W.R. Berkley News

More Insurers Disclosing Climate Change Risks, Report Shows

Insurers in the U.S. are increasingly willing to disclose their risk management practices related to climate change, and that in part may be attributable to last year’s global accord in Paris and shifting attitudes in the business world on the …

W.R. Berkley Names Lowery as Chief Information Officer

W. R. Berkley Corp. has appointed Richard M. Lowery as senior vice president and chief information officer. In this role, Lowery will be responsible for the development and implementation of strategic information technology solutions. He will report to Lucille T. Sgaglione, …

W.R. Berkley Taps Morgan Stanley’s Abbey for Strategy Post

W.R. Berkley Corp., the Greenwich, Connecticut-based commercial insurer, named former Morgan Stanley investment banker Jared Abbey as senior vice president for corporate strategy and development. Abbey previously worked as a banker focusing on mergers and acquisitions, corporate restructurings and capital-raising …

RLI’s Dunn Named Carolina Casualty CEO

W. R. Berkley Corp. has appointed David A. Dunn as president and chief executive officer of its trucking insurance specialist, Carolina Casualty. Dunn has 40 years of experience in the property/casualty insurance industry, principally in the specialty transportation segment. Most …

13 Specialty Insurers Emerging As Takeover Targets: S&P

Standard & Poor’s sees a number of specialty insurers as potential takeover targets by both rival carriers and investors seeking to expand in the segment, thanks to stellar operating performance versus the P/C industry as a whole. The ratings entity …

W.R. Berkley Forms Construction Professional Liability Unit; Bustamante to Head

W. R. Berkley Corp. announced the creation of Berkley Construction Professional Liability Underwriters to provide professional liability, pollution liability and protective coverages for contractors and project owners across all forms of non-environmental construction. Products will be available on both a …

W.R. Berkley Reports Q4 Premium Growth, Net Income Drop

W.R. Berkley Corp. reported a stellar fourth-quarter in terms of premium growth, but net income dipped at year-end due in part to investment return challenges. Berkley’s 2014 Q4 net income is booked at $110.7 million ($0.83 per diluted share), versus …

W. R. Berkley Names McPherson as VP in Predictive Modeling Unit

W. R. Berkley Corp. announced the appointment of Robert L. McPherson as vice president. The appointment is effective immediately. He will lead the corporate team responsible for providing technical expertise and advice in designing and implementing predictive modeling at the …

Berkley FinSecure Forms Berkley Crime Unit

Berkley FinSecure, a W .R. Berkley company based in Towson, Md., has launched Berkley Crime, an operating unit focused solely on offering  crime-related insurance products. The crime underwriting team of Berkley FinSecure, which was originally established in 2008 as part …

W.R. Berkley Posts Q1 Gains But Cites ‘Painfully Competitive’ Reinsurance

For W.R. Berkley Corp., sobering results from its global reinsurance division were a blemish on an otherwise successful 2014 first quarter, during which the Greenwich, Conn.-based company enjoyed overall gains in net income, gross premiums written and returns on equity. …