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NU Online News Service, Nov. 4, 3:09 p.m. EST
W.R. Berkley Corp. announced that Robert Berkley Jr., the 36-year-old son of company founder and Chief Executive Officer W.R. Berkley, has been named president and chief operating officer.
The company said yesterday Mr. Berkley Jr.’s appointment was effective immediately following his election to the posts by the company board. COO is a new position in the company.
Mr. Berkley Jr. worked as an investment banker at Merrill Lynch & Company before joining W.R. Berkley in 1997, and has served as its executive vice president since August 2005.
The firm said that as president and chief operating officer he will manage all of the company's operating units, adding oversight of the company's reinsurance and international segments to his current responsibilities.
Previously, the firm said, he has been responsible for the oversight of the company's domestic insurance operations, including its specialty, regional and alternative markets businesses, since 2005.
The new president has served on the company's board since his election in 2001. Other positions he has held in the company include senior vice president-specialty operations, overseeing the operations of the specialty segment, and president of Berkley International, LLC, with responsibility for the company's international segment.
He is currently chairman of the National Council on Compensation Insurance, NCCI Holdings Inc., an industry-based organization that manages the nation's largest database of workers' compensation insurance information.
W.R. Berkley Corp. writes commercial lines and operates in five segments of the property and casualty insurance business: specialty insurance, regional property and casualty insurance, alternative markets, reinsurance, and international.