NU Online News Service, April 29, 9:00 a.m.

William R. Berkley, chief executive officer of the W.R. Berkley Corp. specialty lines insurance organization, said the market is turning faster than previously expected, but the initial upward rate hikes will likely be lower than past hard markets.

Mr. Berkley made his positive comments about the market during a conference call even as his firm reported a first-quarter net loss of $20.3 million, or 13 cents per share.

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