W. R. Berkley Corporation has appointed Heath Kidd as executive vice president, effective immediately.
Kidd brings over 30 years of expertise in the property and casualty insurance sector, having held leadership positions across strategy, underwriting, risk control, product development, claims, and analytics. Before joining W. R. Berkley, he served as vice president of industry practices for the North American underwriting division of a leading national insurer.
This appointment follows a series of strategic expansions for the insurance group. Earlier this month, W. R. Berkley introduced Berkley Embedded Solutions, a new business unit designed to deliver customized insurance products and services at the point of purchase. To lead this initiative, the company appointed Stephanie Lloyd as president. Lloyd brings two decades of experience in the property and casualty insurance sector, with a background in underwriting, product development, and distribution.
Expanding its global footprint, W. R. Berkley announced in December its plans to enter new international markets. The company’s subsidiary, Berkley Insurance Company, received approval from the International Financial Services Centers Authority (IFSCA) to establish a branch office in India. The newly approved branch, located in GIFT City, Gujarat, will operate under the name Berkley Insurance Company, IFSC Branch.
Strong Financial Performance
In addition to its leadership appointments and business expansion, W. R. Berkley reported strong financial results for the fourth quarter. The company posted a net income of $576.1 million for common shareholders, reflecting a 45% increase from the $397.3 million recorded in the same period last year.
Net premiums for the fourth quarter rose to $2.94 billion, up from $2.72 billion the previous year, driven by an average rate increase of 7.7% across all lines, excluding workers’ compensation. For the full year, total premiums reached $11.97 billion.
In comparison, the company reported a third-quarter net income of $365.6 million, up from $333.6 million in the previous year. Net premiums written for the quarter stood at $3.06 billion.
W. R. Berkley continues to demonstrate strong growth and strategic expansion, positioning itself as a leader in the evolving insurance landscape.
