Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase. The Greenwich, Connecticut-based commercial insurer finished …
A trio of property/casualty carrier executives voluntarily offered their views on a growing insurance availability crisis in a state like California at an industry conference last week, pointing to regulatory disconnects and political issues as drivers. “I have real question …
While the days of cash flow underwriting are a distant memory for veteran insurance executives, the need for industry’s more recent “preoccupation” with underwriting profit is starting to subside, two specialty carrier leaders suggested yesterday. Speaking at the Keefe Bruyette …
Great American Promotes Mulvey to Divisional President Great American Insurance Group recently announced the promotion of Michael B. Mulvey to divisional president within its FCIA, the division that underwrites trade credit and political risk Mulvey joined FCIA in 2012 as …
A workers’ compensation insurer must pay $100,000 under an agreement with Vermont state regulators because its claims administrator gave short shrift to claims for post-traumatic stress disorder and other occupational diseases. Acadia Insurance Co. on April 18 reached an agreement …
While investment analysts continue to track commercial insurance rate hikes for property/casualty insurance carriers, exposure growth was an important contributor to a top-line record for the first quarter at W.R. Berkley Corp., the specialty carrier’s CEO said. Speaking on an …
W.R. Berkley Corp. reported record quarterly underwriting income, double-digit premium growth and healthy rate increases in the first quarter. The commercial lines insurer and reinsurer also saw its net income soar to $229.5 million, or $1.23 per diluted share, compared …
W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed to rate hikes, bigger investment returns and ongoing underwriting discipline. Fourth-quarter net income reached nearly $312.2 million, or $1.67 per …
W.R. Berkley Corp. sold off one of its real estate investments – a New York City office complex – at the end of 2020. The sale generated a $105 million pre-tax net gain, according to the commercial lines specialty insurer …
For W.R. Berkley Corp. and most other workers’ compensation carriers, rates have declined for some time. That trend could start reversing itself starting in 2021, CEO W. Robert Berkley Jr. predicted recently. “I would not be surprised as we make …
