W. R. Berkley Corporation (NYSE: WRB) today announced an agreement to sell a wholly-owned investment, Aero Precision Industries, and certain related aviation services businesses. The Company expects to realize a pre-tax gain of approximately $130 million on the sale, which is expected to close in the third quarter of 2016. The closing of the transaction is subject to customary conditions.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance.