W. R. Berkley Corporation Names David Brosnan Chief Executive Officer of W. R. Berkley Syndicate Management Limited

Rhea-AI Summary

W. R. Berkley Corporation (NYSE: WRB) has appointed David Brosnan as the new CEO of W. R. Berkley Syndicate Management Limited, pending regulatory approvals. Brosnan brings 35 years of insurance experience, having recently led the international division of a major U.S. insurer in London. He takes over from Alastair Blades, who continues as chief underwriting officer. This leadership change aims to enhance focus and capitalize on market opportunities. W. R. Berkley Corporation, founded in 1967, is a major player in the property casualty insurance sector.

Positive

• Appointment of David Brosnan as CEO expected to enhance leadership and operational focus.
• Brosnan has extensive experience and a strong reputation in the insurance industry.
• Decoupling of CEO and chief underwriting officer roles allows for improved focus on market expansion.

Negative

• None.

W. R. Berkley Corporation (NYSE: WRB) today announced the appointment of David Brosnan as chief executive officer of W. R. Berkley Syndicate Management Limited, the Lloyd’s managing agent for W. R. Berkley Syndicate 1967. He succeeds Alastair Blades, who will continue in his role as chief underwriting officer. The appointment is subject to required regulatory approvals, including Lloyd’s.

Mr. Brosnan has 35 years of insurance industry experience, having served in various executive leadership roles at a number of global insurance organizations. He most recently served as chief executive officer of the international division of a leading U.S. insurer in London. Mr. Brosnan holds a Bachelor of Arts degree from the University of California, Santa Barbara.

Mr. Blades, who has nearly 35 years of experience in the insurance industry, joined Berkley in 2009 to lead the underwriting strategy for the newly formed W. R Berkley Syndicate 1967. He successfully led the team at W / R / B Underwriting through the transition from a London Market insurer with a Lloyd’s presence to a Lloyd’s centric business that was well positioned for Brexit.

In announcing the appointment, W. Robert Berkley, Jr., president and chief executive officer, said: "We are delighted to welcome David to Berkley with his demonstrated leadership, superb market reputation and extensive management experience. Alastair has provided pivotal leadership in developing our integrated Lloyd’s platform. The decoupling of the chief executive officer and chief underwriting officer roles provides each of David and Alastair the opportunity for even greater focus that will enable the W / R / B Underwriting team to maximize its capabilities and expansion opportunities in this improving market."

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006132/en/

FAQ

Who is the new CEO of W. R. Berkley Syndicate Management Limited?

David Brosnan has been appointed as the new CEO, pending regulatory approvals.

What experience does David Brosnan have?

David Brosnan has 35 years of insurance industry experience, most recently serving as CEO of a U.S. insurer's international division.

What roles will Alastair Blades continue to hold?

Alastair Blades will continue as chief underwriting officer after David Brosnan's appointment.

What is the significance of the leadership change at W. R. Berkley?

The leadership change aims to enhance focus and maximize market opportunities for W. R. Berkley Syndicate 1967.

When was W. R. Berkley Corporation founded?

W. R. Berkley Corporation was founded in 1967 and is a significant player in the property casualty insurance market.