W.R. Berkley Corp. News

W.R. Berkley Posts $116M Q1 Profit, Sees Continuing Pricing Momentum

W.R. Berkley Corp. reported on Tuesday $116.62 million net income for its 2013 first quarter, representing a 13.6 percent decline compared to $135.32 million income reported during the first quarter of 2012. Net premiums written and the combined ratio both …

W.R. Berkley Corp. Divests, Connecticut Bank Acquires InsurBanc

InsurBanc — a federal savings bank founded by the Independent Insurance Agents & Brokers of America and W.R. Berkley Corp. a dozen years ago — has joined Connecticut Community Bank N.A., based in Westport, Conn., effective April 1. Under the …

W.R. Berkley Forms Fire, Marine Underwriting Unit; Geary to Head

W. R. Berkley Corp. has lainched a new underwriting unit, Berkley Fire & Marine Underwriters. Headquartered in Chicago, Berkley Fire & Marine will focus on inland marine and related property risks regionally and nationwide, according to the company, and its …

FinSecure Promotes Martin to Assistant VP

FinSecure, a member company of W. R. Berkley Corp., announced that Jon Martin has been promoted to assistant vice president focused on servicing the insurance needs of credit unions. He is based in La Porte, Ind., according to a company …

W.R. Berkley’s 2012 Q4 Profit Up 41%; $40M in Sandy Loss Reported

W.R. Berkley Corp. said its 2012 fourth quarter net profit was $165.49 million, up 41.4 percent compared to the same period in 2011 when it had $117.03 million profit. For the full-year 2012, the Greenwich, Conn.-based commercial lines insurer reported …

W. R. Berkley Names Steen President of Berkley Canada

W. R. Berkley Corporation announced that Andrew Steen has been named president of Berkley Canada, effective January 7, 2013. The bulletin noted that Steen “has more than 20 years of experience in the property casualty insurance industry in Canada. He …

W.R. Berkley Estimates $40-$50 Million Net Loss From Sandy

W.R. Berkley Corp. announced it expects catastrophe losses attributable to Superstorm Sandy will be between $40 million and $50 million, before tax. The Greenwich, Conn.-based insurer said Thursday its loss estimate gives consideration to all currently available reinsurance and is …

W.R. Berkley Names President of FinSecure Unit in Baltimore

Greenwich, Conn.-headquartered W.R. Berkley Corp. announced Michael P. Dandini has been named president of the company’s FinSecure LLC unit. Dandini has nearly 20 years of experience in the property/casualty insurance industry. He served most recently as senior vice president of …

Arthur J. Gallagher CEO: This Rate Environment Unusual but Better

Speaking at a recent conference, brokerage Arthur J. Gallagher’s CEO J. Patrick Gallagher described how different today’s commercial insurance rate environment feels, even to an industry veteran like himself. And he said this cycle is much better for insurance clients. …