WR Berkley profit falls 63% as premium income slides
US commercial insurer WR Berkley has reported net profit of $US281 million ($427 million) as falling premium revenue contributed to a 63% dip in earnings.
The company wrote $US888 million ($1.35 billion) of net premium during the fourth quarter, well down on the $US1.05 billion ($1.61 billion) it earned in the previous corresponding period.
Net written premium fell more than $US500 million ($760 million) during the year with total earnings of $US4.03 billion ($6.13 billion).
The company wrote $US888 million ($1.35 billion) of net premium during the fourth quarter, well down on the $US1.05 billion ($1.61 billion) it earned in the previous corresponding period.
Net written premium fell more than $US500 million ($760 million) during the year with total earnings of $US4.03 billion ($6.13 billion).