Business & Finance
Fri, February 27, 2009Thu, February 26, 2009Wed, February 25, 2009Tue, February 24, 2009Mon, February 23, 2009Sun, February 22, 2009Fri, February 20, 2009Thu, February 19, 2009Wed, February 18, 2009W. R. Berkley Corporation Forms Gemini Transportation Underwriters and Announces Management Appointment
Published in Business and Finance on Tuesday, February 24th 2009 at 7:10 GMT, Last Modified on 2009-02-24 07:11:03 by Market Wire
GREENWICH, Conn.--([ BUSINESS WIRE ])--W. R. Berkley Corporation (NYSE: WRB) today announced the formation of Gemini Transportation Underwriters, a new division of Carolina Casualty Insurance Group, LLC. Gemini Transportation Underwriters will specialize in underwriting transportation excess liability insurance, such as railroad liability and vehicular coverage.
Rocco P. Modafferi, CPCU has been named president of the new Boston-based division, effective immediately. Mr. Modafferi has over thirty years of experience in casualty insurance.
Gemini Transportation Underwriters will utilize W. R. Berkley Corporation member company Gemini Insurance Company, which is rated A+ (Superior) by A.M. Best Company, Inc., as its issuing carrier.
In making the announcement, William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, commented, "We are pleased to have Rocco Modafferi, a demonstrated leader with specialized experience in the excess casualty transportation insurance marketplace, join us. This new division will allow W. R. Berkley Corporation to significantly expand its footprint in the commercial transportation insurance marketplace."
For further information about the products and services available from Gemini Transportation Underwriters, please contact Rocco Modafferi at [ rmodafferi@carolinacas.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.
