BRIEF: Hurricane, typhoon hit Greenwich insurer for $39M

Oct. 24--Insurance carrier W.R. Berkley estimates at $39 million the catastrophic claims it is paying out as a result of Hurricane Florence, a Japan typhoon and smaller storms between July and September.

W.R. Berkley is among the larger corporate employers in Greenwich where it is based, with the company offering specialty lines of property and casualty insurance as well as reinsurance secured by other carriers as a hedge against events that trigger overwhelming claims.

Third quarter profits were down slightly for W.R. Berkley to just under $162 million, with the company benefiting from a 31 percent year-over-year gain in net investment income. Net premiums to underwrite insurance policies were up 3 percent to $1.6 billion.

Alex.Soule@scni.com; 203-842-2545; @casoulman

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