W. R. Berkley Corp. said it has combined its U.S. broker market reinsurance units, Berkley Re America and Facultative ReSources, into a single operating unit that will trade under the Berkley Re America (BRAM) name.
Berkley Re America is a specialty treaty reinsurance underwriter for insurance companies, or units within insurance companies, that have a business model built upon specialization in the products they underwrite.
Facultative ReSources is a casualty, professional liability and property facultative underwriter.
The newly constituted BRAM will provide a single market for reinsurance brokers to address the needs of these clients.
Jonathan A. Schriber has been named chief underwriting officer of the Reinsurance – Global segment. In this role, he will be responsible for the coordination of reinsurance underwriting activities across the group and the build-out of additional products with global scope, and will support the geographic expansion of the reinsurance operations.
Schriber most recently served as president of Berkley Re America has been named chairman. He joined BRAM in 2007 as executive vice president and chief administrative officer and has 20 years of experience in the property/casualty reinsurance industry.
Joseph L. Sullivan has been named president of BRAM. Sullivan has 20 years of experience in casualty insurance and reinsurance, with a particular emphasis on the casualty market. He joined Facultative ReSources in 2010 as executive vice president and chief operating officer, and was named president in 2012. He had previously held senior management positions with a number of reinsurance companies.
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