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W.R. Berkley Sees Prices Up For First Time In 17 Quarters

William R. Berkley, chairman and CEO of W.R. Berkley Corp., says the company isn’t planning any celebratory parties, but for the first time in about four years the commercial-lines writer can say prices during a quarter were up, albeit very slightly.

By Chad Hemenway | Updated on May 02, 2011

William R. Berkley, chairman and CEO of W.R. Berkley Corp., says the company isn’t planning any celebratory parties, but for the first time in about four years the commercial-lines writer can say prices during a quarter were up, albeit very slightly.

Berkley says he sees the uptick in prices of nearly 1 percent in nearly all areas as a “real change directionally.” The outspoken executive’s prediction late last year for a turn in the market was off, but now it appears people are behaving differently, as poor underwriting results and low returns on investment income are impacting companies’ thinking, he says.

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