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W.R. Berkley's Net Income Up $17.1% During First Quarter

Posted on 25 Apr 2012

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W.R. Berkley Corp.’s net income rose 17.1% to $135.3 million during the first quarter of this year compared with the same period last year, the company announced Monday.

Total revenues in the first quarter grew 11.7% to $1.38 billion. Net written premium grew 11.1% to $1.20 billion. The company’s combined ratio remained unchanged from the same period a year earlier at 96.5%.

“We are very pleased with our first quarter results,” said Chairman and CEO William R. Berkley in a statement. “All of the business units achieved underwriting profits, our newer ventures continued to gain traction and price increases are accelerating. On an accident-year basis, our loss ratio is declining, and we anticipate that it will continue to improve throughout the year.”