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W. R. Berkley Corporation Forms Berkley E&S Solutions
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
W. R. Berkley Corporation (NYSE: WRB) has established a new entity called Berkley E&S Solutions, aimed at offering surplus lines casualty coverage for middle-market and large accounts via wholesale brokers. Curtis E. Fletcher has been appointed as President and CEO of this new venture. The company seeks to enhance its footprint in the excess and surplus lines segment, focusing on complex risks. Fletcher brings over 35 years of industry experience, having been with Berkley for 24 years.
Positive
Formation of Berkley E&S Solutions to expand market presence in surplus lines.
Curtis E. Fletcher appointed as a proven leader with extensive insurance experience.
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None.
Appoints Curtis E. Fletcher as President and Chief Executive Officer
GREENWICH, Conn.--(BUSINESS WIRE)--
W. R. Berkley Corporation (NYSE: WRB) today announced the formation of Berkley E&S Solutions, a new business that will provide surplus lines casualty coverages to middle-market and large accounts through individual wholesale broker appointments. Curtis E. Fletcher has been named president and chief executive officer of the new business, effective immediately.
W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, commented, “The creation of Berkley E&S Solutions will further expand our presence in the excess and surplus lines segment by establishing a sustainable market for mid-to-large sized, complex risks. The underwriting acumen of Curt and the team he is building will enable the business to deliver exceptional solutions to its clients. Curt is an outstanding and proven leader within our organization who will continue to make extraordinary contributions and we are delighted for him to lead this new team.”
During his more than 35-year career in the insurance industry, Mr. Fletcher has held various executive and leadership positions. He has been with Berkley for 24 years, having joined Admiral Insurance Group in 1998 and serving as its president from 2018 to 2021, when he was named its chairman.
For further information about products and services available from Berkley E&S Solutions, please contact Curt Fletcher at cfletcher@wrberkley.com.
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 worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess. For further information about W. R. Berkley Corporation, please visit www.berkley.com.
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 2022 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 2022 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.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.
