WR Berkley

The specialty insurer reported earnings of $0.82 per share, beating analysts’ consensus of $0.64 per share.

Westcott was most recently chief operating officer of reinsurance at The Navigators.

The insurer has launched a new dedicated market platform and hired a sector expert to lead it.

The Insurance Insider ran an analysis into syndicate administrative costs after Lloyd’s found no correlation between the size of a syndicate and its admin expense ratio.

Spragg joins the carrier from consulting firm Alvarez & Marsal, and fills a role previously held by Joseph Shores.

The Santa Monica start-up has raised $23.1mn to date.

Marlo Edwards will succeed former president Dale Pilkington, who is retiring.

WR Berkley CEO Rob Berkley suggested rate increases were well outpacing loss-cost trends.

Speaking during a conference call, WR Berkley CEO Rob Berkley described pricing momentum that was “gradually building”.

WR Berkley’s operating earnings declined by 1.5 percent to $0.66 per share in the first quarter of 2019.

WR Berkley announced Thursday a 3-for-2 stock split, to be paid as a stock dividend to holders on 14 March.

Predecessor David Jordan moves to head Berkley wholesale broker Breckenridge.