Berkley Re, part of W. R. Berkley Corporation, has launched a new division Berkley Re Turnkey Solutions.
It will offer reinsured turnkey solutions to carriers, managing general agents (MGAs), programme administrators (PAs), and InsurTech companies.
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This division will focus on growing Berkley Re’s reinsurance portfolio, with plans to allocate resources to expand the segment by providing reinsured turnkey solutions for both commercial and personal lines.
These solutions encompass cyber insurance, employment practices liability insurance, contractors professional, crime insurance, workplace violence coverage for commercial entities, and violent event protection coverage for personal lines.
The company will work closely with partners to identify and develop new solutions by utilising Berkley organisation capabilities.
Berkley Re senior vice president head of turnkey solutions said: “We are excited to invest in and continue growing this portion of our portfolio. Helping partners launch new lines of coverage powered by our full spectrum of services is exciting for our team.
“We are focused on having the best people, products, and processes, making it easy to do business with us. This launch underscores our commitment to meeting the needs of clients and reinsurance broker partners with innovative and reliable solutions.”
The release stated that reinsurance products and services may be provided by one or more insurance company subsidiaries of W. R. Berkley Corporation.
Availability of these products and services varies by jurisdiction, and the specific coverage provided is determined by the actual terms and conditions of the policies as issued, it added.
In December 2024, Berkley Insurance Company, another unit of W. R. Berkley Corporation, received approval from the International Financial Services Centres Authority to establish a branch office in India.
