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.