WR Berkley Insurance has achieved net income for the third quarter of the year of $US94 million ($96 million), compared with $98 million this time last year.

Operating income was $US103 million ($105 million) compared with $US112 million ($115 million) in 2009.

Net premiums written were up by 2% and book value per share increased 6% to $US26.36. The company’s operating return on equity was 11.4%.

CEO Bill Berkley says business is “more than satisfactory”.

“In spite of substantial weather-related losses, our combined ratio was in line with our expectations,” he said.

Mr Berkley says he expects to see modest grow this year and more significant growth next year.

“We anticipate an improving return from this point forward, and we remain optimistic about the direction of our business for the foreseeable future.”