W. R. Berkley second-quarter profit rises on strong underwriting

(Reuters) -Commercial insurer W. R. Berkley reported a rise in second-quarter profit on Monday, boosted by robust investment gains and steady underwriting performance.

The earnings underscore investor preference for companies shielded from tariff-related risks amid persistent uncertainty over U.S. President Donald Trump's trade policy.

The Greenwich, Connecticut-based insurer's net written premiums rose 7.2% to a record $3.35 billion in the quarter, as businesses and individuals continued to invest in insurance coverage to guard against risks despite a period of economic uncertainty.

Net investment income rose 1.9% to a record $379.3 million in the second quarter, largely driven by higher returns from its growing domestic fixed maturity portfolio.

Last week, industry bellwether Travelers reported better-than-expected quarterly profit on stronger underwriting.

The company's quarterly catastrophe losses surged more than 10.7% to $99.2 million from $89.7 million a year earlier.

The company reported a combined ratio of 91.6%, compared to 91.1% a year earlier. A ratio below 100% shows that an insurer earned more in premiums than it paid out in claims.

In recent years, insurers have faced heavy losses from increasingly frequent and destructive natural disasters, including hurricanes, floods and wildfires.

For the three months ended June 30, W. R. Berkley reported a profit for common stockholders amounting to $401.3 million, or $1 per share, a rise from $371.9 million, or 92 cents per share, last year.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Alan Barona)

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