W. R. Berkley Corporation to sell Aero Precision

W. R. Berkley Corporation (NYSE: WRB) has agreed to sell a wholly owned investment, Aero Precision Industries, and certain related aviation services businesses, the company said.

The company said it expects to realize a pre-tax gain of approximately USD130 million on the sale, which is expected to close in the third quarter of 2016.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company operating worldwide in two segments of the property casualty business.