Reinsurance News
W. R. Berkley
W. R. Berkley and subsidiaries credit ratings revised to positive by AM Best
7th June 2024
AM Best has revised outlooks to positive for W.R. Berkley Corporation and its subsidiaries, which reflects its strong balance sheet and operating performance. The Long-Term Issuer Credit Rating (Long-Term ICR) and Long-Term Issue Ratings (Long-Term IRs) of W. R. Berkley Corporation have been affirmed to positive from stable, as well as ... Read the full article
W. R. Berkley CEO optimistic on re/insurance property amid price peaks
29th April 2024
During the Q1 2024 earnings call, W. Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation, notes that despite property cat reaching peak prices, there remains profit potential, particularly in the reinsurance property sector. Berkley underscores, “just because pricing has peaked, that doesn't mean there's not still a good ... Read the full article
W. R. Berkley reports Q1’24 combined ratio of 88.8% as underwriting income rises
23rd April 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q1 2024 combined ratio of 88.8%, including current accident year catastrophe losses of $30.5 million, leading to a 31.8% rise in pre-tax underwriting income to $309 million. The insurer’s gross premiums written (GWP) were $3.4 billion for Q1 2024, compared ... Read the full article
W. R. Berkley rebrands Union Standard to Berkley Southwest
2nd April 2024
W. R. Berkley Corporation has announced that its Union Standard Insurance Group is rebranding to Berkley Southwest to better reflect its commitment to serving the needs of clients and partners in the U.S. Southwest. Berkley Southwest, led by president, John Henle, will continue to offer high-quality, customised insurance products, thoughtful risk ... Read the full article
Re/insurers to see pricing momentum within casualty lines in 2024: W. R. Berkley CEO
26th January 2024
The re/insurance industry is to see broad-based pricing momentum within casualty lines in 2024, mainly driven by social inflation, according to Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation. In addition to social inflation, the reinsurance marketplace, across the board and particularly on the treaty side, is starting ... Read the full article
W. R. Berkley announces record Q4 and full year 2023 underwriting income
25th January 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q4 2023 combined ratio of 88.4%, including current accident year catastrophe losses of $32 million, as the company's pre-tax underwriting income grew more than 8% to a record $315.9 million. The firm achieved a record-setting year in 2023, achieving a ... Read the full article
W.R. Berkley strengthens Berkley Entertainment unit
22nd December 2023
W.R. Berkley Corporation has appointed Mark Schuermann as the President of Berkley Entertainment, a Berkley subsidiary. He succeeds Cindy Broschart, who has been named Chair of the business. Both appointments are effective immediately. Berkley Entertainment is a provider of property and casualty insurance products. W. Robert Berkley, Jr., President and Chief Executive ... Read the full article
W. R. Berkley appoints J. Daniel Asahl as President of Continental Western Group
15th December 2023
Insurance holding company W. R. Berkley Corporation has appointed J. Daniel Asahl as the President of Continental Western Group (CWG), a Berkley insurance subsidiary, effective immediately. Asahl succeeds Melodee Saunders, who was named Interim President of CWG in early 2023. She served as President of Midwest Employers Casualty from 2001 to 2013 ... Read the full article
W. R. Berkley names Khan president of Preferred Employers Insurance
12th December 2023
W. R. Berkley Corporation has appointed S. Akbar Khan as president of Preferred Employers Insurance, a specialty provider of workers’ compensation insurance exclusively for California employers. Berkley describes Khan as an accomplished property and casualty insurance executive with more than two decades of industry experience. His extensive leadership knowledge reportedly spans ... Read the full article
Christopher H. Balch named President of Berkley Technology Underwriters
14th November 2023
W. R. Berkley Corporation has appointed Christopher H. Balch as president of Berkley Technology Underwriters, succeeding Matthew A. Mueller, who has been named chairman of the business. Balch joins Berkley Technology Underwriters with almost two decades of experience in the property and casualty insurance industry. Berkley noted that his prior experience ... Read the full article
W. R. Berkley Corporation sees net income increase 45.7% to $334m in Q3
24th October 2023
W. R. Berkley Corporation has reported that Q3 underwriting income and net income grew 34.7% and 45.7% to $258.7 million and $333.6 million, respectively, while net investment income in the quarter stood at $270.9 million, driven by a 59.3% increase in the core portfolio. The firm also disclosed a Q3 operating ... Read the full article
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
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