W.R. Berkley 3Q Profit Up 27%
NU Online News Service, Oct. 27, 1:58 p.m. EDT?W. R. Berkley Corporation reported third-quarter net income of $97 million, a 27 percent increase from $76 million during the year-ago period, as the premium growth and higher investment income compensated for hurricane losses.[@@]
The Greenwich, Conn.-based company said its pre-tax losses attributable to Hurricanes Charley, Frances, Ivan and Jeanne were $32 million. But making up for these losses were higher net premiums written of $1.059 billion, an increase of 13 percent compared $939 million during the third quarter of 2003.
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