GREENWICH, Conn. (AP) _ W.R. Berkley Corp. (WRB) on Tuesday reported third-quarter earnings of $165.2 million.
The Greenwich, Connecticut-based company said it had profit of 85 cents per share. Earnings, adjusted for investment gains, were 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The insurance company posted revenue of $1.97 billion in the period. Its adjusted revenue was $1.96 billion.
W.R. Berkley shares have increased 38% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $67.85, an increase of 39% in the last 12 months.