WR Berkley
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We highlight the key new disclosures by P&C companies at an investor conference on Wednesday, including AIG, WR Berkley, The Hanover, and Third Point Re. -
William Berkley said a continued uptick in jury awards would apply sustained pressure on the casualty and PI markets.
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Pace of change is being driven by emerging “pain” across the market.
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The specialty insurer reported earnings of $0.82 per share, beating analysts’ consensus of $0.64 per share.
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Westcott was most recently chief operating officer of reinsurance at The Navigators.
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The insurer has launched a new dedicated market platform and hired a sector expert to lead it.
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Spragg joins the carrier from consulting firm Alvarez & Marsal, and fills a role previously held by Joseph Shores.
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Marlo Edwards will succeed former president Dale Pilkington, who is retiring.
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WR Berkley president and CEO William Berkley said the market is starting to grapple with past mistakes.
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Speaking during a conference call, WR Berkley CEO Rob Berkley described pricing momentum that was “gradually building”.
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WR Berkley’s operating earnings declined by 1.5 percent to $0.66 per share in the first quarter of 2019.
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