NU Online News Service, May 16, 1:53 p.m. EDT
Greenwich, Conn.-based insurer W. R. Berkley Corp. says it is forming Berkley Re U.K. Ltd.
The company says that the London-based company's principal focus will be underwriting property and casualty treaty reinsurance, subject to regulatory approval.
Berkley Re U.K. is expected to open for business in the fourth quarter of 2011 and will complement those of Berkley Re America, Berkley Re Asia and Berkley Re Australia.
Richard Fothergill will be named president of Berkley Re U.K. He has more than 25 years of experience in the P&C reinsurance industry. He previously served as head of international casualty treaty business for a major reinsurer.
Elaine Perry will be appointed senior liability underwriter of Berkley Re U.K. She has more than 20 years of related experience in the reinsurance and insurance industries, most recently serving as senior casualty treaty underwriter for a major reinsurer.
Both appointments will become effective as soon as the employment contracts of the two come to an end.
"The formation of Berkley Re U.K. is a further step in our efforts to expand our global reinsurance footprint," says William R. Berkley, chairman and chief executive officer of W. R. Berkley, in a statement. "We are particularly pleased to have such accomplished people with in-depth reinsurance experience join our organization."
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