Berkley to raise $130m from sale of aviation services businesses

WR Berkley Corporation, a commercial property/casualty insurer, has agreed to sell Aero Precision Industries and other related aviation services businesses for approximately $130 million pre-tax.

The sale is expected to close in the third quarter of this year. Berkley is an insurance company in the commercial lines and operates globally in two segments of the property/casualty business: insurance and reinsurance.