W. R. Berkley Corporation (WRB) Q3 2022 Earnings Call Transcript

W. R. Berkley Corporation (NYSE:WRB) Q3 2022 Earnings Conference Call October 24, 2022 5:00 PM ET

Company Participants

Robert Berkley - President and Chief Executive Officer

Rich Baio - Executive Vice President and Chief Financial Officer

Conference Call Participants

Elyse Greenspan - Wells Fargo

Mike Zaremski - BMO

Michael Phillips - Morgan Stanley

Yaron Kinar - Jefferies

Josh Shanker - Bank of America

Ryan Tunis - Autonomous Research

Brian Meredith - UBS

Mark Dwelle - RBC Capital Markets

Mark Hughes - Truist Securities

David Motemaden - Evercore

Operator

Good day, and welcome to W. R. Berkley Corporation’s Third Quarter 2022 Earnings Conference Call. Today's call is being recorded.

The speakers' remarks may contain forward-looking statements. Some of the forward-looking statements can be identified by the use of forward-looking words, including, without limitation, believes, expects or estimates. We caution you that such forward-looking statements should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will, in fact, be achieved. Please refer to our annual report on Form 10-K for the year ended December 31, 2021, and our other filings made with the SEC for a description of the business environment in which we operate and the important factors that may materially affect our results. W. R. Berkley Corporation is not under any obligation and expressly disclaims any such obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

I would now like to turn the call over to Mr. Rob Berkley. Please go ahead, sir.

Robert Berkley

Beau, thank you very much and let me echo your welcome to all to our third quarter call. We appreciate you finding time to join us. Joining me on this end of call is also Bill Berkley, our Executive Chairman; as well as Rich Baio, Executive Vice President and Chief Financial Officer.

We're going to follow our typical agenda where, on very short order, I'm going to be handing it over to Rich, he's going to run through some highlights of the quarter. I will follow with a couple of observations on my end and then you will have the three of us at your disposal to take a Q&A session anywhere people would like to take it.

Before I hand it over to Rich, I did want to flag or raise a thought for participants’ consideration and it’s something that we spent a good deal of time thinking about on our end. And it particularly comes into focus during periods of time like what we saw in the third quarter when cat activity spikes considerably. And great attention amongst many turns to trying to understand exposures, trying to understand claims activity and what does that mean from a dollars and cents perspective. And those questions are well-placed and are all important and appropriate.