WR Berkley placed on negative watch by Fitch

Fitch Ratings has placed WR Berkley on negative rating watch due
to an expected increase in the carrier's financial
leverage.
The decision was a result of WR Berkley's recently announced
issuance of $290mn of subordinated debentures, Fitch said yesterday
(24 May).
The carrier's financial leverage ratio subsequently
increased to 36.1 percent from the reported level of 33.4 percent
on 31 March 2016.
Fitch had previously warned that an increase in the financial
leverage ratio beyond 35 percent woul