W. R. Berkley Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - W. R. Berkley Corporation (WRB) reported fourth-quarter net income to shareholders of $130.38 million or $0.93 per share, compared to $165.49 million or $1.17 per share, last year. Operating income was $119.24 million or $0.85 per share, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.77 for the quarter. Analysts' estimates typically exclude special items.

Net premiums written were $1.36 billion, compared to $1.23 billion, prior year. Net premiums earned was $1.38 billion, compared to $1.24 billion, a year ago. Total revenues increased year-over-year to $1.70 billion, from $1.61 billion. Analysts expected revenue of $1.62 billion for the quarter.

"Looking ahead, we expect profitability to improve further without giving consideration to unusual catastrophe activity over the next several years. And while there is new competition, a similar number of players have disappeared from the marketplace. We are confident that 2014 will be an excellent year," William Berkley, chairman and CEO, said.