W. R. Berkley Corporation announced that it has agreed in principle to purchase the 20 percent minority interest in W. R. Berkley Insurance (Europe), Limited held by Kiln Ltd. for approximately $50.1 million (£24.5 million), subject to the approval of Kiln’s shareholders and regulatory approvals, if necessary.
When the transaction is completed, which is expected in late 2007 or early 2008, W. R. Berkley Corporation will own 100 percent of Berkley Europe.
“Berkley Europe is a London-based specialty casualty insurer with branch offices in Spain (Madrid and Barcelona) and Sydney, Australia,” the bulletin noted. “It was formed in 2003 and its products include professional indemnity, directors’ and officers’ liability, medical malpractice, general liability, personal accident and travel.”
Source: W. R. Berkley Corporation – www.wrbc.com
Topics Europe
Was this article valuable?
Here are more articles you may enjoy.
Father and Son Charged With Running ‘Chop-Shop,’ Selling Stolen Cars, Insurance Fraud 
World’s Largest Retirement Community Set to Borrow $180 Million for More Homes 
AM Best: Social Inflation Drives Surge in Commercial Auto Liability Claims 
Yellow Furball Mascot Liberty Biberty Sparks ‘Beautiful’ Protest. Seriously? 
