W. R. Berkley Corporation Reports First Quarter Results

W. R. Berkley Corporation (NYSE: WRB) today reported net income for the first quarter of 2012 of $135 million, or 94 cents per share, compared with $116 million, or 78 cents per share, for the first quarter of 2011.

Summary Financial Data

(Amounts in thousands, except per share data)
 
First Quarter
2012   2011
 
Gross premiums written $ 1,401,526 $ 1,269,858
Net premiums written 1,203,526 1,083,303
 
Net income 135,318 115,590
Net income per diluted share 0.94 0.78
 
Operating income (1) 104,236 96,800
Operating income per diluted share 0.73 0.66

(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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