W.R. Berkley Corp. reported a 26 percent increase in third-quarter profits despite a 56 percent rise in catastrophe losses.

The Greenwich, Conn.-based commercial lines insurer reported $122.5 million in profit on revenue of $1.27 billion, compared with $97 million profit on revenues of $1.14 billion in the same period last year.

The company also reported $1.13 billion in net premiums earned, up from $1.03 billion in the third quarter last year.

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