Fitch affirms W.R. Berkley

Fitch Ratings said it affirmed W.R. Berkley Corp.'s A- issuer default rating and BBB+ senior debt ratings.

The outlook is stable.

Ratings consider the company's strong niche market positions in several lines, minimal exposure to catastrophe losses, good long-term financial results and a strong underwriting culture, according to the agency.

These strengths are partly offset by Berkley's somewhat more volatile performance over the longer term and uncertainty surrounding the company's loss reserve levels due to its focus on long-tailed lines, Fitch said.

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