WR Berkley
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Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer. -
The CEO noted that the company can participate in the property cat reinsurance market three out of every 10 to 12 years, given its approach to that class.
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WRB’s head of political lines Sundeep Daddar and PV underwriter Luke Bennett are to leave the company as a result of the exit.
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The incoming senior property underwriter will be reunited with former MS Amlin colleague Dan Black.
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Hastings will assume his new role at the end of February 2022.
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Hiscox’s John Naughton is moving to WRB Underwriting to lead its London-based product recall team, and is expected to join in the new year, this publication understands.
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David Chalk and Richard Ogoe have cumulatively spent around 16 years at WR Berkley.
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The recruit will become president of the UK reinsurance operation, before moving to CEO by the end of the year.
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The carrier is splitting the CEO and CUO roles at its Lloyd’s managing agency, with Blades continuing as CUO.
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Berkley has said it will offer 100% reinsurance protection for clients, or will happily share risk with cedants.
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Rate acceleration, frequency benefits and less-than-feared top line pressure were among the takeaways from US disclosures.
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Marijuana dispensaries in cities including Chicago, Philadelphia, Boston and Los Angeles were among the targets.
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