W.R. Berkley Corporation reported today that fourth-quarter 2005 net income increased 44 percent compared to the same period in 2004.
For the fourth quarter of last year the company reported $167 million compared with $116 million for fourth-quarter 2004.
Net income for the full year was reported at $545 million compared with $438 million for 2004.
The 2005 combined ratio improved to 89.3 from 90.4 in 2004. Return on equity was 25.8 percent for 2005.
The company started four new units last year including Berkley Aviation and Berkley Net Underwriters, LLC, and also expanded operations in Spain, Brazil and Hong Kong.
Chairman William Berkley said, "The current environment is rationally competitive and satisfactory returns are available in most of our lines of business."
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