Fitch affirms W.R. Berkley

Fitch Ratings said it affirmed all ratings for W.R. Berkley Corp. and related property/casualty operating subsidiaries. These ratings include Berkley's A- issuer default rating, as well as its senior debt, subordinated debt, and insurer financial strength ratings.

The outlook is stable.

Fitch said its rating affirmation reflects Berkley's strong niche market positions in several lines with a strong underwriting culture, modest exposure to catastrophe losses, and favorable long-term financial results, partially offset by average (albeit improved) capitalization and relatively high financial leverage.

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