W.R. Berkley Corporation

The group’s notable underwriting performances during 2004 and 2005 reflects the success of its key operating strategy: the relative lack of exposure to commoditised risks in general and property catastrophe risks in particular. So in 2005, when most of its peers suffered significant underwriting losses as a result of exposures to Hurricanes Katrina, Rita and Wilma, W.R. Berkley, which mainly focuses on specialty casualty insurance and reinsurance business, improved its underwriting result by nearly 20.0% to a profit of $560.9mn

With a gross premium income of just over $5.0bn in 2007, the US based W.R. Berkley Corporation is bigger than many of its counterparts in Bermuda and the US which similarly write a portfolio of specialty insurance and reinsurance business. However, unlike many of its peers, W.R Berkley very much maintains the air of a family run business despite being a publicly listed entity. The group is named after William R. Berkley, who established the business in 1967 and who is still in charge as chairman and chief executive. His son, W. Robert Berkley Jr, is, as group executive vice president, is the second most powerful executive in the group.