Oct 20 (Reuters) - Commercial insurer W. R. Berkley ( WRB )

reported a rise in third-quarter profit on Monday,

boosted by robust investment gains and steady underwriting

performance.

Resilient consumer spending despite higher borrowing costs

has helped sustain insurance demand, as businesses and

households continue to prioritize protection against financial

risks, accidents, property damage, and natural disasters.

The Greenwich, Connecticut-based insurer's net written

premiums rose 5.5% to $3.23 billion in the quarter.

Net investment income rose 8.5% to a $351.2 million in the

third quarter, largely driven by higher returns from the

insurer's growing domestic fixed maturity portfolio.

Last week, industry bellwether Travelers missed Wall

Street profit estimates, citing slower commercial property

growth.

W.R. Berkley's quarterly catastrophe losses fell nearly 25%

to $78.5 million from a year earlier.

The company reported a combined ratio of 90.9%, unchanged

from 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 severe natural disasters, including

hurricanes, floods, and wildfires.

W. R. Berkley ( WRB ) reported a profit attributable to common

stockholders of $511 million, or $1.28 per share, for the

quarter ended September 30. That compares with $365.6 million,

or 91 cents per share, last year.