WR Berkley
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Carriers expressed confidence on the line’s ability to withstand medical inflation.
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Commercial carrier earnings continue to show mixed prior-year development.
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On Wednesday, the insurer reported 12% growth in net written premiums.
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The specialty carrier’s top-line growth accelerated throughout 2023.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The syndicate is suing its reinsurers to cover Covid-19-related claims in California, Colorado, Florida, Illinois, Nevada, New York and the UK.
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Schuermann joined Berkley Entertainment as chief operating officer in 2021 from NN Inc. Broshcart served in the president role upon the unit’s formation in 2004.
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The exec has nearly 30 years of property and casualty insurance experience and succeeds interim CWG president Melodee Saunders.
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S. Akbar Khan is a 20-year insurance industry veteran, most recently serving as a senior officer at a leading national US insurer.
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Christopher Balch is succeeding Matthew Mueller, who has been named chairman of the business. Both appointments are effective immediately.
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The company also continues to be “very mindful” of medical cost trends, which CEO Berkley noted were shifting very quickly after a benign period.
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The Inside P&C news team runs you through the earnings results for the day.
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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.
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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.