877 $2,766,688 $11,909,052 $10,700,134

Net premiums written2,427,907 2,275,509 10,004,070 8,862,867

Net income to common stockholders382,223 294,430 1,381,062 1,022,490

Net income per diluted share (1)1.37 1.06 4.94 3.66

Operating income (2)323,329 284,323 1,223,934 951,861

Operating income per diluted share (1)1.16 1.02 4.38 3.40

Return on equity (3)23.0 %18.7 %20.8 %16.2 %

Operating return on equity (2) (3)19.4 %18.0 %18.4 %15.1 %

(1)The 2021 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on March 23, 2022.

(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Fourth quarter highlights included:

•Return on equity of 23.0%.

•Book value per share grew 8.1%, before dividends and share repurchases.

•Net investment income grew 40.2% to a record $231.3 million.

•Record quarterly pre-tax underwriting income of $291.9 million.

•The current accident year combined ratio before catastrophe losses of 1.2 loss ratio points was 87.2%.

•The reported combined ratio was 88.4%, including catastrophe losses of $30.8 million.

•Average rate increases excluding workers' compensation were approximately 6.9%.

Full year highlights included:

•Return on equity of 20.8%.

•Book value per share grew 6.1%, before dividends and share repurchases.

•Record annual pre-tax underwriting income and net income of $1.0 billion and $1.4 billion, respectively.

•Gross and net premiums written grew 11.3% and 12.9% to records $11.9 billion and $10.0 billion, respectively.

•Average rate increases excluding workers' compensation were approximately 7.5%.

•Net investment income grew 16.0% to a record $779.2 million.

•Operating cash flow increased 17.6% to a record of approximately $2.6 billion.

•Total capital returned to shareholders was $329.3 million, consisting of $132.6 million of special dividends, $102.6 million of regular dividends and $94.1 million of share repurchases.

The Company commented:

Our exceptional 23.0% annualized return on beginning equity in the fourth quarter of 2022 capped a record-setting year, characterized by continued growth, strong underwriting performance and increasing net investment income.

Net premiums written advanced nearly 7% in the fourth quarter, with further growth in areas of business that are achieving or exceeding our targeted risk-adjusted return on equity. We continue to thoughtfully position our book of business to navigate the uncertainties of the current inflationary environment and carefully evaluate the opportunities available to profitably deploy capital as we continue to expand our business.

Net investment income grew by 40% during the quarter and core net investment income grew by 75%. The short duration and high quality of our fixed-maturity portfolio, combined with record annual cash flow, allowed us to invest more funds at higher interest rates and increase book value per share for the full year by 6.1%, before dividends and share repurchases.

During 2022, our Company performed exceptionally well. Our results demonstrated how our core knowledge in underwriting and investing, combined with our focus on risk-adjusted return, allowed us to better navigate risks and embrace opportunities to deliver superior results for our shareholders. We remain encouraged about the opportunities that we see in 2023 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on January 26, 2023, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/news-and-events/events-and-presentations/default.aspx. Please log on at least ten minutes

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Third Quarter Results

Operating Return on Equity of 16.9% and Return on Equity of 13.8%;

Core Net Investment Income Up 51.0% and Pre-Tax Underwriting Income of $192 Million

Greenwich, CT, October 24, 2022 - W. R. Berkley Corporation (NYSE: WRB) today reported its third quarter 2022 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Third QuarterNine Months

2022202120222021

Gross premiums written$3,081,938 $2,787,499 $8,994,175 $7,933,446

Net premiums written2,577,274 2,325,138 7,576,163 6,587,357

Net income to common stockholders228,879 261,297 998,839 728,060

Net income per diluted share (2)0.82 0.93 3.57 2.59

Operating income (1)281,833 246,699 901,436 667,539

Operating income per diluted share (2)1.01 0.88 3.22 2.38

Return on equity (3)13.8 %16.6 %20.0 %15.4 %

Operating return on equity (1) (3)16.9 %15.6 %18.1 %14.1 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)The 2021 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on March 23, 2022.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Third quarter highlights included:

•Operating return on equity of 16.9%.

•Average rate increases excluding workers' compensation were approximately 7.3%.

•Pre-tax underwriting income of $192.1 million.

•The current accident year combined ratio before catastrophe losses of 3.9 loss ratio points was 86.6%.

•The reported combined ratio was 92.1%, including catastrophe losses of $94.1 million.

•Net investment income for the core portfolio grew 51.0%, driving record quarterly net investment income.

•Operating income increased 14.2% to $281.8 million.

•Record gross premiums written grew 10.6% to $3.1 billion and net premiums written grew 10.8% to $2.6 billion.

The Company commented:

Results for the third quarter of 2022 were excellent, with strong underwriting performance and net investment income driving a 16.9% annualized operating return on beginning stockholders’ equity. Net premiums written grew 10.8%. The short duration and high quality of our fixed-maturity securities tempered the market value impact on the Company’s book value and allowed us to quickly invest more funds at higher interest rates and grow core net investment income by 51%.

Growth in net premiums written reflected the continuation of favorable market conditions for many of our products. After several years of compounding rate, the majority of our businesses are achieving or exceeding our target return on equity. As a result, we continue to expand our business, while maintaining our focus on rate adequacy in this inflationary environment.

We manage the business for lower relative volatility, which was again demonstrated in our results during another quarter of significant industry-wide catastrophe losses. We continue to evaluate the changing market conditions and the opportunities available to deploy capital where we believe adequate risk-adjusted returns can be achieved.

The uncertainties and challenges of today’s environment provide many opportunities. Our knowledge, expertise and experience allow us to navigate the risks and embrace opportunities in our underwriting and investing activities. The Company continues to perform exceptionally well, delivering superior long-term risk-adjusted returns and creating value for shareholders. We remain optimistic about the future.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on October 24, 2022, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on at least ten minutes early to register and download and install any necessary software. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwi

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Second Quarter Results

Net Premiums Written Grew 16.9% to a Quarterly Record of $2.6 Billion;

Operating Income Increased 43.0%

Greenwich, CT, July 21, 2022 - W. R. Berkley Corporation (NYSE: WRB) today reported its second quarter 2022 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Second QuarterSix Months

2022202120222021

Gross premiums written$3,052,401 $2,661,236 $5,912,237 $5,145,948

Net premiums written2,585,635 2,212,181 4,998,889 4,262,219

Net income to common stockholders179,322 237,238 769,960 466,763

Net income per diluted share (2)0.64 0.85 2.76 1.66

Operating income (1)313,359 219,059 619,827 420,840

Operating income per diluted share (2)1.12 0.78 2.22 1.50

Return on equity (3)10.8 %15.0 %23.1 %14.8 %

Operating return on equity (1) (3)18.8 %13.9 %18.6 %13.3 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)The 2021 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on March 23, 2022.

(3)Return on equity and operating return on equity represent net income and operating income, respectively, expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Second quarter highlights included:

•Record gross and net premiums written grew 14.7% and 16.9% to $3.1 billion and $2.6 billion, respectively.

•Underwriting income increased 32.6% to $268.2 million.

•The current accident year combined ratio before catastrophe losses of 2.5 loss ratio points was 86.2%.

•The reported combined ratio was 88.6%, including catastrophe losses of $57.9 million.

•Net investment income for the core portfolio grew 29.7%.

•Total capital returned to shareholders was $159.2 million, consisting of $132.7 million of special dividends and $26.5 million of regular dividends.

•Operating return on equity of 18.8%.

The Company commented:

The Company reported excellent results for the second quarter of 2022, principally due to strong underwriting income, with an 88.6% combined ratio and an 18.8% annualized operating return on beginning stockholders’ equity. The short duration of our investment portfolio tempered the impact of rising interest rates on the value of the Company’s fixed-maturity securities and consequently its book value.

Net premiums written grew by nearly 17% as market conditions remained favorable for most lines of business. The majority of our businesses expanded, particularly in the E&S and specialty markets. After several years of compounding rate, most of our businesses are achieving or exceeding our target return on equity, and we are placing greater emphasis on exposure growth. In addition, this growth has driven further improvement in our expense ratio.

Core net investment income grew nearly 30% due primarily to higher yields. Our investment funds, which are reported on a one-quarter lag, performed well despite challenging equity markets in the first quarter of 2022. We expect investment income will benefit further as interest rates continue to move higher.

The Company is performing exceptionally well. Our results demonstrate how our strategy and execution translate into consistently superior long-term risk-adjusted returns and value creation. Our talented team is well-prepared and our underwriting and investment portfolios remain well-positioned for the uncertainties and challenges of today’s environment, including inflation. We continue to be optimistic about the remainder of 2022 and beyond.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on July 21, 2022, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/events-and-presentations/default.aspx. Please log on at least ten minutes early to register and download and install any necessary software. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insu

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports First Quarter Results

Record Quarterly Underwriting Income of $274 Million,

Net Income Increased 157% to $591 Million and Return on Equity of 35.5%

Greenwich, CT, April 25, 2022 - W. R. Berkley Corporation (NYSE: WRB) today reported its first quarter 2022 results.

Summary Financial Data

(Amounts in thousands, except per share data)

First Quarter

20222021

Gross premiums written$2,859,837 $2,484,712

Net premiums written2,413,254 2,050,038

Net income to common stockholders590,638 229,525

Net income per diluted share (1)2.12 0.82

Operating income (2)306,921 201,780

Operating income per diluted share (1)1.10 0.72

Return on equity (3)35.5 %14.5 %

(1)The 2021 per share amounts were restated for comparative purposes to reflect the 3-for-2 common stock split effected on March 23, 2022.

(2)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(3)Return on equity represents net income expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

First quarter highlights included:

•Return on equity of 35.5%.

•Record quarterly underwriting income and net income of $274.4 million and $590.6 million, respectively.

•Net premiums written increased nearly 18% to a quarterly record of $2.4 billion.

•The current accident year combined ratio before catastrophe losses of 1.3 loss ratio points was 86.5%.

•The reported combined ratio was 87.8%, including catastrophe losses of $28.8 million.

•Record quarterly net investment gain of $366.3 million, mainly due to real estate investment sales.

•Book value per share grew 3.5% before dividends, benefitting from our decision to maintain a short investment duration.

The Company commented:

The Company reported exceptional results for the first quarter of 2022, due to another quarter of record underwriting results and continued strong investment income, including significant realized gains from the sale of investments. We reported a 35.5% return on beginning stockholders’ equity. Book value per share before dividends grew 3.5%, benefitting from our decision to maintain a short investment duration, notwithstanding the impact of rising interest rates.

Net premiums written grew by nearly 18% as the majority of our businesses expanded, particularly in the E&S and specialty markets. Rate increases remained above expected loss cost trends for the majority of our lines of business. Rate and exposure growth improved our loss and expense ratios.

As we previously announced, the Company realized a pretax gain on the sale of a real estate investment in London of more than $300 million before transaction expenses and the impact of foreign currency. Net investment income grew more than 9% as investment funds continued to outperform and fixed-maturity income benefited from higher yields. We expect the latter trend to accelerate as interest rates move higher.

We remain focused on our total risk-adjusted return strategy and expect relative market stability in most parts of our business. Our underwriting and investment portfolios remain well-positioned for the inflationary environment. The Company is performing exceptionally well and we continue to be optimistic about our opportunities going forward.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on April 25, 2022, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/news-and-events/events-andpresentations/default.aspx. Please log on at least ten minutes early to register and download and install any necessary software. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/quarterly-results/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements relate

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. Berkley Corporation Reports Fourth Quarter and Full Year Results

Fourth Quarter Net Premiums Written Grew 26.6% and Return on Equity of 18.7%

Greenwich, CT, January 27, 2022 - W. R. Berkley Corporation (NYSE: WRB) today reported its fourth quarter and full year 2021 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Fourth QuarterTwelve Months

2021202020212020

Gross premiums written$2,766,688 $2,221,484 $10,700,134 $8,847,647

Net premiums written2,275,509 1,797,457 8,862,867 7,262,437

Net income to common stockholders294,430 312,150 1,022,490 530,670

Net income per diluted share1.59 1.67 5.48 2.81

Operating income (1)284,323 173,043 951,861 438,253

Operating income per diluted share1.53 0.92 5.10 2.32

Return on equity (2)18.7 %20.6 %16.2 %8.7 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)Return on equity represents net income expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Fourth quarter highlights included:

•Return on equity of 18.7%.

•Record quarterly underwriting income of $260.9 million.

•Net premiums written increased 26.6%.

•The current accident year combined ratio before catastrophe losses of 2.2 loss ratio points was 86.0%.

•The reported combined ratio was 88.2%, including catastrophe losses of $48.5 million.

•Average rate increases excluding workers' compensation were approximately 9.3%.

•Total capital returned to shareholders was $199.6 million, consisting of $176.7 million of special dividends and $22.9 million of regular dividends.

Full year highlights included:

•Record full year underwriting income and net income of $845.3 million and $1.0 billion, respectively.

•Return on equity of 16.2%.

•Record gross and net premiums written grew 20.9% and 22.0% to $10.7 billion and $8.9 billion, respectively.

•Average rate increases excluding workers' compensation were approximately 10.4%.

•Operating cash flow increased 35.1% to approximately $2.2 billion.

•Book value per share grew 12.5%, before dividends and share repurchases.

•Total capital returned to shareholders was $478.1 million, including $265.3 million of special dividends, $90.4 million of regular dividends and $122.4 million of share repurchases.

•Formed two new operating units, Berkley Management Protection and Berkley Small Business Solutions.

The Company commented:

The Company had another outstanding quarter, which together with strong performance in the first nine months of 2021, led to a record year on many fronts, despite catastrophe losses and continuing low interest rates. The fourth quarter was highlighted by more than 26% growth in net premiums written and an 18.7% annualized return on equity.

Robust premium growth was driven by continued strong rate increases in nearly all lines of business combined with higher exposure growth. Record underwriting income in the quarter reflected year-over-year margin improvement and a further reduction in the expense ratio. We anticipate that the factors fueling the Company’s growth should remain in place for the foreseeable future and that compounding rate increases in excess of loss trend will further contribute to underwriting profits as premiums are fully earned.

Our investment portfolio also performed extremely well in both the quarter and full year. Through our total return strategy, including our allocation to alternative investments, we seek to maximize our investment portfolio’s risk-adjusted returns. In addition, we maintain a short duration in our fixed-maturity portfolio, which has limited the impact of rising interest rates on book value.

Our decentralized business model, built on a culture of innovation with specialized teams of people having extensive knowledge and expertise, allows us to quickly and effectively respond to opportunities in the marketplace. This structure enables us to maintain appropriate discipline throughout the market cycle and achieve robust growth in revenues and earnings when margins improve. Our underwriting and investment portfolios are well-positioned for the anticipated inflationary environment. The Company is performing exceptionally well and we look forward to another great year in 2022.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on January 27, 2022, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.

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NEWS

RELEASE

W. R. Berkley Corporation

475 Steamboat Road

Greenwich, Connecticut 06830

(203) 629-3000

FOR IMMEDIATE RELEASE     CONTACT:    Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

W. R. BERKLEY CORPORATION REPORTS THIRD QUARTER RESULTS

Third Quarter Net Income Increased 72.3% and Return on Equity of 16.6%

Greenwich, CT, October 21, 2021 - W. R. Berkley Corporation (NYSE: WRB) today reported its third quarter 2021 results.

Summary Financial Data

(Amounts in thousands, except per share data)

Third QuarterNine Months

2021202020212020

Gross premiums written$2,787,499 $2,262,545 $7,933,446 $6,626,163

Net premiums written2,325,138 1,879,316 6,587,357 5,464,980

Net income to common stockholders261,297 151,678 728,060 218,520

Net income per diluted share1.40 0.81 3.89 1.15

Operating income (1)246,699 121,146 667,539 265,210

Operating income per diluted share1.32 0.65 3.57 1.40

Return on equity (2)16.6 %10.0 %15.4 %4.8 %

(1)Operating income is a non-GAAP financial measure defined by the Company as net income excluding after-tax net investment gains (losses) and related expenses.

(2)Return on equity represents net income expressed on an annualized basis as a percentage of beginning of year common stockholders’ equity.

W. R. Berkley Corporation        2

Third quarter highlights included:

•Return on equity of 16.6%.

•Net premiums written increased 23.7%.

•The current accident year combined ratio before catastrophe losses of 3.5 loss ratio points was 86.9%.

•The reported combined ratio was 90.4%, including catastrophe losses of $73.8 million.

•Average rate increases excluding workers' compensation were approximately 10.1%.

•Net investment income increased 26.1% to $179.9 million.

•Operating income increased 103.6% to $246.7 million.

•Total capital returned to shareholders was $115.8 million, consisting of $92.7 million of share repurchases and $23.1 million of dividends.

The Company commented:

The Company had another outstanding quarter with 24% growth in net premiums written, a combined ratio of 90.4%, and an annualized return on equity of 16.6%. These results were achieved in spite of significant industry catastrophe losses and low interest rates.

Overall rate increases remained robust in nearly all lines of business, and we expect this to continue for the foreseeable future. We see expanding opportunities to write business at attractive underwriting margins, given the strong commercial property and casualty pricing environment. The increasing focus that distribution partners and clients are placing on stable markets with balance sheet strength and expertise, particularly in specialty and E&S lines, is also contributing to growth.

Underwriting income increased 80% in the quarter. We expect that exposure growth and compounding rate achievement will contribute to additional underwriting profits as premiums are fully earned. While we maintain a high-quality short-duration fixed-maturity portfolio, investment income grew 26% in the quarter as investment funds delivered another strong performance.

The Company is performing well as we remain focused on our total risk-adjusted return strategy. Opportunities like the current environment are infrequent in the property casualty insurance market, and we are striving to make the most of it.

W. R. Berkley Corporation        3

Webcast Conference Call

The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on October 21, 2021, at 5:00 p.m. eastern time. The conference call will be webcast live on the Company's website at https://ir.berkley.com/news-and-events/events-and-presentations/default.aspx. Please log on at least ten minutes early to register and download and install any necessary software. A replay of the webcast will be available on the Company's website approximately two hours after the end of the conference call. Additional financial information can be found on the Company's website at https://ir.berkley.com/investor-relations/financial-information/annual-reports/default.aspx.

About W. R. Berkley Corporation

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance & Monoline Excess.

W. R. Berkley Corporation        4

Forward Looking Information

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2021 and beyond, are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a re