W.R. Berkley Net Income down 46%

W.R. Berkeley reported net income of $123 million for the second quarter, a 46% decline from the $180 million in profits reported for the second quarter of 2014. Gross premiums written during the quarter increased slightly to $1.81 billion from $1.77 billion in the prior-year quarter. Total revenues were $1.79 billion, down slightly from $180 billion in the same period last year. The carrier reported a combined loss ratio of 93.1% during the quarter, down from 93.2% in the prior-year quarter. "We are well positioned with a strong track record of capitalizing upon opportunities in the m...