Reinsurance News

W. R. Berkley

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

W. R. Berkley reports twofold income growth for 2021

28th January 2022

Re/insurance holding company W. R. Berkley Corporation has reported a nearly twofold increase in net income over 2021, which totaled $1.02 billion for the year, compared with $530.7 million in 2020. Operating income for the year similarly more than double from $438.3 million to $951.9 million. For the Q4 period, net income ... Read the full article

W/R/B Underwriting hires Jaymin Patel as Senior Construction Underwriter

13th December 2021

W/R/B Underwriting, a W. R. Berkley-syndicate, has appointed Jaymin Patel as Senior Construction Underwriter. Patel brings a strong background in both Underwriting and Broking, and will further bolster the capabilities of the team. He joins from Alesco Risk Management Services where he was partner for just over two years. In that position, he ... Read the full article

James Hastings to join WR Berkley Syndicate Mgmt as President

10th December 2021

W. R. Berkley has announced the appointment of James Hastings as president of its Syndicate Management subsidiary, a role that's expected to dovetail into Chief Executive Officer upon the departure of David Bronsen in early 2022. Brosnan will remain on the Board of Directors of the Managing Agency following the transition. Hastings ... Read the full article

W. R. Berkley names Henle as President of Union Standard

9th November 2021

W. R. Berkley Corporation has announced the appointment of John Henle as President of Union Standard Insurance Group (Union Standard), effective immediately. He succeeds B. Keith Mitchell, who has transitioned into a new role as Chairman of Union Standard. Henle joins Union Standard with more than 20 years of multi-line insurance experience, ... Read the full article

Daniel Smyrl named president of Admiral Insurance Group

29th October 2021

W. R. Berkley Corporation has appointed Daniel Smyrl as president of Admiral Insurance Group. He succeeds Curtis Fletcher, who has been named chairman of Admiral. Smyrl joined Admiral in 2002 and most recently served as executive vice president of underwriting. He has nearly 40 years of commercial property and casualty insurance experience in ... Read the full article