Fitch affirms W. R. Berkley

Fitch Ratings said it affirmed W. R. Berkley Corp.'s senior debt ratings at BBB+.

The outlook is stable.

The agency said the affirmation reflects Berkley's very strong, long-term financial results with strong capitalization despite higher financial leverage than peers, a strong business profile with a diversified specialty underwriting portfolio and niche market positions in several lines, and modest exposure to catastrophe losses.

These positive factors are partially offset by relatively high financial leverage and reserve risk stemming from long-tail casualty lines, Fitch said.

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