María Luisa Ferré
Director at WRB
Board
About María Luisa Ferré
Independent director of W. R. Berkley Corporation (WRB) since 2017; age 61. CEO of FRG, LLC with deep operating experience across media, real estate and customer engagement; publisher of El Nuevo Día and Primera Hora; long-standing director at Popular, Inc. Her WRB term expires in 2026; she is classified as independent. Core credentials include executive leadership, communications, sustainability, and governance.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FRG, LLC | Chief Executive Officer | 2001–present | Leads diversified holdings in media, real estate, contact centers and distribution; executive leadership and oversight experience |
| GFR Media, LLC | Director; Chair (former) | Director since 2003; Chair 2006–Feb 2016 | Publisher oversight; communications expertise |
| El Nuevo Día; Primera Hora | Publisher | Since 2006 | Media and publishing leadership |
| The Luis A. Ferré Foundation, Inc. | President and Trustee | Since 2003 | Nonprofit governance |
| Multisensory Reading Center of PR, Inc. | President, Board of Directors | Since 2012 | Education/community impact |
| MoMA Latin American Caribbean Fund | Member | Since 2013 | Arts/community engagement |
| Partnership for Modern Puerto Rico | Director | Since 2019 | Policy/community engagement |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Popular, Inc. | Director | Since 2004 | Chair, Corporate Governance & Nominating; member, Technology; independent; active governance oversight |
| Grupo Ferré Rangel (bio) | Executive profile (education) | — | BA Amherst; MS Boston University (background reference) |
Board Governance
- Committee assignments (WRB): Audit Committee (member), Nominating & Corporate Governance Committee (member). Audit met 11x; NCGC met 2x in 2024.
- Independence: WRB board has 8 of 10 independent directors; Ferré is independent.
- Attendance and engagement: All directors attended 100% of WRB board meetings in 2024; most directors attended 100% of their committee meetings.
- Tenure and refreshment: Director since 2017; classified board with staggered terms, average independent director tenure post-2025 meeting of 9.1 years.
- Lead independent director function: Rotating presiding director among committee chairs/non-management executive committee members at executive sessions, effectively sharing lead independent responsibilities.
- Director stock ownership and retention: Annual equity grant is a substantial portion of compensation; shares must be held until a director leaves the board; ownership guideline requires 5× annual stipend after 4 years—WRB states all non-management directors meeting service threshold exceed guidelines.
- Alignment and risk policies: Anti-hedging for directors; anti-pledging for shares used to satisfy ownership requirements; robust codes of ethics.
Fixed Compensation
| Component | Structure | 2024 Amount (Ferré) |
|---|---|---|
| Annual cash stipend | $96,000; paid quarterly | $96,000 (included in cash total) |
| Committee membership stipends | $5,500 for Audit and Compensation Committee members; (Ferré is Audit and NCGC member; NCGC stipend not listed) | Included in cash total |
| Committee chair fees | $38,500 for Audit/Comp chairs (Ferré not a chair at WRB) | $0 |
| Board meeting fees | $2,000 per board meeting | Included in cash total |
| Committee meeting fees | $1,500 per substantive meeting | Included in cash total |
| Total cash (2024) | Fees earned or paid in cash | $123,000 |
Performance Compensation
Directors receive annual equity grants (time-based; held until service ends). No performance metrics are applied to director equity awards.
| Equity Grant | Grant Date | Shares | Grant-Date Fair Value |
|---|---|---|---|
| Annual director common stock grant | June 11, 2024 | 3,801 shares | $200,067 |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes |
|---|---|---|---|
| Popular, Inc. | Director (independent) | Chair, Corporate Governance & Nominating; member, Technology | Long-standing governance leadership; potential informational networks between insurance investor and bank board; no WRB-related party transactions disclosed. |
Expertise & Qualifications
- Executive leadership across diversified businesses; communications/publishing; sustainability; diversity/inclusion; governance; management and oversight.
- Education: BA Amherst College (magna cum laude), MS Boston University (with honors).
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Pledging/Hedging |
|---|---|---|---|
| María Luisa Ferré | 53,368 | <1% | No pledging noted for Ferré; WRB prohibits hedging by directors. |
Director stock ownership guidelines: Directors with ≥4 years of service must hold stock equal to 5× annual stipend ($480,000 at $96,000 stipend); WRB states all such directors are above guideline, implying Ferré meets/exceeds requirements.
Insider Trades
| Date | Filing | Security | Transaction | Notes/Description |
|---|---|---|---|---|
| June 11–13, 2025 | Form 4 | Common Stock | Acquisition by grant | Annual director stock award under W. R. Berkley Corporation Directors Stock Plan (terms as disclosed in plan). |
| June 11, 2024 | Director equity grant | Common Stock | Grant | 3,801 shares; $200,067 fair value; shares held until no longer serving on the board. |
Governance Assessment
- Committee effectiveness: Active Audit and NCGC participation; strong governance processes (majority voting, executive sessions, rotating presiding director, board/committee self-evaluations).
- Independence and attendance: Independent; 100% board meeting attendance; robust committee cadence (Audit 11; NCGC 2 in 2024).
- Ownership alignment: Meaningful personal ownership; annual equity grants held until departure; guidelines met; anti-hedging/anti-pledging reinforce alignment.
- Compensation mix: Material equity component ($200k grant) alongside modest cash fees ($123k), consistent with investor alignment.
- Conflicts/related-party exposure: WRB discloses related-party oversight via Business Ethics Committee; 2024 related-party items did not involve Ferré; no WRB transactions with Popular tied to her role disclosed.
- Shareholder sentiment: Strong say-on-pay support (96.1% in prior year outreach; 2024 vote For: 228.6M, Against: 9.2M). Signals positive governance confidence.
RED FLAGS: None disclosed specific to Ferré (no attendance shortfalls, no pledging, no related-party transactions tied to her). Monitor interlocks for potential perceived conflicts due to Popular, Inc. board service; WRB process (Business Ethics Committee) oversees potential conflicts.