"We've survived worse things in the past, and we'll survive this too."
That's the way William R. Berkley, founder and executive chairman of Greenwich, Conn.-based insurer W.R. Berkley Corp., opened his keynote speech Thursday at the 118th annual meeting of the American Institute of Marine Underwriters. "But it's still an exciting time to be in the insurance business."
Reviewing the global economy, Berkley noted that the U.S. election and Brexit are just the beginning of a global trend with the rest of Europe not too far behind. "The population is unhappy with the status quo and the social system," he added, also pointing out Nigeria's proposal to make owning U.S. dollars illegal, and India's action in withdrawing large currency notes from circulation.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
