reports
- Roger Leboff
Further strong momentum in PM division reported
The consistent performance by R&Q’s Program Management (PM) division puts it comfortably on track to achieve its stated targets and our forecasts. As an operationally geared operation, we anticipate a notable step-up in profitability as Gross Written Premium (GWP) builds on the back of a larger program base. A positive Group outlook is supported by the creation, announced in September, of Gibson Re, a ‘sidecar’ which transforms the group’s Legacy division into a what is effectively an asset ma...
Moody’s rates W. R. Berkley's senior notes Baa1
New York , September 9, 2021 – Moody's Investors Service ("Moody's") has assigned a Baa1 rating to $350 million of senior notes due 2061 being issued by W. R. Berkley Corporation (W. R. Berkley). The company will use net proceeds from the offering for general corporate purposes. The rating outlo...
- Roger Leboff
Accelerated growth in FY20 fuels momentum
FY20 results confirmed the rapid momentum building behind both group divisions. Legacy made particularly strong progress, on the back of more urgent need for owners of legacy assets to free up capital during 2020. Program Management is firmly on track, reporting strong growth in contracted GWP in FY20 and to the end of Q1 2021. For context, the ‘accelerated progress’ referred to in the results’ report is the result of RQIH’s decision to move quickly to capitalise upon opportunities thrown up b...
Moody’s rates W. R. Berkley's senior notes Baa1
New York , March 9, 2021 – Moody's Investors Service, ("Moody's") has assigned a Baa1 rating to $400 million of senior notes due 2052 being issued by W. R. Berkley Corporation (W. R. Berkley). The company will use net proceeds from the offering to repay at maturity $76.5 million of senior notes ...
Moody’s rates W.R. Berkley's subordinated notes Baa2(hyb)
New York , February 10, 2021 – Moody's Investors Service, ("Moody's") has assigned a Baa2(hyb) rating to $300 million of 40-year subordinated notes, issued by W.R. Berkley Corporation (W.R. Berkley). The company will use net proceeds from the offering to redeem the company's $110 million aggrega...
- Roger Leboff
Record first half, momentum building
The recent interims confirmed that Covid-19 was minimally disruptive operationally in H1 20 and, ironically, may have improved both of R&Q’s divisions’ medium-term trading outlooks. As the pandemic and other industry events have generated significant losses for insurers, they have created the current ‘hardening’ market driving demand for Legacy and Program Management. The group reported a 30% increase in interim pre-tax operating profit to £10.4m. Economic commissions revenue was 88% up y o y ...
Moody’s rates W. R. Berkley's subordinated notes Baa2(hyb)
Rating Action: Moody’s rates W. R. Berkley's subordinated notes Baa2(hyb) 16 September 2020 New York, September 16, 2020 – Moody’s Investors Service, (“Moody’s”) has assigned a Baa2(hyb) rating to approximately $250 million of 40-year subordinated notes, issued by W. R. Berkley Corporation (W. R. Berkley) off its multi-purpose shelf registration. Net proceeds from the offering are expec
Moody’s maintains Baa1 rating on W. R. Berkley's upsized senior note i...
Announcement: Moody’s maintains Baa1 rating on W. R. Berkley's upsized senior note issuance 1 September 2020 New York, September 1, 2020 – Moody’s Investors Service, (“Moody’s”) maintains a Baa1 rating on W.R. Berkley Corporation’s 30-year senior unsecured note issuance, which the company is upsizing by $170 million to a total of $470 million. The notes are being issued off W.R. Berkley
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