WR Berkley 2Q17 Earnings Call Notes

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Robert Berkley

A ground swell of competition

“Without a doubt there is a grown ground swell of competition. You can see it manifesting itself in a couple of difference ways. A couple of macro observations will be the standard markets, particularly national carrier seems to be expanding their appetite and spilling over into what a while had been viewed as specialty market exposure. We also are seeing a state-assigned risk plan beginning to depopulate, again as carriers are I guess expanding their appetite if you will.”

Insurance Tech has become the flavor of the day

“Few other macro comments from my perspective on the marketplace, overall. Certainly over the past several years we have seen more and more progress and to a certain extent chatter and buzz around data and analytics. More recently there have been new technologies that are developed and Ensure Tech has become sort of the flavor of the day to a certain extent. Having said this, we think all of these tools have great value and we are users of them and quite frankly we are investors in some Ensure Tech opportunities. Having said that for our perspective, when the day is all done these are just tools and ultimately how effective they are, how helpful they are will be determined by the people who are using them and the expertise that they have”