W.R. Berkley Corp. Notes Quarterly Earnings Increase

July 26, 2002

W.R. Berkley Corp. reported its quarterly earnings grew, driven by greater policy rates.

The company noted its second-quarter net income rose to $27.4 million, or 52 cents a share, compared with $9.6 million, or 21 cents a share, in 2001.

Excluding one-time items and changes in the value of its investments, its earnings grew to 66 cents a share, compared with 38 cents a year earlier. On this basis, analysts on average forecasted earnings of 63 cents a share for the quarter, with their estimates ranging from 47 cents to 73 cents.

The company also reported that premiums written rose 54 percent to $708 million. It said rates will continue to be higher into at least 2003, which will lead to improved results.

Was this article valuable?

Here are more articles you may enjoy.