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W. R. Berkley Corporation Forms Berkley Agribusiness Risk Specialists and Announces Management Appointments

^{Published on 2009-02-23 11:11:47, Last Modified on 2009-02-23 11:12:49 - Market Wire}
 

GREENWICH, Conn.--([ BUSINESS WIRE ])--W. R. Berkley Corporation (NYSE: WRB) today announced the formation of Berkley Agribusiness Risk Specialists, a new division of Continental Western Group, LLC. Based in Des Moines, Iowa, Berkley Agribusiness Risk Specialists will operate nationally and offer property and casualty insurance products to mid-sized and larger commercial agribusiness and related risks. The new division will serve customers in regional grain storage and marketing, grower-packer-shippers, and food and beverage distribution, among others.

Terry Shaw has been appointed division president and Brad Waline and Brad London have each been named senior vice president of the division. Collectively, Messrs. Shaw, Waline and London bring more than 37 years of related underwriting experience to Berkley Agribusiness Risk Specialists.

Berkley Agribusiness Risk Specialists will use as its issuing carriers member companies of W. R. Berkley Corporation's regional segment, each of which are rated A+ (Superior) by A.M. Best Company, Inc.

In making the announcement, William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, commented, "We are glad to have hired a most experienced group of individuals in Terry, Brad and Brad. Berkley Agribusiness Risk Specialists will use its underwriting expertise in specialized agribusiness products to become a leading nationwide market and should provide an excellent opportunity for profitable growth."

For further information about the products and services available from Berkley Agribusiness Risk Specialists, please contact Terry Shaw at [ tshaw@cwgins.com ].

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance, and international.

This is a "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2009 and beyond, are based upon the Company's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to, the success of our new ventures or acquisitions and the availability of other opportunities, our ability to attract and retain qualified employees, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause actual results of the industry or our actual results for the year 2009 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Any projections of growth in the Company's net premiums written and management fees would not necessarily result in commensurate levels of underwriting and operating profits. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.