WR Berkley 3Q14 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Domestic insurance market offers the most promise

“The domestic insurance market continues to offer the greatest promise from our perspective. Casualty and workers’ comp continue to standout as particularly attractive. Non-cat exposed property also offers some opportunity and we are seeing the ability to get additional rate there. Having said that, cat exposed property is a bit of a different story.”

Global reinsurance market continues to concern us

“The big question mark or concern from our perspective continues to be the global reinsurance market. We’ve talked about this over the past several quarters and it continues to be front and center on our radar screen.”

Building our investment portfolio in alternative sorts of investments

“we continue to build our investments portfolio in alternative kinds of things, our private equity portfolio which is where we own large percentages of companies.”

Reinsurance market is a buyers market right now

“I think, stating the obvious, it’s a better moment to be a buyer than a seller. I think as far as long-term goes, it’s still a bit unclear as to the permanence of this alternative capital. It hasn’t fundamentally been tested from a loss perspective where a lot of the decisions and judgments, which are based on models, proved to be wrong as a result of some type of unforeseen or unfortunate events.”