W.R. Berkley: 4Q Earnings Snapshot
GREENWICH, Conn. (AP) _ W.R. Berkley Corp. (WRB) on Tuesday reported fourth-quarter profit of $312.2 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of $1.67. Earnings, adjusted for investment gains, came to 92 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The insurance company posted revenue of $2.31 billion in the period. Its adjusted revenue was $2.15 billion.
For the year, the company reported profit of $530.7 million, or $2.81 per share. Revenue was reported as $8 billion.
W.R. Berkley shares have dropped 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $64.95, a decrease of slightly more than 9% in the last 12 months.