W. R. Berkley Corporation Forms Berkley Insurance Asia

W. R. Berkley Corporation today announced the formation of Berkley Insurance Asia. Shasi Gangadharan has been named chief executive officer and Aaron Yip has been appointed chief operating officer. The appointments are effective immediately.

This new operating unit will begin offering specialty commercial insurance coverages to clients in North Asia and Southeast Asia through offices in Hong Kong and Singapore, respectively, subject to relevant regulatory approvals.

Mr. Gangadharan has over 25 years of experience in the property casualty insurance industry, predominately focused in financial and casualty lines, in the Asia Pacific and Middle East regions. He most recently served as the chief executive officer for the Southeast Asia Region of a major property casualty insurance company.

Mr. Yip has more than 20 years of experience in the specialty commercial property casualty insurance industry. Prior to joining the Company, he served as the chief executive officer for the Greater China Region at a major property casualty insurance company.

W. Robert Berkley, Jr., chief executive officer and president of W. R. Berkley Corporation, commented, “We are excited to establish a general insurance practice in Asia that will complement our existing reinsurance presence. Both Shasi and Aaron have extensive local market experience that will enable us to develop a superior offering of product and services tailored to the specific needs of clients in the region.”

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance.

This is a "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2016 and beyond, are based upon the Company's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to, the success of our new ventures or acquisitions and the availability of other opportunities, our ability to attract and retain key personnel and qualified employees, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause actual results of the industry or our actual results for the year 2016 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Any projections of growth in the Company's revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.