W. R. Berkley Corporation Launches Berkley Fire & Marine Underwriters
Announces Management Appointment
GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE: WRB) today announced the launch of 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. Products will be distributed through independent agents and brokers.
Berkley Fire & Marine will underwrite products on an admitted basis on behalf of Berkley Insurance Company and other W. R. Berkley Corporation member insurance companies, which are all rated A+ (Superior) by A.M. Best Company, Inc.
John Geary has been named president of Berkley Fire & Marine. Mr. Geary has more than 25 years of experience in the property casualty insurance industry. He most recently served as vice president of inland marine for another major U.S. insurance group, having previously held senior positions with other major insurers. Mr. Geary earned a B.S. from Valparaiso University.
In making the announcement, William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, said: "The creation of Berkley Fire & Marine is another example of how we bring talented people together with capital and allow them to focus in areas where they have a particular expertise. John is an experienced specialist in this area of the market, and we are pleased to welcome him to the team. Berkley Fire & Marine will use its underwriting expertise in inland marine and related property products to become a leading nationwide market. It will provide W. R. Berkley Corporation with another excellent opportunity for profitable growth."
For further information about the products and services available from Berkley Fire & Marine, please contact John Geary at firstname.lastname@example.org.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance and international.
This is a "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2013 and beyond, are based upon the Company's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to, the success of our new ventures or acquisitions and the availability of other opportunities, our ability to attract and retain key personnel and qualified employees, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause actual results of the industry or our actual results for the year 2013 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Any projections of growth in the Company's revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
W. R. Berkley Corporation
Karen A. Horvath, 203-629-3000
Vice President - External
KEYWORDS: United States North America Connecticut Illinois
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