Insurer W R Berkley's profit jumps on robust underwriting, investment returns

- Commercial insurer W R Berkley said on Tuesday its first-quarter profit rose 50% due to strong returns from its investments and a stronger underwriting performance.

Greenwich, Connecticut-based W R Berkley's net investment income jumped 43% to $319.8 million in the first quarter, and net premiums written grew nearly 11%, as businesses revived spending on insurance policies due to easing concerns of a recession. Shares of the company rose marginally before the bell. As of Monday's close, they had risen 18% this year.

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