W. R. Berkley Corporation
About Us
 

Timeline

1967

1972

1973

1974

1975

1979

1982

1985

1986

1987

1992

1993

1994

1995

1996

1997

1999

2000

2001

2002

2003

2004

2005

2007

2008

2009

2010

2011

2012

2013

About W. R. Berkley Corporation

W. R. Berkley Corporation, founded in 1967, is one of the nation’s premier commercial lines property casualty insurance providers. Each of the operating units in the Berkley group participates in a niche market requiring specialized knowledge about a territory or product. Our competitive advantage lies in our long-term strategy of decentralized operations, allowing each of our units to identify and respond quickly and effectively to changing market conditions and local customer needs. This decentralized structure provides financial accountability and incentives to local management and enables us to attract and retain the highest caliber professionals. We have the expertise and resources to utilize our strengths in the present environment, and the flexibility to anticipate, innovate and respond to whatever opportunities and challenges the future may hold.

1967

Berkley Dean & Company, Inc. formed at Harvard Business School with $2,500.

1972

Enters the insurance market through the acquisition of Houston General Insurance Company.

1973

Union Insurance Company organized in Nebraska.

Traders & General Insurance Company acquired.

1974

Tri-State Insurance Company of Minnesota organized in Luverne, Minnesota.

Houston General Insurance Company and Traders & General Insurance Company sold.

W. R. Berkley Corporation goes public October 19, 1973, hours before the Arab Oil Embargo is announced.

1975

Enters the reinsurance market by organizing Signet Reinsurance Company and acquiring Reinsurance Underwriters Corporation.

Union Standard Insurance Company acquired to write business in Texas, Oklahoma and Arkansas.

WRBC institutes policy of paying a regular cash dividend.

1979

Enters the Specialty insurance market through the purchase of Admiral Insurance Company.

1982

Firemen's Insurance Company of Washington, D.C. acquired.

1985

Acquired Carolina Casualty Insurance Company.

Firemen’s Habitational Division established to write coverages for high-end real estate in the Northeast.

Facultative ReSources formed to write casualty facultative reinsurance.

Nautilus Insurance Company formed to write smaller excess and surplus lines risks.

1986

Regional operations expanded with acquisition of Continental Western Insurance Company.

Clermont Specialty Managers formed from Firemen’s Habitational Division.

Enters risk management and administration services sector forming Berkley Risk Administrators Company.

1987

Total assets surpass the $1 billion mark, total revenues exceeded the half-billion dollar level, and net worth rises above the one-quarter billion dollar mark.

1992

Acadia Insurance Company formed as new Regional company in Maine.

Enters the directors’ and officers’ liability insurance business with formation of Monitor Liability Managers.

1993

Chesapeake Insurance Division of Firemen’s Insurance in Richmond, Virginia and Great River Insurance Company in Meridian, Mississippi established.

1994

Key Risk Management Services acquired to bolster services segment’s capabilities and add critical managed care capabilities.

Expands overseas through the purchase of 80% of Independencia Insurance Company of Argentina.

1995

Establishes Presque Isle, Berkley Surety Group, and Berkley Insurance Company of the Carolinas.

Acquires Midwest Employers Casualty Company and a controlling interest in La Union Gremail de Seguros S.A. in Argentina.

Revenues pass $1 billion mark during the year.

1996

Vela Insurance Services formed to write contractor and liability coverage on an excess and surplus lines basis.

1997

Berkley International acquires two additional insurance companies.

1999

Regional companies consolidated to reduce costs, and enhance size and scale while retaining local relationships and knowledge to provide better competitive positions.

Preferred Employers Insurance Company formed to provide workers’ comp coverage for small employers in California.

2000

Reinsurance segment withdraws from commodity-type reinsurance, such as pro-rata and property lines, to focus on specialty businesses.

Regional segment repositioned to emphasize commercial business and targeted niches and withdraws from personal lines.

2001

W. R. Berkley Corporation lists its common stock on the New York Stock Exchange (NYSE).

Enters the medical malpractice market with the formation of Berkley Medical Excess Underwriters.

Formed Berkley Underwriting Partners and Berkley Technology Services.

2002

B F Re Underwriters formed to underwrite casualty facultative reinsurance on a direct basis.

2003

Admiral Excess Underwriters formed to write excess casualty.

Berkley Risk Solutions formed to provide insurance and reinsurance financial solutions to insurance companies and self-insured entities.

W.R. Berkley Insurance (Europe) Limited formed to write U.K. casualty risks.

2004

W. R. Berkley Corporation joins the ranks of Fortune 500 in April 2004 with $3.6 billion in revenue and $1.7 billion in stockholders’ equity at year end 2003.

Berkley Specialty Underwrting Managers formed and renewal rights to a Specialty Casualty book of business acquired.

2005

Formed Berkley Accident & Health, Berkley Aviation, Berkley Net Underwriters, Berkley Regional Specialty Insurance Company, and Watch Hill Fac Management.

Expands overseas forming Berkley Insurance Company Hong Kong Reinsurance Division, Berkley International do Brasil Seguros, S. A., and W. R. Berkley Insurance (Europe), Limited, Sucursal en Espana.

2007

Named Best Managed Insurance Company by Forbes Magazine.

Formed Berkley Life Sciences, Berkley Select and Berkley Re Australia.

Acquired American Mining Insurance Company.

Set new record during 40th Anniversary year, earning $744 million. Total assets surpassed $16.8 billion, total revenues exceeded $5.5 billion, and net worth reached $3.7 billion.

2008

Formed Berkley Asset Protection Underwriters

Formed FinSecure

Formed Berkley Canada

Formed Berkley Professional Liability

Formed Berkley Offshore Underwriting Managers

2009

Formed Admiral Professional Programs

Formed Berkley Agribusiness Risk Specialists

Formed Gemini Transportation Underwriters

Formed W. R. Berkley Syndicate 1967 at Lloyds

Formed Berkley North Pacific Group

Formed Berkley Oil & Gas Specialty Services

Formed Regional Excess Underwriters, LLC

2010

Formed Verus Underwriting Managers

2011

Formed Berkley Re UK Limited

Formed Berkley Technology Underwriters

2012

Formed Berkley Public Entity Managers

Formed Berkley Custom Insurance Managers

2013

Formed Berkley Southeast Insurance Group

Formed Berkley Fire & Marine Underwriters

Formed Berkley Design Professional Underwriters