WR Berkley
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Forte joined the specialty insurer in early 2018 as public entity SVP, CUO and COO after a spell at AIG based in New Jersey. -
Flows to the E&S market remain strong, executives have said, while dislocation in the property space continues to buoy overall pricing conditions.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Apart from public D&O and workers' comp, the specialty lines insurer is seeing “very strong submission growth”.
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The Inside P&C news team runs you through the earnings results for the day.
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The deal will result in a pre-tax net realized gain of $86mn in the second quarter.
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The new business unit will offer excess liability coverage to specialized markets, starting with environmental and energy industries.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Sources said it is still unclear if the specialty insurer will exit the class permanently or if it will return to the market in the foreseeable future.
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Jay Weber succeeds Dennis Barger, who was appointed as chairman of the business, effective immediately.
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Yesterday, the specialty insurer recorded Q1 $1 operating earnings per share, missing analyst estimates of $1.23 per share.
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The specialty insurer booked $47.9mn of cat losses – or 1.9 points on its CoR – in Q1 and one point of unfavorable reserve development mostly related to property cat losses.
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