W. R. Berkley Corporation

W. R. Berkley Corporation is a commercial lines property & casualty insurance holding company organized in Delaware and based in Greenwich, Connecticut.[1]

W. R. Berkley Corporation
Public
Traded as
ISINUS0844231029 
IndustryInsurance
Founded1967 (1967)
FounderWilliam R. Berkley
HeadquartersGreenwich, Connecticut, U.S.
Key people
William R. Berkley, Executive Chairman
W. Robert Berkley Jr., President & CEO
Revenue $7.691 billion (2018)
$0.640 billion (2018)
Total assets $24.895 billion (2018)
Total equity $5.479 billion (2018)
Number of employees
7,448 (2018)
Websiteberkley.com
Footnotes / references
[1]

The company operates commercial insurance businesses in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia and reinsurance businesses in the United States, United Kingdom, Continental Europe, Australia, the Asia-Pacific region and South Africa.[1]

The company is ranked 397th on the Fortune 500.[2]

History

W. R. Berkley Corporation was founded in 1967 by William R. Berkley, who currently serves as Executive Chairman.[3]

In November 1973, the company became a public company via an initial public offering. At that time, the founder owned 23.8% of the company.[3]

In 1994, the company acquired Key Risk Management Services Inc.[4]

In 1995, the company acquired the remaining 40% interest in Signet Star from Gen Re.[5] The company also acquired MECC for $138 million.[6]

In August 2006, the company acquired Garnet Captive Services LLC, a San Francisco insurance brokerage and alternative risk consulting firm.[7]

On October 31, 2015, Mr. Berkley's son, W. Robert Berkley, Jr., became President and CEO.[8]

References
  1. "W. R. Berkley Corporation 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "W.R. Berkley". Fortune.
  3. "W. R. BERKLEY CORPORATION SCHEDULE 14A INFORMATION". U.S. Securities and Exchange Commission. May 9, 2013.
  4. "Berkley Adds Key Risk". The New York Times. Bloomberg News. November 5, 1994.
  5. "COMPANY NEWS; W. R. BERKLEY TO BUY REMAINING STAKE IN REINSURER". The New York Times. Bloomberg News. July 21, 1995.
  6. "COMPANY NEWS; W. R. BERKLEY TO ACQUIRE MECC FOR $138 MILLION". The New York Times. Bloomberg News. September 15, 1995.
  7. "W.R. Berkley buys SF captive insurance specialist". American City Business Journals. August 1, 2006.
  8. "W. R. Berkley Corporation Continues Succession Plan" (Press release). Business Wire. August 4, 2015.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.