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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Elyse Greenspan | Wells Fargo | 9 (22%) |
| Andrew Kligerman | TD Cowen | 9 (0%) |
| Dave Motemaden | Evercore ISI | 9 (0%) |
| Josh Shanker | Bank of America | 9 (11%) |
| Meyer Shields | KBW | 8 (0%) |
| Mike Zaremski | BMO Capital Markets | 8 (13%) |
| Mark Hughes | Truist Securities | 7 (14%) |
| Brian Meredith | UBS | 7 (0%) |
| Andrew Andersen | Jefferies | 7 (0%) |
| Rob Cox | Goldman Sachs | 6 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wells Fargo | 2 | 12 (17%) |
| TD Cowen | 1 | 9 (0%) |
| Evercore ISI | 1 | 9 (0%) |
| Bank of America | 1 |
W.R. Berkley delivered record Q1 operating income of $514M or $1.30 per share driven by record net investment income increasing 12.2% to $404M. The insurance segment grew gross premiums written 4.5% to $3.4B while maintaining strong underwriting profitability, and the expense ratio was reiterated as comfortably below 30% for 2026. Market competition intensified across lines with the reinsurance segment contracting on pricing discipline, and the company pivoted its strategic growth approach from rate to volume amid casualty loss cost trends.
Competitive Dynamics | Revenue Growth | Pricing | Cost Pressure | Capital Allocation | Margin | Guidance Reliability | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 2 | 3 | 3 | 3 | 1 | 2 |
| 2025Q1 | 3 | 3 | 2 | 2 | 3 | 2 | ||
| 2025Q2 | 2 | 3 | 3 | 3 | 4 | 3 | 1 | |
| 2025Q3 | 7 | 5 | 3 | 4 | 4 | 1 | 2 | 1 |
| 2025Q4 | 4 | 3 | 7 | 3 | 1 | 2 | 3 | 2 |
| 2026Q1 | 10 | 12 | 8 | 1 | 3 | 5 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 4 | 3 | 2 | 7 | 4 | 10 |
| Revenue Growth | 3 | 3 | 3 | 5 | 3 | 12 |
| Pricing | 2 | 2 | 3 | 3 | 7 | 8 |
| Cost Pressure | 3 | 2 | 3 | 4 | 3 | 1 |
| Capital Allocation | 3 | 4 | 4 | 1 | 3 | |
| Margin | 3 | 3 | 1 | 2 | 5 | |
| Guidance Reliability | 1 | 2 | 3 | 2 | 3 | |
| Capex Investment | 2 | 1 | 1 | 2 | 1 |
| 9 (11%) |
| BMO Capital Markets | 1 | 8 (13%) |
| KBW | 1 | 8 (0%) |
| UBS | 1 | 7 (0%) |
| Jefferies | 1 | 7 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.67B | +13.9% | $1.44 | +46.9% | 19.9% | 15.7% |
| FY2025 Q1 | $3.55B | +8.9% | $1.04 | -4.6% | 15.2% | 11.8% |
| FY2025 Q2 | $3.67B | +10.8% | $1.00 | +8.7% | 14.2% | 10.9% |
| FY2025 Q3 | $3.77B | +10.8% | $1.28 | +40.7% | 17.7% | 13.6% |
| FY2025 Q4 | $3.72B | +1.4% | $1.13 | -21.5% | 16.3% | 12.1% |
| FY2026 Q1 | $3.69B | +4.0% | $1.31 | +26.0% | 16.7% | 14.0% |
| FY2026 Q2 | $3.72B | +1.2% | $1.15 | +15.0% | 15.5% | 12.2% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
WRB W. R. Berkley Corporation | 6 | +4.0% | |
| ALL Allstate | 7 | +4.2% | |
| CB Chubb Limited | 7 | +9.5% | |
| CINF Cincinnati Financial | 7 | +11.6% | |
| ERIE Erie Indemnity | 6 | +2.3% | |
| FACO First Acceptance Corporation | 5 | -5.4% | |
| KMPR Kemper Corporation | 2 | -6.8% | |
| L Loews Corporation | 5 | +2.6% | |
| LMND Lemonade, Inc. | 9 | +55.0% | |
| MCY Mercury General Corporation | 8 | +10.5% | |
| PGR Progressive Corporation | 7 | +8.7% | |
| ROOT Root, Inc. | 8 | +12.6% | |
| TRV The Travelers Companies, Inc. | 5 | +1.0% |