UK based Financial Services Authority (FSA) and Lloyd's of London have approved W R Berkley Syndicate Management to work as a Lloyd's managing agent.
As per the agreement, effective from 1 June 2012, WR Berkley Syndicate Management will presume the management of WR Berkley Syndicate 1967, substituting the "turnkey" syndicate management agreement established when the syndicate commenced in 2009.
In making the announcement WR Berkley Corporation chairman and chief executive officer William R Berkley said that the firm is pleased to offer the capabilities of an integrated Lloyd's platform for Syndicate 1967.
"W. R. Berkley Corporation has had a long and profitable association with Lloyd's, and we have the utmost confidence in our team's ability to fully develop this expanded role," Berkley added.
WR Berkley, an insurance holding company operates in five segments of the property casualty insurance business, such as specialty insurance, regional property casualty insurance, alternative markets, reinsurance and international.
