Reinsurance News
W. R. Berkley
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
W. R. Berkley reports $2.3bn of NPW in Q3
22nd October 2021
Re/insurance holding company W. R. Berkley corporation reported its net premiums written (NPW) increased by 23.7% in Q3, at $2.3 billion compared to $1.8 billion for the same prior year period. Helping its net premium increase was their reinsurance segment, with casualty reinsurance NPW increasing to $194 million whilst its property ... Read the full article
Glen Riddell promoted to lead both Berkley Re Asia & Australia
26th July 2021
Re/insurance holding company W.R Berkley has appointed Glen Riddell to lead its Berkley Re operations in Australia as Chief Executive Officer, alongside his exisiting role as CEO of Berkley Re Asia. He enters the role in the new year, at which point he'll succeed Tony Piper, who will transition into the role of chairman of ... Read the full article