W. R. Berkley Corporation · Greenwich, CT United States ·(NYSE: WRB)
Company Description
Phone: 203-629-3000
Fax: 203-629-3073
Rankings
- #490 in FORTUNE 500
- S&P 400
View W. R. Berkley Corporation Locations On A US Map
This link will open in a new window
This link will open in a new window W. R. Berkley is a holding company with a full basket. The company offers an assortment of commercial property/casualty insurance across five segments. Its specialty insurance segment underwrites complex third-party liability risks, especially excess and surplus lines, professional liability, and commercial transportation insurance. Its regional segment offers commercial insurance focused on small to midsized business customers and state and local governments through regional subsidiaries. The alternative markets segment develops self-insuring programs aimed at employers and employer groups. The company also does a bit of reinsurance and a smidgen of international property/casualty underwriting. To read the full description, subscribe now.
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!
Key W. R. Berkley Corporation Financials
| Company Type | Public - NYSE: WRB Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $4,708.8 |
| 2008 Employees | 5,768 |
W. R. Berkley Corporation Executives
136 executives listed for W. R. Berkley Corporation's Greenwich, CT location.
| Title | Name & Bio | Contact |
| Chairman, President, CEO, and COO; Chairman and President, Berkley Insurance; President and CEO, Gemini Insurance; Chairman and CEO, Berkley International | William Berkley | Network |
| SVP, CFO, and Treasurer; W. R. Berkley and Berkley International | Eugene Ballard | Network |
| SVP Information Technology | Kevin Ebers | Network |
Competition
Competitive Landscape for W. R. Berkley Corporation
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top W. R. Berkley Corporation Competitors
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!