WR Berkley

WR Berkley reports 9% Q4 rate increases

WR Berkey has reported average rate increases excluding workers compensation of 9 percent for the fourth quarter along with operating profits that were in line with Wall Street forecasts.

WR Berkley renews $600mn of cat limit through Tremor

WR Berkely has priced and placed $600mn of capacity for its 2020 property catastrophe renewal via insurtech Tremor’s risk trading and auction platform.

Social inflation the early story of US Q3 reporting season

The impact of social inflation on the US property casualty industry has been the hot topic of results season so far, with Travelers’ CEO bemoaning the “broken tort system” and WR Berkley’s CEO comparing it to the med mal crisis in the early 2000s.

WR Berkley “very comfortable” with reserves: CEO

WR Berkley has reported strong growth in premiums in the third quarter driven by accelerating rate increases, as CEO Rob Berkley countered recent analyst commentary by saying the carrier is “very comfortable” with its reserves.

The curious incident of the WR Berkley loss pick

In many ways, we’ve been here before. Valuation multiples generally extended, P&C companies seeking notable price increases, a significant decline in 10-year US Treasury yields, and material underperformance in financials more broadly… yes, you’ve guessed it: the 2019 property casualty landscape bears a striking resemblance to that of 2011.

Deutsche analysts highlight WR Berkley’s “aggressive” loss picks

Analysts at Deutsche Bank are sceptical of the US P&C pricing increases of the past two years, suggesting for example that the negative pricing trend from 2015 to 2018 does not seem to be recorded in WR Berkley’s loss picks.

WR Berkley promotes LeBlanc to president of Acacia unit

David LeBlanc has been named president of WR Berkley subsidiary Acadia Insurance, succeeding Douglas Nelson, who has been appointed chairman.

Pace of hardening accelerating as industry reacts to pain: Berkley

WR Berkley has revealed its average rate increases excluding workers compensation in the second quarter were more than 5 percent, with its CEO saying on an earnings call that the pace of change is accelerating.

WR Berkley launches commercial auto unit led by former AIG exec

US insurer WR Berkley has formed Berkley Prime Transportation, with former AIG executive Jeanne Fenster as president of the new division.

WR Berkley names president of professional lines unit

WR Berkley has continued its series of subsidiary management changes with the appointment of insurance managing consultant Daniel Spragg as president of Berkley Select, effective immediately.

WR Berkley leads insurtech Sure’s $12.5mn funding round

US insurtech Sure has raised $12.5mn in a Series B funding round led by WR Berkley, bringing its total funding to $23.1mn.

WR Berkley names ex-Argo US casualty leader as Verus president

Marlo Edwards has been named president of WR Berkley subsidiary Verus Underwriting Managers, succeeding Dale Pilkington, who the company said is retiring.

WR Berkley shares up 3% on pricing momentum and beat

Shares in US specialty insurer WR Berkley reacted positively this morning after a first quarter earnings beat and bullish commentary on commercial insurance pricing that adds further weight to the theory that the market is in the early stages of a meaningful transition.

WR Berkley Lloyd’s co-director of underwriting Campbell exits

GC’s McBurney leaves for ceded re role at Berkley

Scott McBurney has left Guy Carpenter to join WR Berkley in the specialty insurer’s ceded reinsurance department, The Insurer can reveal.

Berkley beats and gives bullish rates outlook

US specialty insurer WR Berkley delivered a comfortable earnings beat for the fourth quarter and offered a bullish assessment on pricing.

WR Berkley takes Chubb’s North America CUO Maloney and shuffles senior management

WR Berkley has swooped on Chubb for Michael Maloney as it appoints new executives.

Starr continues aviation expansion drive with Brazil operation

Starr Insurance Companies’ Brazilian subsidiary has been granted a local license to offer aviation insurance.

WR Berkley beats forecast, takes $39mn nat cat hit

US carrier WR Berkley has posted revenues of $1.94bn for the quarter ended September 2018, surpassing market expectations and beating predictions with net income totalling $1.26 per share.