US property & casualty insurer WR Berkley has enjoyed a strong second quarter, with premiums increasing by 46%.
Delivering an upbeat assessment of the market, the insurer said it expects the hard market to continue for some time.
Gross written premiums totalled $1 billion (£620m) in the second quarter up from $729m (£452m) in the second quarter of 2002.
William Berkley, chairman and chief executive said: "We continue to have the ability to raise prices. Given the low inflation environment, even modest price increases can significantly increase our return on equity.
"We do not foresee a return to the intense price competition of the late 1990s any time soon, given the current low-interest rate environment and the challenges faced by many companies in the industry. We remain confident in our prospects and expect that quarterly results will continue to improve."
