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April-May Storms Cost W.R. Berkley an Estimated $65 Million

Posted on 23 Jun 2011

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W.R. Berkley Corporation reported estimated pre-tax losses of approximately $65 million from the numerous severe U.S. storms that occurred in April and May 2011.

The company's loss estimate is net of reinsurance and includes reinstatement premiums. Today's preliminary estimate of pre-tax storm losses for April and May exceeds the losses contemplated in the W.R. Berkley budget for the full second quarter by approximately $35 million.

W.R. Berkley will release its second quarter 2011 earnings after the market closes on Monday, July 25, 2011.