Business & Finance
Thu, February 26, 2009Wed, February 25, 2009Tue, February 24, 2009Mon, February 23, 2009Sun, February 22, 2009Fri, February 20, 2009Thu, February 19, 2009Wed, February 18, 2009Tue, February 17, 2009W. R. Berkley Corporation Forms New Division of Admiral Insurance Group, LLC and Announces Management Appointment
Published in Business and Finance on Monday, February 23rd 2009 at 10:08 GMT, Last Modified on 2009-02-23 10:09:47 by Market Wire
GREENWICH, Conn.--([ BUSINESS WIRE ])--W. R. Berkley Corporation (NYSE: WRB) today announced the formation of a new division of Admiral Insurance Group, LLC that will focus initially on allied health and related risks on a program basis.
Michael S. Bernstein, who will report directly to Admiral's president and chief executive officer, James S. Carey, will oversee the new division, which will be based in New York City. Mr. Bernstein's insurance industry experience spans over 26 years and has concentrated almost entirely on professional liability products.
Admiral Insurance Company is a leading provider of excess and surplus lines coverage to commercial risks that generally involve moderate to high degrees of hazard and is 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, "Michael Bernstein is a highly skilled insurance executive that we are pleased will join our company. We expect the new division to enhance Admiral's position as a leading market for professional liability risks that fall outside the standard market."
For further information about the products and services available from the new division, please contact Michael Bernstein at [ mbernstein@admiralins.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.
