W. R. Berkley

 W. R. Berkley, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines. 

The company also provides workers’ compensation, property casualty, general liability, professional liability, and excess and umbrella coverage insurance products. As well as coverages for technology, ambulatory surgery centres, chiropractors, and concierge physicians; accident and health insurance and reinsurance products; insurance for commercial risks; pollution liability and coverages to contractors, consultants, and owners; and liquor liability and inland marine coverage for small to medium-sized insureds. 

Moreover, this segment offers directors and officers, and surety risk products, as well as products for life sciences and travel industries; coverage for excess liability, construction wrap-ups, and completed operations; cyber risk solutions; casualty, group life, and crime-related insurance products; personal lines insurance solutions, including home, condo/co-op, and collectables; automobile, law enforcement, public officials and educator's legal, and employment practices liability, as well as incidental medical insurance products; and at-risk and alternative risk insurance program management services. 

The Reinsurance segment provides other insurance companies and self-insureds with assistance in managing their net risk through reinsurance on a portfolio basis through treaty reinsurance or on an individual basis through facultative reinsurance. William R. Berkley was founded in 1967. It has its headquarters in Greenwich Connecticut.

1967: Public Company Incorporated as Fine-Vest Services, Inc. W. R. Berkley Corporation was founded by William R. Berkley, who currently serves as Executive Chairman.

1972: The Company entered the insurance market through the acquisition of Houston General Insurance Company.

1973: The Union Insurance Company was organized in Nebraska, while Traders & General Insurance Company was acquired. The company went public by the end of the year. 

1979: The Company entered the speciality insurance market through the purchase of Admiral Insurance Company.

1981: The company captured major profits through their large list of insurance companies in its portfolio. In a new venture, the National Guardian Corporation started, focused on the installation of alarm systems. 

1986: Regional operations expanded with the acquisition of Continental Western Insurance Company, and Clermont Specialty Managers was formed from the Firemen’s Habitational Division.

1987: The company was employing 6,000 workers, generating income of $5.5 million annually, and providing alarm and security guard services throughout the northeastern United States. In addition to National Guardian, Berkley launched Finevest Services Inc. The Company’s total assets surpassed the $1 billion mark, total revenues exceeded the half-billion dollar level, and net worth rose above the one-quarter billion-dollar mark.

1988: Finevest Foods was distributing more than 2,200 frozen food products to 18 states.

1995: With an estimated net worth approaching $500 million, Berkley had achieved his youthful goal of becoming one of the wealthiest men in the United States. Revenues passed the $1 billion mark as the Company continued to expand. The company acquired the remaining 40% interest in Signet Star from Gen Re.

1998: A fall in earnings in 1998 and a loss in 1999. W.R. Berkley created Preferred Employers Insurance Co. to operate in California's workers' compensation market.

2000: The company announced plans to sell auto insurance through Priceline.com.

2001: Eyeing London as a key growth area, W.R. Berkley purchased a 20.1 percent stake in Kiln plc, Lloyd's insurer that had experienced significant losses due to the September 11, 2001, terrorist attacks against the United States. The company reached a major milestone when it moved the listing of W. R. Berkley Corporation's common stock to the New York Stock Exchange (NYSE). The Company entered the medical malpractice market with the formation of Berkley Medical Excess Underwriters.

2003: The company launched W.R. Berkley Insurance Europe Ltd. in London to write professional indemnity insurance.

2004: Berkley Specialty Underwriting Managers was formed and the renewal rights to a speciality casualty book of business were acquired. Employees: 4,736. Total Assets: $11.45 billion (2004).

2005: The Company formed Berkley Accident & Health, Berkley Aviation, Berkley Net Underwriters, Berkley Regional Specialty Insurance Company, and Watch Hill Fac Management.

2006: In August, the company acquired Garnet Captive Services LLC, a San Francisco insurance brokerage and alternative risk consulting firm.

2007: W. R. Berkley Corporation was named Best Managed Insurance Company by Forbes Magazine and set a new record during our 40th Anniversary year by earning $744 million. Berkley Life Sciences, Berkley Select and Berkley Re Australia were all formed in 2007, and the American Mining Insurance Company was acquired in the same year.

2008: Berkley Asset Protection Underwriters, FinSecure, Berkley Canada, Berkley Professional Liability and Berkley Offshore Underwriting Managers were all formed.

2015: Berkley International Seguros Colombia, Berkley Construction Professional Liability Underwriters, and Berkley Global Product Recall Management were all formed this year.

2016: The Company announced its entry into the high-net-worth personal lines market with Berkley One.

2021: The Company formed Berkley Management Professional and Berkley Small Business Solutions. W. R. Berkley Corporation reached several new milestones, with record 2021 gross and net premiums written of $10.7 billion and $8.9 billion, respectively, as well as record full-year underwriting income and net income of $845.3 million and $1.0 billion, respectively.

“To achieve sustainable, long-term value. Since our founding in 1967, we've managed our business to limit volatility and optimize risk-adjusted returns and stayed true to our core values of fairness and transparency to clients, employees and shareholders alike.”

"Always do right. This will gratify some people and astonish the rest."