475 Steamboat Road
W. R. Berkley Corporation, founded in 1967, is one of the nation's premier commercial lines property casualty insurance providers.
The company operates in five segments of the property casualty insurance business: specialty insurance, alternative markets, reinsurance, regional property casualty insurance and international. Each subsidiary defines its market by customer, product, class of risk, or geographic territory.
In 2004, W.R. Berkley had revenues of $4.5 billion and net income of $438.1 million. The company has assets of over $11 billion.
Here are company results by division:
Specialty. The Specialty units underwrite complex and sophisticated risks, including general, professional and product liability coverages as well as commercial transportation business, primarily on an excess and surplus lines basis. 2004 Results: Total revenues increased 32% to $1.6 billion. Pre-tax income rose 44% to $290 million.
The Regional units, which are leaders in their local markets,
write commercial lines coverages for small and mid-sized business
firms and governmental entities. This segment also writes surety
coverages. 2004 Results: Total revenues advanced 20% to
$1.1 billion. Pre-tax income increased 20% to $184 million.
Reinsurance. The Reinsurance units write reinsurance on both a facultative and treaty basis. In addition, the Company writes business under quota share reinsurance agreements with two Lloyd's syndicates and participates in several specialty niches. 2004 Results: Total revenues rose 16% to $947 million. Pre-tax income increased 45% to $87 million.
International. The Company's International joint venture operates in Argentina and Asia. 2004 Results: Total revenues increased 15% to $82 million. Segment pre-tax income increased 133% to $7 million.
Updated December 10, 2005