W. R. Berkley Corp. earned $119 million in the first quarter as the Greenwich property-casualty underwriter’s profitable operations offset a loss from a year earlier.
Berkley reported net income of 74 cents per share in the three months ended March 31, compared with a loss of $20 million, or 13 cents a share, in the first quarter of 2009.
Chairman William R. Berkley said the insurer “was able to selectively increase prices, although the overall insurance market momentum has not yet turned positive.”
