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Greenwich, Conn.-based insurer W.R. Berkley says 2011 fourth-quarter net income was down 7 percent, but its chief executive says rate increases are taking hold and 2012 should be a better year.

W. R. Berkley Corp. says its third-quarter net income was down 18.1 percent to $77 million, from $94 million during the same period a year ago.

W. R. Berkley Corp. says it is forming Berkley Re U.K. Ltd. to be based in London.

William R. Berkley, chairman and CEO of W.R. Berkley Corp., says the company isn’t planning any celebratory parties, but for the first time in about four years the commercial-lines writer can say prices during a quarter were up, albeit very slightly.

Chubb, FM Global and W.R. Berkley Corp. were the strongest financial performers over the last decade, according to a special report of U.S. property and casualty insurers by Fitch Ratings.

W.R. Berkley Corp. announced that Robert Berkley Jr., the 36-year-old son of company founder and Chief Executive Officer W.R. Berkley, has been named president and chief operating officer.

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.

Insurer W. R. Berkley Corp., Greenwich, Conn., said it has named Sandra C. Nelson president of its Monitor Liability Managers, LLC commercial unit.