Since its earnings report released last month, W.R. Berkley Corp. (NYSE:$WRB) shares have lost about 5.3%, way underperforming the market.

W.R. Berkley’s 3Q17 operating income of 36 cents per share beat the Zacks Consensus Estimate of 32 cents by 12.5%. But the bottom line plunged 59.1% year over year.

The company saw improved revenues thanks to higher revenues from non-insurance business. Both insurance, as well as Reinsurance, remained affected in the quarter, while expenses increased.

Net income slumped 26.7% from the year-ago quarter to $1.26 per share.

Further, W.R. Berkley’s net premiums written for the quarter were around $1.6 billion, down 2.2% year over year. Lower premiums written at both the Insurance and Reinsurance segments resulted in the downside.

Operating revenues came in at $1.8 billion, up 6.6% year over year, driven by higher revenues from non-insurance business. The top line surpassed the Zacks Consensus Estimate of $1.7 billion.

Following the release, investors witnessed a downward trend in fresh estimates. The stock now sees a subpar Growth Score of D, though it is lagging a bit on the momentum front with an F. However, the stock was allocated a grade of B on the value side, placing it in the top 40% for this investment strategy.

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