Berkley names new president for E&S unit Vela

W.R. Berkley Corp. announced Friday that it named Shadi Albert the new president of its Vela Insurance Services unit.

Mr. Albert succeeds Arthur G. Davis, who becomes chairman of Vela, which provides excess and surplus lines insurance. The moves are effective immediately.

Mr. Albert joined Berkley in 2023 as president of Berkley Luxury Group. Before that he worked for Selective Insurance Group Inc., Willis Towers Watson PLC, Aon PLC and Guy Carpenter & Co. LLC, according to his LinkedIn profile.

Vela accounted for 2.5% of Berkley’s gross written premium in 2024, according to the company’s annual report, which would be $316.6 million based on a total of $12.66 billion in the insurance segment. Berkley Luxury Group accounted for 0.7% of gross written premium last year.

Note: The gross written premium figures have been corrected to indicate they are from W.R. Berkley’s insurance segment.