International ratings agency Moody's has raised its outlook on the debt ratings of insurance holding company WR Berkley, on improved earnings prospects and reduced financial leverage.
The outlook on the US-based company's debt was raised to stable from negative. WR Berkley carries a senior debt rating of Baa2.
Moody's said the company had a diversified revenue stream in all segments of the property/casualty business, a high quality investment portfolio and a disciplined approach to underwriting.
It added that both the company's and the industry's prospects were favourable given rising premium rates across all lines of business.
