W.R. Berkley

Commercial insurance company.

Go To

Fortune 500 Job Source

Connecticut Job Source

Add Your Resume

Headquarters: 475 Steamboat Road
Greenwich, CT 06830
Employees: 4,736
CEO: William R. Berkley
Stock Symbol: BER

Website: http://www.wrbc.com

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.

Regional. 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.
Alternative Markets. The Alternative Markets units develop and administer self-insurance programs and other alternative risk transfer mechanisms, and also write specialized workers' compensation insurance. Workers' compensation business is the main focus of the segment. 2004 Results: Total revenues advanced 36% to $750 million. Pre-tax income was $129 million, up 52%.

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

main ny job source