W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide. The company operates in two segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines and specialty personal lines throughout the United States, as well as insurance business in Asia, Australia, Canada, Continental Europe, Mexico, Scandinavia, South America and the United Kingdom. The Reinsurance & Monoline Excess segment provides facultative and treaty reinsurance in the United States, as well as in the Asia Pacific region, Australia, Continental Europe, South Africa and the United Kingdom. Monoline Excess businesses retain risk solely on an excess basis. The company's strategy of decentralized operations allows each of its businesses to identify and respond quickly and effectively to changing market conditions and specific customer needs, while capitalizing on the benefits of centralized capital, investment and reinsurance management, and corporate actuarial, financial, enterprise risk management and legal staff support.

• Employees: 8,329 (as of January 15, 2024)
• Geographic Footprint: More than 60 countries worldwide
• Headquarters: Greenwich, CT
• Founded: 1970
• Number of locations/facilities: Branches or offices in 43 cities outside the United States
• Revenue: $12.14 billion (FY2023)
• Key Subsidiaries/Brands: Acadia Insurance, Admiral Insurance, Berkley Accident and Health, Berkley Agribusiness, Berkley Alliance Managers, Berkley Aspire, Berkley Asset Protection, Berkley Canada, Berkley Construction Solutions, Berkley Custom Insurance, Berkley Cyber Risk Solutions, Berkley E&S Solutions, Berkley Enterprise Risk Solutions, Berkley Entertainment, Berkley Environmental, Berkley Financial Specialists, Berkley Fire & Marine, Berkley Healthcare, Berkley Human Services, Berkley Industrial Comp, Berkley Insurance Asia, Berkley Insurance Australia, Berkley Latinoamérica, Berkley Life Sciences, Berkley Luxury Group, Berkley Management Protection, Berkley Mid-Atlantic Group, Berkley Net Underwriters, Berkley North Pacific, Berkley Offshore Underwriting Managers, Berkley Oil & Gas, Berkley One, Berkley Product Protection, Berkley Professional Liability, Berkley Program Specialists, Berkley Public Entity, Berkley Risk, Berkley Select, Berkley Small Business Solutions, Berkley Southeast, Berkley Specialty Excess, Berkley Surety, Berkley Technology Underwriters, Carolina Casualty, Continental Western Group, Gemini Transportation, Intrepid Direct, Key Risk, Nautilus Insurance Group, Preferred Employers Insurance, Union Standard, Vela Insurance Services, Verus Specialty Insurance, W R B Europe, W/R/B Underwriting, Berkley Re America, Berkley Re Asia Pacific, Berkley Re Solutions, Berkley Re UK, Lloyd's Syndicate 2791 Participation, Midwest Employers Casualty

• CEO: W. Robert Berkley, Jr.
• CFO: Richard M. Baio
• Board Chair: William R. Berkley

• Annual Revenue: $12.14 billion (FY2023)
• Net Income: $1.38 billion (FY2023)
• Total Assets: $37.2 billion (as of December 31, 2023)
• Key Financial Highlights: Net premiums written increased by 10% to $10.95 billion in 2023. Net investment income increased 35% to $1,053 million in 2023.

The company provides a wide range of insurance products and services, including:

• Commercial Insurance: Excess and surplus lines, admitted lines, and specialty personal lines.
• Reinsurance: Facultative and treaty reinsurance.
• Specialty Coverages: Industry-specific and product-specific insurance solutions.
• Fee-Based Services: Claims, administrative, and consulting services.

The company operates through two main segments:

• Insurance: Underwrites commercial and specialty personal lines insurance. In 2023, this segment accounted for 88.2% of net premiums written.
• Reinsurance & Monoline Excess: Provides facultative and treaty reinsurance. In 2023, this segment accounted for 11.8% of net premiums written.

The company's business strategy focuses on:

• Meeting the needs of customers with a focus on niche markets.
• Maintaining a high-quality balance sheet.
• Allocating capital to the best opportunities.
• Developing new businesses internally and through acquisitions.

The company operates in the highly competitive property and casualty insurance industry. Key aspects of the competitive landscape include:

• Competition: From numerous insurance companies of various sizes, as well as other entities offering risk alternatives.
• Pricing: Based on the ability to provide insurance and services at a reasonable price and terms.
• Market Position: The company seeks specialized areas or geographic regions where its businesses can gain a competitive advantage.

• Industry Cyclicality: The property casualty insurance industry is subject to significant fluctuations in demand and pricing.
• Competitive Pressures: The company faces significant competition that can pressure premium rates and affect profitability.
• Reserve Adequacy: Actual claims losses may exceed reserves, requiring the establishment of additional reserves.
• Catastrophic Losses: The company faces potential losses from natural and man-made catastrophes.
• Economic Conditions: Changes in economic conditions, including interest rates and inflation, can impact the company's operations and financial results.