W. R. Berkley's CEO Hosts UBS Global Financial Services Conference Call (Transcript)

W. R. Berkley Corporation (WRB)

UBS Global Financial Services Conference Call

May 8, 2012 01:40 pm ET

Executives

William R. Berkley – Chairman of the Board and Chief Executive Officer

Analysts

Brian R. Meredith – UBS Securities LLC

Presentation

Brian R. Meredith – UBS Securities LLC

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All right, good afternoon, everybody. I think we’re going to get started, let people just kind of mosey on in. I’m Brian Meredith. I’m the Property Casualty Insurance analyst for UBS. Our next presenter, I believe, is the longest tenured CEO in the property Casualty Insurance industry, and actually has been through three cycle turns, which gives him an immense amount of experience and it’s really incredibly enjoyable listening to him.

Bill Berkley is the Chairman and CEO of W. R. Berkley. With us today also we have the President and COO, Rob Berkley. We’ve got the CFO, Gene Ballard, as well as the Head of Investor Relations, Karen Horvath.

And, with that, I’m going to turn it over to Bill.

William Berkley

Well, good morning. We think that this business is about creating long-term value. It really takes actual knowledge about how the business works. And unfortunately so many of the companies we see are staffed by people who have superficial knowledge who have no depth of thinking and no real experience other than in one bit of the business. We think that it requires a real understanding of all the lines of business to manage the exposure inherent in each line of business, because in fact, the risks and exposure inherent in each line is different. It isn’t all of the same.

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