W. R. Berkley Corporation announced that its board has increased the company’s share‑repurchase authorization to 25 million shares of common stock, up from the 15 million‑share limit that was in place since June 2023. The expansion gives management a larger pool of shares that can be bought back at the company’s discretion, reinforcing its commitment to returning excess capital to shareholders.
The move follows a strong financial performance in the third quarter of 2025, when the company reported net income of $511 million—an increase of 39.8% year‑over‑year—and a combined ratio of 90.9%, well below the industry average. These results demonstrate robust underwriting profitability and healthy cash‑flow generation, providing the financial foundation for a larger buyback program.
Management emphasized that the authorization increase reflects confidence in the company’s cash‑flow outlook and its ability to sustain a disciplined capital‑return strategy. “We are pleased to provide our shareholders with additional flexibility to return capital when the market is attractive,” said the chief financial officer. The company also highlighted its long‑standing dividend history, noting a 51‑year streak of uninterrupted payments and a current yield of 2.72%.
Share repurchases will be conducted on a “as‑available” basis and are subject to market conditions, regulatory approvals, and other factors. The company has not set a specific timeline for the program, but the expanded authorization allows it to accelerate buybacks if the share price is deemed undervalued. This flexibility is expected to support earnings per share growth and enhance shareholder value over time.
The authorization increase aligns with W. R. Berkley’s broader strategy of balancing book‑value growth with capital returns. By expanding the buyback pool, the company can more readily adjust its capital structure in response to market opportunities while maintaining its commitment to dividend payments and long‑term shareholder value.
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