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W.R. Berkley creates Berkley Meridian by merging Verus and Vela
Berkley Meridian is expected to complete the integration of Verus Specialty Insurance and Vela Insurance Services into early 2027, while keeping the companies focused on the excess and surplus wholesale broker market.
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 served as president of Verus Specialty since 2019, will lead the combined business as president. Integration between the two units 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 maintaining both units' existing focus on the excess and surplus wholesale broker market. W. Robert Berkley Jr., chairman, chief executive and president of W.R. Berkley, said the combination brings together two teams to deliver a broader service offering.
The move also follows leadership changes at the underlying units. Vela named Shadi Albert as its president in mid-2025, and Berkley Meridian's formation comes roughly a year into that appointment, with Morrison taking the combined leadership role rather than Albert.