WR Berkley
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The carrier's president and CEO tells analysts property and auto are “getting rate”, while casualty has been patchier.
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WR Berkley had been auditioning banks for guidance on how to sell all or parts of Breckenridge.
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Job losses and the merging of aviation teams helped maintain upwards pressure on rates. -
Robert Vetch was previously CFO of WR Berkley Underwriting.
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Philip Welt was promoted to executive vice president and general counsel, and two other executive vice presidents were named.
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The executive takes over from Christopher Brown, who becomes chairman of A&H.
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Market sources described a frenetic dynamic between underwriting leaders and followers in the verticalised market.
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Above-average cat losses dominate discussions during the P&C earnings season.
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Executives faced pointed questions about workers’ compensation claims trends and casualty pricing during Q3 conference calls.
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Scott Barraclough was named CEO of BPE, while his former role at Admiral Insurance will be taken on by Curtis Fletcher.
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The WR Berkley CEO highlighted areas for concern in professional liability lines.
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Alleghany’s RSUI and Berkley’s Admiral denied claims from a Penn State fraternity.
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