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W. R. Berkley Corporation Reports Second Quarter Results

W. R. Berkley Corporation (NYSE: WRB) today reported net income for the second quarter of 2012 of $109 million, or 76 cents per share, compared with $82 million, or 56 cents per share, for the second quarter of 2011.

Summary Financial Data

(Amounts in thousands, except per share data)

Second Quarter Six Months
2012   2011 2012   2011
Gross premiums written $ 1,430,920 $ 1,245,276 $ 2,832,446 $ 2,515,134
Net premiums written 1,190,991 1,057,415 2,394,517 2,140,718
Net income 108,838 82,184 244,156 197,774
Net income per diluted share 0.76 0.56 1.70 1.34
Operating income (1) 92,988 67,848 197,224 164,648
Operating income per diluted share 0.65 0.46 1.37 1.12

(1) Operating income is a non-GAAP financial measure defined by the Company as net income excluding net investment gains and losses.

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