W.R. Berkley Corp. says its fourth-quarter net income rose 41 percent due to improved pricing.
"We are very pleased with the direction everything is moving in," William R. Berkley, chairman and chief executive officer, said during a conference call with analysts today.
Fourth-quarter net income climbed by $48 million to more than $165 million. Revenues were up 17 percent, or $238 million, to $1.61 billion. The company's combined ratio in the quarter rose 1.1 points to 98.1, primarily due to about $40 million in before-tax Superstorm Sandy losses.
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