W. R. Berkley Corporation (NYSE: WRB) has established Berkley Meridian, a new specialty insurance business formed through the consolidation of Verus Specialty Insurance and Vela Insurance Services.
The combined entity will operate under the leadership of Marlo M. Morrison, who has served as president of Verus Specialty Insurance since 2019 and brings nearly 30 years of experience in property and casualty insurance. Morrison will oversee Berkley Meridian as its president, leading underwriting operations across construction, professional liability, garage, casualty, and other specialty lines.
Berkley Meridian will focus on the excess and surplus wholesale broker market, leveraging W. R. Berkley’s broader expertise to expand its suite of solutions. Integration of the two businesses has already begun and is expected to continue through early 2027.
W. Robert Berkley, Jr., chairman, CEO, and president of W. R. Berkley Corporation, stated that the new unit will allow the company to "further leverage our expertise to provide a broader and deeper suite of solutions."
Headquartered in Greenwich, Connecticut, W. R. Berkley Corporation was founded in 1967 and operates as an insurance holding company with two primary segments: Insurance and Reinsurance & Monoline Excess. The company ranks among the largest commercial lines writers in the United States and maintains a global presence.
