WR Berkley

Robinson, a 40-year industry veteran who has also previously worked at AIG, Marsh, and Travelers, will serve as president of the new division.

The Inside P&C research team looks forward to the big issues of the new year.

The executive succeeds Keith Mitchell, who has been named chairman of Union Standard.

Admiral Insurance Group’s Fletcher takes on chairman’s role; new president Daniel Smyrl joined WRB subsidiary in 2002

The broader US commercial marketplace is competitive, with many admitted carriers writing coverage through different distribution channels.

“We think about volatility as a component of risk,” Berkley said. “Clearly, the industry is feeling the challenges that come along with cat activity.”

Catastrophe losses cost the company $73mn – in line with a year ago – and underlying margins at the Greenwich-based carrier also improved.

Speakers and panelists pondered the future – specifically InsurTechs, social inflation and low investment yields.

“You'd have to go back – probably to the early mid-80s [or] around 2000 – before you see times like this where you have a very strong market focused on specialty,” Bill Berkley said at the Inside P&C North America conference.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

Employment data indicates that easy growth and margin expansion may slow soon.

The specialty insurer performed well, riding high on accelerating premiums, exposure-driven growth and economic expansion.