W. R. Berkley Corporation Names Michael Marcus President of Berkley Industrial Comp

Rhea-AI Summary

W. R. Berkley Corporation (NYSE: WRB) announced the appointment of Michael Marcus as the new president of Berkley Industrial Comp, succeeding Chandler F. Cox, Jr., who now serves as chairman. Marcus, with over 30 years in commercial property and casualty insurance, joined Berkley in 2008 and most recently held a senior vice president role. Cox co-founded the company and has led it since 2000, transitioning its focus from coal mining to diverse high-hazard industries. CEO W. Robert Berkley, Jr. expressed confidence in Marcus's leadership abilities.

Positive

• Appointment of Michael Marcus as president enhances leadership continuity at Berkley Industrial Comp.
• Michael Marcus brings over 30 years of industry experience, having significantly contributed to sales and business analytics.
• Chandler F. Cox, now chairman, provides strategic guidance leveraging his extensive experience.

Negative

• None.

GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE: WRB) today announced the appointment of Michael Marcus as president of Berkley Industrial Comp. He succeeds Chandler F. Cox, Jr., who has been named chairman of the business. The appointments are effective immediately.

Mr. Marcus joined Berkley in 2008 as a regional director at Key Risk and most recently served as Key Risk’s senior vice president – sales, distribution and business analytics. He has more than 30 years of commercial property and casualty insurance experience and holds a Bachelor of Arts degree from Louisiana State University

Mr. Cox co-founded Berkley Industrial Comp (formerly American Mining Insurance Group) and has served as its president and chief executive officer since 2000. Since joining Berkley in 2007 when the company was acquired, he has provided continuous leadership as the business transitioned away from specializing in insurance protection for the coal mining industry to become a leader in serving diverse high-hazard industries. As chairman, he will provide continuity, insights and strategic guidance.

W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, commented on the appointment, "We would like to thank Chan for his extraordinary contributions to Berkley Industrial Comp and W. R. Berkley Corporation over his many years of service. His vision in transforming the business to succeed in an ever-changing environment has been exemplary, and we are delighted that he will be continuing in this new role. Mike has done an exceptional job during his tenure, and he possesses the characteristics we look for in an outstanding leader. Mike’s attributes, combined with his wealth of experience, make us exceedingly confident in his ability to lead the exceptional Berkley Industrial Comp team as they further build upon the business’s long history of success."

For further information about products and services available from Berkley Industrial Comp, please visit www.berkindcomp.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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220517006109/en/

Karen A. Horvath

Vice President - External

Financial Communications

(203) 629-3000

Source: W. R. Berkley Corporation

FAQ

Who is the new president of Berkley Industrial Comp?

Michael Marcus has been appointed as the new president of Berkley Industrial Comp.

What role does Chandler F. Cox have at Berkley Industrial Comp now?

Chandler F. Cox has been named chairman of Berkley Industrial Comp.

When were the leadership changes at Berkley Industrial Comp announced?

The leadership changes were announced on the date of the press release, effective immediately.

What is Michael Marcus's experience in the insurance industry?

Michael Marcus has over 30 years of experience in commercial property and casualty insurance.

What company does W. R. Berkley Corporation primarily serve?

W. R. Berkley Corporation primarily serves diverse high-hazard industries through its Berkley Industrial Comp division.