WR Berkley appoints general counsel; hires financial lines exec from Chubb
WR Berkley Corporation has made three senior appointments – two are internal promotions while it has also hired a senior executive from Chubb.
Philip Welt has been appointed executive vice president and general counsel. He joined WR Berkley in 2004 as vice president – senior counsel and was named executive vice president with oversight responsibility for certain of the company’s operating units in 2011.
Joseph Sullivan and Michael Maloney have each been appointed as executive vice presidents with oversight responsibility for certain of the company’s operating units.
Sullivan most recently served as president of Berkley Re America, an office he held since the company combined its US broker market facultative and treaty reinsurance units in 2015. He joined Berkley as executive vice president and chief operating officer of Facultative ReSources in 2010. Robert Hewitt, executive vice president with oversight for the Company’s reinsurance operating units, has been named interim president of Berkley Re America.
Maloney joins the company from a global insurer Chubb, where he most recently served as executive vice president and chief underwriting officer for North American financial lines, including all major professional liability and management liability coverages.
Robert Berkley Jr, president and chief executive officer of WR Berkley Corporation, said: “We are proud of both the strength and depth of our management team. Phil and Joe have both been key contributors to the long-term success of our enterprise. We expect that these changes in each of their responsibilities will allow us to take full advantage of their individual skill sets within their areas of expertise, and allow them to have an even greater impact on the Company’s future.
“We are also extremely pleased to welcome Mike to Berkley. His extensive underwriting background will be very complementary to our team. Lastly, we remain committed to disciplined and profitable participation in the global reinsurance market and have a unique opportunity to appoint an outstanding individual to lead our US broker market unit at a time when the casualty reinsurance market is showing early signs of potential improvement. Together, Joe and Rob will provide leadership continuity during the search for and transition to a new president of Berkley Re America.”
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