W. R. Berkley Corporation Reports Fourth Quarter Results

W. R. Berkley Corporation (NYSE: WRB) today reported net income for the fourth quarter of 2012 of $165 million, or $1.17 per share, compared with $117 million, or 82 cents per share, for the fourth quarter of 2011.

Summary Financial Data

(Amounts in thousands, except per share data)
 

 
Fourth Quarter   Full Year
2012   2011 2012   2011
 
Gross premiums written $ 1,452,709 $ 1,255,879 $ 5,779,879 $ 5,077,313
Net premiums written 1,228,135 1,090,511 4,898,539 4,357,368
 
Net income 165,489 117,027 510,592 391,211
Net income per diluted share 1.17 0.82 3.56 2.69
 
Operating income (1) 90,430 82,290 373,790 309,564
Operating income per diluted share 0.64 0.58 2.61 2.13

(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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