GREENWICH, Conn.—W.R. Berkley Corp.’s profits soared to $229 million for the first half of 2010, up from $77 million for the same period last year, the company reported Monday.

The Greenwich Conn.-based specialty insurer and reinsurer said the gains were largely due to growth in new business units, where the company is “particularly cognizant of assuring adequate pricing.”

Net premiums written for the first half of 2010 were $1.95 billion, up from $1.93 billion during the prior-year period. During the second quarter, net premiums for the company’s international segment increased 33% to $237 million.

Also contributing to the gain was a net investment gain of $17.4 million in the first half of 2010, compared with a net investment loss of $63 million during the prior-year period.

First-half catastrophe losses totaled $53 million, compared with $36 million during the same period last year, the company said. The company posted a combined ratio of 94.2% compared with 94.6% during the prior-year period.

“Our new enterprises continue to gain traction, and their growth led to an increase in overall premiums for the first time in 15 quarters,” said William R. Berkley, chairman and CEO, in a statement. In addition, Mr. Berkley said “there are a growing number of signs of a coming turn in the cycle, as prices are beginning to stabilize in most areas.”