NU Online News Service, Oct. 28, 3:48 p.m. EDT

Insurer W.R. Berkley Corp. reported third-quarter net income rose substantially from a loss for the period last year, and its chief executive predicted a 2010 insurance market upturn.

Greenwich, Conn.-based Berkley reported net income of $98 million, or 59 cents per share, compared to net loss of $28 million, or negative 17 cents per share, for the same period last year. Revenues for the period grew close to 8 percent, or $80 million, to $1.14 billion for the third quarter.

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