WR Berkley

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.

The CEO said WRB would look to add exposure as more lines of business reached rate adequacy.

WR Berkley matched the 25% premium growth at RLI, with the insurance segment’s top line growing by 29%.

The business will be led by Berkley’s transportation head Jeanne Fenster and will initially focus on the non-fleet transportation markets.

Argo had signaled his departure last week, announcing Higley would be replaced in his old role by former Berkley exec Laura Havice.

Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.

Middleton has had a 30 year career in commercial lines, most recently as executive vice president and head of industry practices at Chubb.

Eppolito was previously CFO of Berkley Oil & Gas, having joined WB in 2010 from Continental American Insurance Company.