AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) of Berkley International Seguros México S.A. (BISM) to 'aa' (Superior) from 'aa-' (Superior). The agency affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Mexico National Scale Rating (NSR) of 'aaa.MX' (Exceptional). The outlook for the Long-Term ICR has been revised to stable from positive, while the outlooks for the FSR and NSR remain stable.

The upgrade reflects the improved balance sheet strength fundamentals of the W. R. Berkley Insurance Group (Berkley Group), driven by a robust investment portfolio and consistent organic surplus growth over the past decade. BISM is a member of the Berkley Group, which AM Best assesses as having the strongest level of balance sheet strength, strong operating performance, a favorable business profile, and appropriate enterprise risk management (ERM). The group’s strong debt leverage and capital commitments further support the ratings.

BISM’s ratings are derived from its integration with its parent, W. R. Berkley Corporation, regarding corporate goals, underwriting, and ERM, as well as substantial reinsurance support from Berkley Insurance Company (BIC). The company maintains a strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by a sound capital position and a five-year compound annual growth rate of 29% due to reinvestment of earnings. This capitalization is further strengthened by 95/5 percent quota share and excess of loss contracts provided by BIC.

Formed in November 2016, BISM is one of W. R. Berkley’s two Mexico subsidiaries. It received regulatory approval for operations in June 2017 and issued its first policy in July of that same year. The company offers a diversified slate of property/casualty products, backed by treaty and facultative reinsurance contracts with BIC. BISM has grown its business volume over the past nine years, generating positive bottom-line results in 2025 with MXN $98.6 million in net income, underpinned by premium sufficiency and investment income.

The stable outlooks reflect AM Best’s expectation that the group will maintain its balance sheet strength assessment in the strongest range over the intermediate term. Negative rating actions could occur if the balance sheet strength of the ultimate parent deteriorates materially, while positive actions would depend on the parent’s operating performance metrics aligning more closely with a very strong assessment.

W. R. Berkley Corporation has appointed John Enright as president of Berkley Specialty London and chief executive officer of W. R. Berkley Syndicate Management Limited, effective July 1, 2026, subject to regulatory approval. Enright succeeds James Hastings, who will continue to serve in a corporate role at Berkley and support the transition. The leadership change impacts the Lloyd’s managing agent for W. R. Berkley Syndicate 1967.

Enright brings nearly 20 years of experience in the insurance industry, spanning strategy, operations, finance, and technology with a focus on London and international markets. Most recently, he served as the chief operating officer of Berkley Specialty London.

W. Robert Berkley, Jr., chairman, president and chief executive officer of W. R. Berkley Corporation, highlighted Enright's expertise. "John is a proven executive with deep expertise in the London and international markets, who is well-suited to lead the talented team at Berkley Specialty London," Berkley said. He also acknowledged the contributions of the outgoing president, noting, "James has done a tremendous job in moving the business forward over the last five years, and we are pleased that he will continue to share his talent and expertise with the broader group."

Berkley Specialty London provides global specialty insurance solutions across the Specialty Property and Specialty Casualty sectors. The company tailors its products to specific classes and industries. W. R. Berkley Corporation, founded in 1967, operates worldwide in the Insurance and Reinsurance & Monoline Excess segments and ranks among the largest commercial lines writers in the United States.

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