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March 13, 2009 |
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ASBESTOS LITIGATION: W. R. Berkley Has $39.64MM Reserves in 2008 W. R. Berkley Corporation's net reserves for losses and loss adjustment expenses relating to asbestos and environmental claims were US$39,646,000 at Dec. 31, 2008 and US$41,590,000 at Dec. 31, 2007. The Company's gross reserves for losses and loss adjustment expenses relating to A&E claims were US$56,957,000 at Dec. 31, 2008 and US$60,836,000 at Dec. 31, 2007. Net incurred losses and loss expenses for reported A&E claims were about US$440,000 in 2008, US$7,029,000 in 2007, and US$3 million in 2006. Net paid losses and loss expenses for reported A&E claims were about US$2,384,000 in 2008, US$2,912,000 in 2007, and US$2,980,000 in 2006. Headquartered in Greenwich, Conn., W. R. Berkley Corporation is an insurance holding company and commercial lines writer. The Company operates in five segments: Specialty lines of insurance, Regional commercial property casualty insurance, Alternative markets, Reinsurance, and International. |
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