Greenwich, Conn.-based W.R. Berkley Corp. reported yesterday that first quarter net income was virtually unchanged, but thanks to a share repurchase, net income per share increased to $1.03 from 93 cents per share in last year's first quarter.

Actual net income was virtually unchanged at $188 million.

First-quarter operating income dropped by $31 million to $153 million, or 83 cents per share, compared with $184 million, or 91 cents per share, last year.

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