W. R. Berkley Corp. is expected to withdraw from the U.S. aviation market over the next few months, The Insurance Insider reported.
The decision was reportedly made after a review of the business line. Sources reportedly told Insurance Insider that a number of aviation-related employees are expected to remain with the company during the withdrawal process to help it comply with regulatory requirements.
The future of the aviation portfolio at the group's WRB Underwriting Lloyd's business is also reportedly being reviewed; some brokers reportedly anticipate that W. R. Berkley will put the portfolio into run-off.
