By Chris Munro

April 22 - (The Insurer) - WR Berkley $(WRB)$ continues to push for rate rises after securing an ex-workers compensation average increase of 8.3% across its portfolio in Q1 2025.

The Greenwich, Connecticut-based company booked net premiums written $(NPW.SI)$ of $3.13 billion in 2025’s first quarter, up from the prior year period’s $2.85 billion.

Gross premiums written grew to $3.68 billion, compared with Q1 2024’s $3.36 billion.

Speaking to analysts after WRB published its earnings, Berkley noted that the company’s top line increased by 9.9% year on year in 2025’s first quarter.

“We are pretty pleased with that,” he said.

“Obviously, rate contributed to that, with ex-comp coming in at 8.3%. In addition to that, the renewal retention ratio continues to hang around 80%. I mean it's like ballast to the ship: it just doesn't move around very much,” the executive detailed.

“It's a relevant data point because it tells you, as we continue to push for rate and making sure that we're getting paid what we need to get paid, we are not churning the book.”

Drilling down into its insurance operations, Berkley provided insight into the state of play within certain segments.

Professional liability “has become particularly competitive”, the executive said.

“And at the risk of being a little bit rude, which I apologise for in advance, I think transactional liability, as far as the marketplace, probably gets the Stupid Award.”

WRB grew its workers’ compensation NPW to $340.6 million in Q1 2025, up from the prior year period’s $304.6 million.

The company has previously expressed reservations regarding the workers' compensation sector and medical cost trend, but on the call, Berkley said the growth the company booked in the segment was within the specialty segment.

“Typically, it’s a little higher hazard in nature,” he said.

“There is less competition, and you're not seeing both regional and in particular national carriers trying to play the game and leverage the multiline offering to get the comp. So that continues to be a good opportunity from our perspective,” Berkley said.

Elsewhere, Berkley said WRB continues to see opportunities in the property lines as well as A&H.

With regards to property, Berkley said WRB continues “to see opportunity to push rate at a pretty healthy pace on the risk front”.

“On the cat front, certainly, there's a bit more competition, particularly coming out of the likes of Lloyds, both directly as well as through binding authorities that they seem to, for some reason, be empowering.

“In addition to that, Berkley One, our private client, high-net-worth personal lines business, continues to be able to demonstrate their considerable value proposition to the marketplace and grow their footprint while simultaneously taking very healthy rate.

“And then lastly, our A&H business, which has a rich history of performing at a very high level, continues to be able to capitalise on market conditions.”