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Berkley news from Insurance Insider US

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Property momentum slowing as casualty heats up: WR Berkley CEO

Submission flows in WR Berkley’s E&S business overall are growing “considerably faster” than its admitted business.

Caroline Ryan, January 27, 2025

Q4 earnings roundup January 27: WR Berkley, Brown & Brown

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, January 27, 2025

Broker consolidation significant, but not concerning for WR Berkley

The carrier doesn’t have big concentrations with distributors and conducts business with individual brokers.

Caroline Ryan, December 11, 2024

Reinsurers will struggle to achieve ‘flat’ renewals: WR Berkley CEO

This could change if Milton losses turn “ugly”.

Kyoung-son Song, October 21, 2024

Q3 earnings roundup October 21: Berkley, RLI, Selective

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, October 21, 2024

WR Berkley will see immaterial loss from CrowdStrike event: CEO

For many, it could be a “wake-up call” to the systematic exposures inherent in cyber.

Kyoung-son Song, July 22, 2024

Q2 earnings roundup July 22: WR Berkley, Brown & Brown, RLI

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, July 22, 2024

Axis investor day: Are new goals aspirational or overly optimistic?

Industry trends show the Axis book value growth goal may be hard to hit.

Amit Kumar, June 04, 2024

Rob Berkley's highlighted reserving metrics vs the industry

Focus on reserves to continue as gap between cautious reservists and others emerges.

Amit Kumar, April 24, 2024

Q1 earnings roundup April 23: Chubb, Berkley

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, April 23, 2024

WR Berkley stock price falls more than 5% despite favorable results

Earlier today, the carrier reported that its Q1 combined ratio came in at 88.8%, down from last Q1’s 90.6%.

Hal Stucker, April 23, 2024

Liability reinsurance showing ‘green shoots of discipline’: CEO Berkley

Reinsurers will try to put pressure on insurers for casualty and liability lines, as they did in property.

Kyoung-son Song, April 23, 2024

Workers' comp rate declines narrowing amid medical inflation, regulatory concerns

Carriers expressed confidence on the line’s ability to withstand medical inflation.

Shelby Rosenberg, February 28, 2024

The casualty loss reserve elephant in the room

Commercial carrier earnings continue to show mixed prior-year development.

Amit Kumar, Maria Lamberton, Husain Rupawala, February 06, 2024

WR Berkley shares gain 7% following strong Q4 results and E&S commentary

On Wednesday, the insurer reported 12% growth in net written premiums.

Kyoung-son Song, January 25, 2024

WRB top-line growth could outpace 12% in 2024: CEO

The specialty carrier’s top-line growth accelerated throughout 2023.

Kyoung-son Song, January 24, 2024

Q4 earnings roundup January 24: WR Berkley, RLI

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, January 24, 2024

WR Berkley sues reinsurers for $90mn to recoup Covid losses

The syndicate is suing its reinsurers to cover Covid-19-related claims in California, Colorado, Florida, Illinois, Nevada, New York and the UK.

Aisling Finn, January 12, 2024

Berkley Entertainment names Schuermann president, Broschart as chair

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.

Kyoung-son Song, December 14, 2023

Berkley names Asahl president of Continental Western Group

The exec has nearly 30 years of property and casualty insurance experience and succeeds interim CWG president Melodee Saunders.

Hal Stucker, December 13, 2023

WR Berkley names Khan president of Preferred Employers Insurance

S. Akbar Khan is a 20-year insurance industry veteran, most recently serving as a senior officer at a leading national US insurer.

Shelby Rosenberg, December 11, 2023

WR Berkley names Balch president of Berkley Technology Underwriters

Christopher Balch is succeeding Matthew Mueller, who has been named chairman of the business. Both appointments are effective immediately.

Shelby Rosenberg, November 13, 2023

Social inflation ‘continues to burn’: WR Berkley CEO

The company also continues to be “very mindful” of medical cost trends, which CEO Berkley noted were shifting very quickly after a benign period.

Kyoung-son Song, October 23, 2023

Q3 earnings roundup October 23: WR Berkley, Brown & Brown, RLI

The Inside P&C news team runs you through the earnings results for the day.

Insurance Insider US news team, October 23, 2023

WRB promotes Forte to Berkley Public Entity president

Forte joined the specialty insurer in early 2018 as public entity SVP, CUO and COO after a spell at AIG based in New Jersey.

Jairo Ibarra, September 29, 2023

Competitor news

Tony Markel to retire as Markel board vice chair

Markel also announced the appointment of Jon Michael to its board.

Clark Mindock, March 17, 2025

Wilson appointed Markel Insurance CEO

Markel Insurance is made up of the firm’s three primary underwriting businesses.

Abbie Day, March 17, 2025

Axis acquires renewal rights for Markel’s large financial institutions business

Markel had announced the exit from the line of business in the US last year.

Kyoung-son Song, March 14, 2025

American Airlines insurers face fire loss as claims pile-up continues

Of the 178 passengers and crew on board, no serious injuries have been reported.

Abbie Day, March 14, 2025

US economic, political policy coherence has yet to emerge: Chubb CEO

CEO Greenberg cited ‘competing priorities’ in his annual letter to shareholders.

Jairo Ibarra, March 13, 2025

Chubb creates North America small and lower midmarket division

The move combines two units in the North America middle market division.

Caroline Ryan, March 12, 2025

Chubb Bermuda excess liability head Warwicker retiring

Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.

Kyoung-son Song, March 11, 2025

Bermuda 2024 reserves review: The problem with pivoting

GAAP reserve triangles reveal the struggles of some hybrid franchises.

Amit Kumar, March 10, 2025

MGAs growing in increasingly complex global PVT market

Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.

Caroline Ryan, March 04, 2025

Chubb re-opens in CA HNW homeowners with stricter underwriting guidelines

Under the new guidelines, the carrier is requiring more distance from the brush.

Kyoung-son Song, March 03, 2025

Chubb promotes Scheffler to president of Personal Risk Services

Former PRS president Ana Robic was promoted to regional president.

Kyoung-son Song, February 26, 2025

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Insurance needs to step up its tech efficiency game: Markel’s Kryszon

Technology is key to streamlining the value chain and mitigating loss ratios.

Thorsten Schier, February 26, 2025

Chubb appoints Furby executive chairman

Ana Robic will succeed Furby as EMEA regional president.

Abbie Day, February 26, 2025

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January cat heatmap: California wildfires fuel rise in cat losses

January cat losses continue to run higher than prior years, with no help from latest wildfires.

Noah Marchese, February 21, 2025

Allstate estimates reinsurance recoveries of $1.4bn from CA wildfires

The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.

Kyoung-son Song, February 20, 2025

Activist hedge fund Trian halves remaining Allstate stake

The investment firm’s holdings were down to $59mn at the end of Q4.

Jairo Ibarra, February 19, 2025

Activist investor Jana unveils roughly 1.4% position in Markel

Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.

Jairo Ibarra, February 19, 2025

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Markel – Don’t sell Ventures. Fix insurance and sell reinsurance

The group should also tilt capital allocation away from M&A and deepen its disclosure.

Adam McNestrie, February 14, 2025

CA wildfires should dampen enthusiasm for property cat: Arch CEO

The company, meanwhile, is bullish on E&S US casualty.

Kyoung-son Song, February 11, 2025

Travelers pegs pre-tax LA fire loss at $1.7bn

Its post-tax estimate of $1.3bn is net of reinsurance recoveries.

Rachel Dalton, February 11, 2025

Q4 earnings roundup February 10: Arch, CinFin, CNA

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, February 10, 2025

Markel’s international fine arts book to take largest CA wildfire hit: CFO

The company did not take questions on its recently announced business review.

Jairo Ibarra, February 06, 2025

Allstate has no plans to grow its homeowners business in California

The carrier has not added new business in the state since 2007.

Caroline Ryan, February 06, 2025

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Markel reports IP losses of $169mn for FY24

The insurer acknowledged additional claims in 2025 would be “reasonably possible”.

Ayesha Venkataraman, February 06, 2025

Markel estimates $90mn-$130mn Q1 CA wildfire loss, swings to UW gain

The specialty insurer reported favorable developments in both its insurance and reinsurance segments.

Jairo Ibarra, February 05, 2025

Insider On Air: Our Webinars & Podcast Channel

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Behind the Headlines Podcast

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Behind the Headlines: BP Marsh's Dan Topping on the ingredients for a successful investment

Is the MGA start-up boom here to stay?

March 06, 2025

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Behind the Headlines: Navium Marine's Clive Washbourn on why MGAs are the fighter jets of insurance

How do you build a $400mn MGA? Navium Marine CEO Clive Washbourn told Behind the Headlines that his business is a "fighter jet" out hunting for deals. Navium has built scale by taking on risk "in a fairly aggressive way" with large line sizes available to deploy. Whilst the marine market is now coming under pressure, Washbourn still thinks there is "robustness" in rating, although making money in the volatile Red Sea war market is challenging.

October 24, 2024

Behind the Headlines: Ian Gormley on the key takeaways from RIMS, and BMS expansion plans in 2024

Listen in as BMS UK CEO Ian Gormley shares key takeaways from RIMS, changing dynamics in the property E&S market, and BMS expansion plans in 2024.

May 23, 2024

Behind the Headlines: Rating conditions gear-shift and Inigo's Watson & Kaye on its next phase of growth

Listen in as Inigo CEO Richard Watson and head of reinsurance Alice Kaye discuss the use of data and AI in underwriting, the possibilities of entering the casualty treaty market, and all options being on the table for future capital events.

May 09, 2024

From our other titles

Enstar to be taken private by shareholder Sixth Street in $5.1bn deal

The deal values the business just under its closing price on Friday, at 0.97x book value.

Adam McNestrie, July 29, 2024

Aspen promotes Dunleavy to president and Pickering to group CFO

The new leadership structure is designed to create more accountable executive roles responsive to Aspen’s strategy.

Samuel Casey, July 29, 2024

Chubb adds $1.7bn US cat top layer to treaty

The insurer also pushed up its retention by $650mn.

Fiona Robertson, July 29, 2024

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