Attached files
file | filename |
---|---|
EX-99.1 - PRESS RELEASE DATED APRIL 23, 2012 - BERKLEY W R CORP | wrb33112ex991.htm |
8-K - FIRST QUARTER 2012 EARNINGS RELEASE - BERKLEY W R CORP | wrb331128k.htm |
W. R. Berkley Corporation | Exhibit 99.2 | |||||||||||||||||||||||
Selected Financial Statement Balances | ||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||
2008 | 2009 | 2010 | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | Full Year | |||||||||||||||||
After Retrospective Change in Accounting for Deferred Policy Acquisition Costs | ||||||||||||||||||||||||
Underwriting expenses | $ | 1,305,593 | $ | 1,250,815 | $ | 1,318,878 | $ | 340,483 | $ | 355,113 | $ | 363,889 | $ | 378,644 | $ | 1,438,129 | ||||||||
Tax on operations | 169,196 | 85,883 | 132,519 | 33,105 | 18,354 | 12,321 | 14,331 | 78,111 | ||||||||||||||||
After-tax operating income | 511,753 | 332,380 | 409,531 | 96,800 | 67,848 | 62,626 | 82,290 | 309,564 | ||||||||||||||||
Net income | 279,795 | 307,506 | 446,405 | 115,590 | 82,184 | 76,410 | 117,027 | 391,211 | ||||||||||||||||
Operating earnings per share | 2.95 | 2.00 | 2.64 | 0.66 | 0.46 | 0.43 | 0.58 | 2.13 | ||||||||||||||||
Net income earnings per share | 1.61 | 1.85 | 2.88 | 0.78 | 0.56 | 0.53 | 0.82 | 2.69 | ||||||||||||||||
Return on equity | 7.9 | % | 10.3 | % | 12.6 | % | 12.7 | % | 9 | % | 8.4 | % | 12.8 | % | 10.7 | % | ||||||||
Loss ratio | 62.7 | % | 61.4 | % | 60.2 | % | 61.8 | % | 66.3 | % | 64.8 | % | 62.7 | % | 63.9 | % | ||||||||
Expense ratio | 30.4 | % | 32.9 | % | 34.4 | % | 34.7 | % | 34.9 | % | 34.5 | % | 34.3 | % | 34.6 | % | ||||||||
Combined Ratio | 93.1 | % | 94.3 | % | 94.6 | % | 96.5 | % | 101.2 | % | 99.3 | % | 97 | % | 98.5 | % | ||||||||
Deferred Acquisition costs | 322,895 | 317,093 | 327,282 | 349,975 | 359,387 | 367,995 | 364,937 | 364,937 | ||||||||||||||||
Deferred income tax asset (liability) | 354,285 | 216,121 | 92,676 | 103,751 | 42,942 | 23,195 | (2,834 | ) | (2,834 | ) | ||||||||||||||
Common stockholders' equity | 2,999,271 | 3,547,473 | 3,651,397 | 3,739,411 | 3,859,535 | 3,808,222 | 3,953,356 | 3,953,356 | ||||||||||||||||
Book value per share | 18.58 | 22.66 | 25.89 | 26.41 | 27.39 | 27.78 | 28.75 | 28.75 | ||||||||||||||||
As Originally Reported | ||||||||||||||||||||||||
Underwriting expenses | $ | 1,303,551 | $ | 1,248,463 | $ | 1,314,483 | $ | 339,185 | $ | 353,814 | $ | 362,590 | $ | 377,343 | $ | 1,432,932 | ||||||||
Tax on operations | 169,892 | 86,684 | 134,032 | 33,506 | 18,755 | 12,722 | 14,733 | 79,716 | ||||||||||||||||
After-tax operating income | 513,099 | 333,931 | 412,413 | 97,697 | 68,746 | 63,524 | 83,189 | 313,156 | ||||||||||||||||
Net income | 281,141 | 309,057 | 449,287 | 116,487 | 83,082 | 77,308 | 117,926 | 394,803 | ||||||||||||||||
Operating earnings per share | 2.96 | 2.00 | 2.66 | 0.66 | 0.46 | 0.44 | 0.58 | 2.15 | ||||||||||||||||
Net income earnings per share | 1.62 | 1.86 | 2.90 | 0.79 | 0.56 | 0.53 | 0.82 | 2.71 | ||||||||||||||||
Return on equity | 7.8 | % | 10.1 | % | 12.5 | % | 12.6 | % | 9 | % | 8.4 | % | 12.7 | % | 10.7 | % | ||||||||
Loss ratio | 62.7 | % | 61.4 | % | 60.2 | % | 61.8 | % | 66.3 | % | 64.8 | % | 62.7 | % | 63.9 | % | ||||||||
Expense ratio | 30.4 | % | 32.8 | % | 34.3 | % | 34.5 | % | 34.8 | % | 34.3 | % | 34.1 | % | 34.4 | % | ||||||||
Combined Ratio | 93.1 | % | 94.2 | % | 94.5 | % | 96.3 | % | 101.1 | % | 99.1 | % | 96.8 | % | 98.3 | % | ||||||||
Deferred Acquisition costs | 394,807 | 391,360 | 405,942 | 429,933 | 440,644 | 450,552 | 448,795 | 448,795 | ||||||||||||||||
Deferred income tax asset (liability) | 329,417 | 190,450 | 65,492 | 76,167 | 14,957 | (5,192 | ) | (31,623 | ) | (31,623 | ) | |||||||||||||
Common stockholders' equity | 3,046,319 | 3,596,067 | 3,702,876 | 3,791,784 | 3,912,807 | 3,862,393 | 4,008,426 | 4,008,426 | ||||||||||||||||
Book value per share | 18.87 | 22.97 | 26.26 | 26.78 | 27.77 | 28.18 | 29.15 | 29.15 |