W.R. Berkley Corp. News

W. R. Berkley Corp. Launches Special Purpose Reinsurer in Bermuda

W. R. Berkley Corp. announced the formation of Lifson Re Ltd., a special purpose reinsurer registered in Bermuda and licensed by the Bermuda Monetary Authority. Lifson Re has been capitalized with more than $250 million of equity from a small …

W.R. Berkley Estimates $85 Million in Q2 COVID Catastrophe Losses

W.R. Berkley Corp. cautioned that its 2020 second quarter pretax catastrophe losses will reach $145 million, with more than half of that coming from COVID-19 related costs. Out of that total, $85 million stems from COVID-19 claims, the specialty insurer …

BerkleyMed and Berkley Healthcare Merged Into One

W.R. Berkley Corp. said it has combined two of its healthcare-focused operating units in a bid to strength how it offers their products to customers. BerkleyMed and Berkley Healthcare are now blended into a single operating unit with the Berkley …

W.R. Berkley Names Barraclough CEO at Public Entity; Fletcher as President at Admiral

W. R. Berkley Corp. has announced that Scott R. Barraclough is the new chief executive officer of its Berkley Public Entity and Curtis E. Fletcher has succeeded Barraclough as president of Admiral Insurance, another Berkley company. Barraclough most recently served …

W.R. Berkley Q3 Profit Holds Steady

W.R. Berkley Corp.’s third quarter featured flat net income but also higher premiums and soaring investment income. The Connecticut-based insurer and reinsurer said it generated $162 million in net income during the 2018 third quarter, on par with the 2017 …

W.R. Berkley Names Gilbert as Executive VP, Douglas as President of BerkleyNet

W. R. Berkley Corp. has named James B. Gilbert as an executive vice president with oversight responsibility for certain of the company’s operating units. Brian P. Douglas is succeeding Gilbert as president of BerkleyNet Underwriters. Gilbert has 30 years of …

Munich Re Eyes Purchase of London Property, Which Could Become UK HQ: Sources

Munich Re, the world’s largest reinsurer, is in talks to acquire a plot that has approval for one of the tallest towers in the City of London financial district, people with knowledge of the plan said. The insurer is negotiating …

W. R. Berkley Corp. to Invest in Iowa’s Global Insurance Accelerator, Join Board

The Global Insurance Accelerator (GIA), based in Des Moines, Iowa, announced that W. R. Berkley Corp. (W. R. Berkley), will join the GIA board of directors through a commitment to be an investor. Founded in 1967 and based in Greenwich, …

California’s Enforcement against W.R. Berkley Ends in $12M Settlement

California Insurance Commissioner Dave Jones today announced that the enforcement action taken against W.R. Berkley Corp. entities and operating units has resulted in a $12 million settlement. Admiral Insurance Co., Admiral Risk Insurance Services Inc. nka BXM Insurance Services Inc., …

Berkley Re Direct’s Douglas Expands Responsibilities to Berkley Program Specialists

W. R. Berkley Corp. said that Gregory A. Douglas, president of Berkley Re Direct, has assumed the additional responsibility of president of Berkley Program Specialists. Douglas joined W. R. Berkley Corp. as executive vice president and chief operating officer of …