WR Berkley
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She takes over from Gary Gudex, who has been named chairman of the carrier.
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The potential for an inflection point on pricing in the near future was a key Q3 conference call theme. -
Insurance stocks hurtled upwards on a Biden victory and bullish vaccine news.
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Management highlights runway on growth, conservative accounting and headwinds to NII.
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WRB’s CEO said the company had to adjust its loss picks to reflect a change in trend.
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Cat losses more than doubled to $73mn from $31mn.
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Timothy Nelligan takes up the new post with immediate effect.
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David Lockhart will lead WRB’s specialist transportation insurance operation.
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The marine specialist has joined Berkley Offshore Underwriting Managers in Houston.
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Yesterday, WR Berkley reported second-quarter earnings, posting an underwriting profit in spite of elevated catastrophes and significant losses from Covid-19.
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Covid-19 has led to a drop in loss frequency, helping WRB report an underwriting profit in Q2.
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The company pointed to low interest rates and social inflation as driving rate, not Covid.
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