Reinsurance News
W. R. Berkley
W. R. Berkley Corporation names Forte President of Berkley Public Entity
29th September 2023
W. R. Berkley Corporation has announced the appointment of John J. Forte as President of Berkley Public Entity. Berkley Public Entity is a provider of casualty insurance and reinsurance solutions for municipalities, counties, school districts, special public districts, public utilities and risk-sharing groups. Forte, who joined Berkley Public Entity as Senior Vice ... Read the full article
W. R. Berkley appoints Lee Iannarone as SVP and General Counsel
16th August 2023
Property & casualty insurance holding company, W. R. Berkley Corporation, has announced the appointment of Lee Iannarone as Senior Vice President (SVP) and General Counsel, effective immediately. Iannarone succeeds and will report to Philip Welt, who will continue to serve as Executive Vice President (EVP) and Secretary. In the role, Iannarone's remit will ... Read the full article
W. R. Berkley Corporation sees net income double to $356.3m in Q2
21st July 2023
W. R. Berkley Corporation has released its Q2 results, reporting that net income doubled to $356.3 million compared to the same quarter last year, with a return on equity and operating return on equity of 21.1% and 18.4%, respectively. The firm has also boasted "record" gross and net premiums written, which ... Read the full article
W. R. Berkley creates Berkley Specialty Excess to focus on environmental and energy industries
1st June 2023
W. R. Berkley Corporation has announced the formation of Berkley Specialty Excess. The subsidiary is created to offer excess liability coverages in specialized markets, with an initial focus on the environmental and energy industries. John Termini has been named President of the new business, effective immediately. W. Robert Berkley, Jr., the President and ... Read the full article
W. R. Berkley appoints new president of Berkley Southeast Insurance
26th April 2023
W. R. Berkley Corporation has announced the appointment of Jay Weber as the new president of Berkley Southeast Insurance Group. Weber succeeds Dennis Barger, who has been named as the chairman of the business. Both appointments are effective immediately. Weber is a market veteran with 30 years of commercial property and casualty ... Read the full article
W.R. Berkley posts record net income for 2022
27th January 2023
Re/insurance holding company W.R Berkley Corporation has reported a net income of $382.2 million for the fourth quarter of 2022, a major increase compared to 2021’s $294.4 million. At the same time, the firm witnessed a record net income of $1.4 billion for the full year, compared to last years $1.0 ... Read the full article
WR Berkley adds Daniel L. Mosley to board of directors
12th December 2022
WR Berkley has said that its board of directors has elected to its midst Daniel L. Mosley. The move, which comes into effect in January, will increase the number of board members to ten and the number of independent directors to eight. The New York-based Mosley serves already on the firm’s executive ... Read the full article
WR Berkley forms new company in Berkley E&S Solutions
27th October 2022
WR Berkley Corporation has formed a new offshoot called Berkley E&S Solutions that will provide surplus lines casualty coverages to middle-market and large accounts through individual wholesale broker appointments. The firm said that Curtis E. Fletcher will be president and CEO, beginning immediately. W. Robert Berkley, Jr., president and chief executive officer ... Read the full article
Fitch upgrades W.R. Berkley’s ratings
26th October 2022
Fitch Ratings has announced that it has upgraded W.R. Berkley Corporation’s property and casualty (P&C) operating subsidiaries Insurer Financial Strength ratings to ‘AA-‘ (Very Strong) from ‘A+’. At the same time, Fitch has also upgraded Berkley’s senior debt rating to ‘A-‘ from ‘BBB+’. The rating outlook is stable. Fitch stated that the ... Read the full article
WR Berkley releases Q3 results, with GWP up over 11%
25th October 2022
WR Berkley has reported its Q3 2022 results, saying that gross written premiums (GWP) in the period were $3bn up from $2.7bn in the same period from the prior year. Net premiums written, said the firm, also rose between the two periods, from $2.3bn in Q3 2021 to $2.5bn. The firm said ... Read the full article
Berkley Re UK appoints Daniel Keshav as Head of Casualty Treaty
4th October 2022
Berkley Re UK, part of W.R. Berkley Corporation, has promoted Daniel Keshav from Deputy Head of Casualty Treaty, a role he held for over three years, to Head of Casualty Treaty. Keshav has over 25 years of experience in the industry. Prior to joining Berkley Re UK in 2019 he spent ... Read the full article
WR Berkley report bump in gross premiums written
22nd July 2022
WR Berkley Corporation is reporting that gross premiums written rose from $2.6bn to over $3bn between Q2 2021 and Q2 2022, according to the company’s latest results. The firm also said that gross premiums written jumped from $5.1bn to $5.9bn between H1 2021 and H1 2022. By its calculations, gross and ... Read the full article
W. R. Berkley launches enterprise risk solutions firm
28th June 2022
W. R. Berkley has announced the formation of Berkley Enterprise Risk Solutions, a new business focusing on providing workers’ compensation insurance to large businesses headquartered in California. Wayne Bryan will lead the new business, and Hale Johnston has been appointed COO. Bryan has worked in workers’ compensation in ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
W.R. Berkley posts record underwriting income
26th April 2022
Re/insurance holding company W. R. Berkley Corporation has posted record underwriting income of $274.4 million for the first quarter of the year. The company’s net income similarly more than doubled from $229.5 million to $590.6 million, while operating income moved from $201.8 million to $306.9 million. During Q1, net premiums written also ... Read the full article
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