W. R. Berkley has appointed Shadi Albert as the new president of its subsidiary, Vela Insurance Services, succeeding Arthur Davis.
Davis will transition to the role of chairman, providing guidance during the changeover period, the company said.
As a W. R. Berkley company, Vela Insurance specialises in providing excess and surplus lines casualty and professional liability insurance solutions across four distinct market segments.
Albert joined Berkley in 2023 as president of Berkley Luxury Group. His prior experience includes serving as executive vice-president of strategy and business development at a major US insurance group.
Davis, who has been with Vela since 2018, initially joined as the senior vice-president and chief underwriting officer before becoming president in 2019.
W. R. Berkley Corporation CEO and president W. Robert Berkley, Jr. said: “We thank Art for his service and are grateful that he will assist in facilitating a smooth transition. We are excited for Shadi to take on this new role.
“His proven leadership and depth of experience will complement the expertise of Vela’s talented team in delivering exceptional service to its brokers and clients.”
W. R. Berkley is an insurance holding company established in 1967 and engages in the property casualty insurance business globally through its insurance and reinsurance & monoline excess segments.
W.R. Berkley Corporation reported a net income to common stockholders of $417.6m for the first quarter of 2025 (Q1 2025), a 5.6% decline from the $442.4m reported in the previous year.
The company’s operating income for Q1 2025 was $404.7m, down from $423.3m in Q1 2024.
W.R. Berkley Corporation saw an increase in net premiums written, which rose to $3.1bn from $2.8bn in the same quarter of the previous year.
“W. R. Berkley announces leadership transition at Vela Insurance ” was originally created and published by Life Insurance International, a GlobalData owned brand.
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