Jordan Leaves AIG To Be President Of Berkley Unit

W.R. Berkley Corp. said it has named David A. Jordan, formerly a senior vice president with American Insurance Group's Lexington Insurance, to serve as president of its Vela Insurance Services Inc. unit.

Mr. Jordan, Berkley said, will succeed Richard P. Shemitis, who will serve as executive vice president-chief underwriting officer of the firm's Nautilus Insurance Group LLC.

The Greenwich, Conn.-based carrier said both appointments are effective immediately.

Mr. Jordan joins Vela with more than 28 years of experience as a senior executive in the property-casualty insurance industry.

Mr. Shemitis joined W.R. Berkley in 1996, helping to form Vela and serving as its president since its formation. He has nearly 37 years of insurance industry experience.

In announcing the appointments, William R. Berkley, chairman and chief executive officer, said: “We continue to enhance the executive ranks of our specialty operating units.”

Mr. Jordan's background and ability, he said, make him particularly well suited for his new role at Vela, and Mr. Shemitis' “broad operational and management achievements, coupled with his extensive understanding of Nautilus Insurance Group's business, are vital attributes for this newly created position at Nautilus.”

Vela underwrites excess and surplus lines casualty business with a primary focus on contractor and product liability coverages on behalf of W.R. Berkley member companies.

Nautilus Insurance Group, comprised of Nautilus Insurance Company and Great Divide Insurance Company, is a commercial E&S and specialty lines carrier. Its products are distributed exclusively through appointed general agents who are authorized in a specific underwriting territory as surplus lines producers.