W.R. Berkley Forms New E&S Provider, Names President

W.R. Berkley Corp. said it has formed a new company to provide excess and surplus lines coverages.

Verus Underwriting Managers LLC will underwrite on behalf of W.R. Berkley Corp. (NYSE WRB) member insurance companies and will be headed by Dale H. Pilkington, the company said in a statement. Pilkington's 30 years of insurance experience focused on excess and surplus lines, W.R Berkley said. Pilkington was excess and surplus lines chief for Argo Group International Holdings (BestWire, Nov. 2, 2007).

Attempts to reach the company for additional comment were unsuccessful.

The acquisition of Pilkington will help the company "increase our presence in the specialty insurance segment of the industry," Chief Executive Officer William R. Berkley said in a statement.

In addition, Jeffrey M. Hafter and Lucille T. Sgaglione were appointed to the newly created positions of senior vice presidents, reporting to W. Robert Berkley Jr., president and chief operating officer. Hafter begins immediately. Sgaglione starts May 13, W.R. Berkley said.

Members of the W.R. Berkley Group have Best's Financial Strength Ratings of A+ (Superior).

In afternoon trading on May 3, shares of W.R. Berkley were selling at $27.24, up 0.89% from the previous close.

(By Chad Hemenway, associate editor, BestWeek: [email protected])