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W.R. Berkley consolidates Verus and Vela into Berkley Meridian
Berkley Meridian will unify underwriting across construction, professional liability, garage and other casualty lines, with integration planned through early 2027.
W.R. Berkley Corporation has formed Berkley Meridian, a new specialty insurance business that combines Verus Specialty Insurance and Vela Insurance Services under a single leadership structure, Insurance Business reports. Marlo Morrison, who has led Verus Specialty since 2019, will serve as president of the combined unit.
Integration between the two businesses has started and is expected to continue into early 2027. Berkley Meridian will bring together underwriting capabilities across construction, professional liability, garage and other casualty lines, while keeping the units' existing focus on the excess and surplus wholesale broker market.
The move marks a structural shift from W.R. Berkley's long standing decentralized operating model, which the company and industry analysts have credited for underwriting discipline and fast responses to local conditions. The consolidation is also occurring about a year after Vela named Shadi Albert as its president in mid 2025, with Morrison taking the combined leadership role rather than Albert.
Insurance Business notes the change comes alongside other leadership and structural updates across Berkley's specialty units in 2026, including a new president at Berkley Southeast earlier in the year and a recent restructuring at Berkley Risk. W. Robert Berkley Jr., chairman, chief executive and president of W.R. Berkley, said the combination is intended to pair two teams to expand service for distribution partners and customers.