GREENWICH, Conn.--(BUSINESS WIRE)--
W. R. Berkley Corporation (NYSE:WRB) today announced the
appointment of Philip S. Welt as executive vice president and general
counsel. In addition, Joseph L. Sullivan and Michael J. Maloney have
each been appointed as executive vice presidents with oversight
responsibility for certain of the Company’s operating units. The
appointments are effective immediately.
Mr. Welt joined W. R. Berkley Corporation in 2004 as vice president –
senior counsel and was named executive vice president with oversight
responsibility for certain of the Company’s operating units in 2011.
Prior to joining the Company, he was an assistant general counsel –
mergers and acquisitions at a major international insurer and a
corporate associate with the New York law offices of Davis Polk &
Wardwell. Mr. Welt is also a certified public accountant and was a
senior manager at the accounting firm of Deloitte & Touche. He holds a
J.D. from New York University, and also received an M.B.A. from Columbia
University and a B.B.A. from Hofstra University.
Mr. Sullivan most recently served as president of Berkley Re America, an
office he held since the Company combined its U.S. broker market
facultative and treaty reinsurance units in 2015. He has nearly 25 years
of experience in property and casualty insurance and reinsurance, with a
particular emphasis on the casualty market. He joined Berkley as
executive vice president and chief operating officer of Facultative
ReSources in 2010, having previously held senior management positions
with a number of reinsurance companies, and was named president in 2012.
He graduated with a Bachelor of Arts degree from the University of
Massachusetts. Robert C. Hewitt, executive vice president with oversight
for the Company’s reinsurance operating units, has been named interim
president of Berkley Re America.
Mr. Maloney joins the Company from a leading global insurer, where he
most recently served as executive vice president and chief underwriting
officer for North American financial lines, including all major
professional liability and management liability coverages. With over 30
years of experience in the property and casualty insurance industry,
Mike is a graduate of New York University with a Masters of Business
Administration in management and finance. He completed his Bachelor of
Science degree in business administration at The University of Vermont.
Commenting on the appointments, W. Robert Berkley, Jr., president and
chief executive officer of W. R. Berkley Corporation, said, “We are
proud of both the strength and depth of our management team. Phil and
Joe have both been key contributors to the long-term success of our
enterprise. We expect that these changes in each of their
responsibilities will allow us to take full advantage of their
individual skill sets within their areas of expertise, and allow them to
have an even greater impact on the Company’s future. We are also
extremely pleased to welcome Mike to Berkley. His extensive underwriting
background will be very complementary to our team. Lastly, we remain
committed to disciplined and profitable participation in the global
reinsurance market and have a unique opportunity to appoint an
outstanding individual to lead our U.S. broker market unit at a time
when the casualty reinsurance market is showing early signs of potential
improvement. Together, Joe and Rob will provide leadership continuity
during the search for and transition to a new president of Berkley Re
America.”
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
insurance business: Insurance and Reinsurance. For further information
about W. R. Berkley Corporation, please visit www.wrberkley.com.
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Karen A. Horvath
Vice President – External Financial Communications
203-629-3000
Source: W. R. Berkley Corporation