Business Context and Reporting Period
This Form 8-K filing by W. R. Berkley Corporation (the "Company") was submitted on May 25, 2016. The report discloses changes in the Company's executive leadership structure, specifically regarding the finance and accounting departments.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel appointments and does not contain financial performance data.
Material Changes
The primary material change reported is the reorganization of senior finance leadership effective May 25, 2016:
- Eugene G. Ballard: Previously Executive Vice President and Chief Financial Officer, he was appointed to the role of Executive Vice President - Finance. His oversight now covers the finance, actuarial, and data management departments. He previously served as the chief accounting officer.
- Richard M. Baio: Appointed Senior Vice President and Chief Financial Officer. He will also serve as the Company's chief accounting officer and will continue in his role as Treasurer.
Management Commentary and Background
Richard M. Baio, 47, has been with the Company since May 2009, initially serving as Vice President and Treasurer. He brings over 25 years of experience in the insurance and financial services industry. Prior to joining W. R. Berkley, Mr. Baio served as a director in Merrill Lynch & Co.'s financial institutions investment banking group and as a partner in Ernst & Young's insurance practice.
Investor Verification Checklist
- Confirm the effective date of the leadership transition (May 25, 2016).
- Verify the specific scope of Eugene G. Ballard's new oversight responsibilities (finance, actuarial, and data management).
- Review Richard M. Baio's prior tenure and external experience to assess continuity in financial reporting and treasury management.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for quantitative performance metrics.