W. R. Berkley Corporation Reports Third Quarter Results

W. R. Berkley Corporation (NYSE: WRB) today reported net income for the third quarter of 2012 of $101 million, or 71 cents per share, compared with $76 million, or 53 cents per share, for the third quarter of 2011.

Summary Financial Data

(Amounts in thousands, except per share data)
2012   2011   2012   2011
 
Gross premiums written $ 1,494,724 $ 1,306,300 $ 4,327,170 $ 3,821,434
Net premiums written 1,275,887 1,126,139 3,670,404 3,266,857
 
Net income 100,947 76,410 345,103 274,184
Net income per diluted share 0.71 0.53 2.41 1.87
 
Operating income (1) 86,136 62,626 283,360 227,274
Operating income per diluted share 0.61 0.43 1.98 1.55

(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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