Timeline
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, Inc. 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, Ltd. formed from Firemen’s Habitational Division.
Enters risk management and administration services sector forming Berkley Risk Administrators Company, LLC.
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, Inc. 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, Inc. 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, LLC.
Formed Berkley Underwriting Partners, LLC and Berkley Technology Services, LLC.
2002
B F Re Underwriters, LLC formed to underwrite casualty facultative reinsurance on a direct basis.
2003
Admiral Excess Underwriters formed to write excess casualty.
Berkley Risk Solutions, Inc. 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 LLC formed and renewal rights to a Specialty Casualty book of business acquired.
2005
Formed Berkley Accident & Health, LLC, Berkley Aviation, LLC, Berkley Net Underwriters, LLC, Berkley Regional Specialty Insurance Company, and Watch Hill Fac Management, LLC.
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, LLC and Select Specialty Managers, LLC.
Acquired American Mining Insurance Company.
Done the Right Way 
