W. R. Berkley Corporation Forms Berkley Transactional
Released : 09/06/2016
GREENWICH, Conn.--(BUSINESS WIRE)--
W. R. Berkley Corporation (NYSE: WRB) today announced the
formation of Berkley Transactional as a division of Berkley Professional
Liability Underwriters (BerkleyPro), a W. R. Berkley Company®.
Berkley Transactional will underwrite a full suite of transactional
insurance products, including representations and warranties insurance,
tax opinion insurance and contingent liability insurance on behalf of W.
R. Berkley Insurance Group member insurance companies rated A+
(Superior) by A. M. Best.
Randolph Hein has been named president of the new division. The
appointment is effective immediately. Mr. Hein has nearly 30 years of
experience in the property casualty insurance industry and most recently
served as senior vice president and transactional practice leader at a
major property casualty insurance company. He holds a B.S. in business -
finance from Miami University and an M.B.A. in finance from the
Weatherhead School of Management at Case Western Reserve University.
W. Robert Berkley, Jr., president and chief executive officer of W. R.
Berkley Corporation, commented, “The establishment of this new division
positions our Company to participate in this fast growing market , while
providing BerkleyPro with additional products to serve its growing
client base. Randy has a wealth of expertise that will allow us to
provide creative insurance solutions that enable buyers and sellers in
M&A deals to execute their transactions efficiently and effectively.”
For additional information about Berkley Transactional’s products and
services, please contact Randy Hein at rhein@berkleypro.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 worldwide in two segments of the property casualty
business: Insurance and Reinsurance.
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 2016 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 2016 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.
Products and services are provided by one or more insurance company
subsidiaries of W. R. Berkley Corporation. Not all products and services
are available in every jurisdiction, and the precise coverage afforded
by any insurer is subject to the actual terms and conditions of the
policies as issued.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160906005978/en/
W. R. Berkley Corporation
Karen A. Horvath, 203-629-3000
Vice
President - External
Financial Communications
Source: W. R. Berkley Corporation