W. R. Berkley Corporation Announces Approval of W. R. Berkley Syndicate Management Limited as a Lloyd's Managing Agent
GREENWICH, Conn.--(BUSINESS WIRE)--
W. R. Berkley Corporation (NYSE: WRB) today announced the
approval by the U.K. Financial Services Authority (FSA) and by Lloyd's
of London for W. R. Berkley Syndicate Management Limited to act as a
Lloyd's managing agent.
With effect from 1st June, 2012, W. R. Berkley Syndicate Management
Limited will assume the management of W. R. Berkley Syndicate 1967,
replacing the"turnkey" syndicate management agreement established when
the syndicate commenced in 2009. W. R. Berkley Corporation now has a
fully integrated Lloyd's platform, which complements its worldwide
operations.
In making the announcement, William R. Berkley, chairman and chief
executive officer of W. R. Berkley Corporation, commented, "We are
pleased to offer the capabilities of an integrated Lloyd's platform for
Syndicate 1967. W. R. Berkley Corporation has had a long and profitable
association with Lloyd's, and we have the utmost confidence in our
team's ability to fully develop this expanded role."
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 2012 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 key personnel and 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 2012 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
revenues would not necessarily result in commensurate levels of
earnings. 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.
W. R. Berkley Corporation
Karen A. Horvath
Vice
President — External
Financial Communications
203-629-3000
Source: W. R. Berkley Corporation
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