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W. R. Berkley Corporation Forms Berkley Re UK Limited and Announces Executive Appointments

^{Published on 2011-05-16 01:00:32 - Market Wire}
 

GREENWICH, Conn.--([ BUSINESS WIRE ])--W. R. Berkley Corporation (NYSE: WRB) today announced the formation of Berkley Re UK Limited. Based in London, Berkley Re UKa™s principal focus will be underwriting casualty and property treaty reinsurance, subject to regulatory approval. The operations of Berkley Re UK are expected to commence in the fourth quarter of 2011 and will complement those of Berkley Re America, Berkley Re Asia and Berkley Re Australia.

"The formation of Berkley Re UK is a further step in our efforts to expand our global reinsurance footprint. We are particularly pleased to have such accomplished people with in-depth reinsurance experience join our organization."

Richard Fothergill will be named president of Berkley Re UK. Mr. Fothergill has more than 25 years of experience in the property and casualty reinsurance industry. He previously served as head of international casualty treaty business for a major reinsurer. Mr. Fothergill earned a B.A. in Economics from the University of Kent. Elaine Perry will be appointed senior liability underwriter of Berkley Re UK. Ms. Perry has more than 20 years of related experience in the reinsurance and insurance industries, most recently serving as senior casualty treaty underwriter for a major reinsurer. She graduated from Oxford Brookes University with a degree in Law & Geography and is a fully qualified UK solicitor having specialized in insurance law. Both appointments will become effective as soon as Mr. Fothergilla™s and Ms. Perrya™s respective current employment contracts come to an end.

William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, said: aThe formation of Berkley Re UK is a further step in our efforts to expand our global reinsurance footprint. We are particularly pleased to have such accomplished people with in-depth reinsurance experience join our organization.a

For further information about Berkley Re UKa™s products and services, please contact Steven W. Taylor at [ staylor@wrberkley.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 aSafe Harbora 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 2011 and beyond, are based upon the Companya™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 Companya™s filings with the Securities and Exchange Commission. These risks could cause actual results of the industry or our actual results for the year 2011 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 Companya™s net premiums written and service 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.