WR Berkley
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The first week’s reporters present a conundrum around whether or not we will see ROE expansion in 2021. -
Berkley has said it will offer 100% reinsurance protection for clients, or will happily share risk with cedants.
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Growth remains an important topic for Berkley given that since Q1:20 rate increases have outpaced its GWP growth.
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The WRB CEO said the carrier expects workers comp rates – which remain a market outlier – to bottom out by the end of 2021.
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The company added $27mn to its Covid-19 estimate, the first time it has done so since Q2, putting its pandemic claims at $177mn.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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The carrier says the divestment will increase stockholders’ equity by about $52mn, before tax.
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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.
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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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