The son of the founder and CEO of US insurer WR Berkley is to take over as President and COO of the company.

Rob Berkley joined the company in 1997 and has served as Executive Vice President since August 2005, overseeing the company’s domestic insurance operations, including its specialty, regional and alternative markets businesses.

The 36-year-old will now manage all of the company’s operating units and oversee reinsurance and international segments.

Mr Berkley previously worked as an investment banker at Merrill Lynch and is also currently Chairman of the Board of NCCI Holdings, an industry-based organisation that manages the US’s largest database of workers’ compensation insurance information.