GREENWICH, Conn.--(BUSINESS WIRE)--W. R. Berkley Corporation (NYSE:WRB) today celebrates the 50th anniversary of its founding in 1967. The Company was started with an initial investment of $2,500 and a fundamental understanding that providing customers with a service based on specialized knowledge and expertise, combined with appropriate risk-taking, would deliver outstanding long-term value to shareholders. The Company has grown to a market capitalization of nearly $9 billion and has distributed $4.2 billion of cash to its shareholders. Today, W. R. Berkley Corporation is a leading property casualty commercial lines writer, operating worldwide with $7.7 billion in annual revenue, more than $23 billion in total assets and over $5 billion in stockholders’ equity. The Company will mark this anniversary with events at its various worldwide locations.
Commenting on the achievement, William R. Berkley, founder and executive chairman, said, “Starting in the investment management business and evolving into a global property casualty enterprise, W. R. Berkley Corporation has always focused on optimizing risk-adjusted return. We understand that companies will only excel with great people and a value proposition that meets the needs of their customers. We have had that vision for the last 50 years thanks to our people, and we will continue to maintain the same perspective in the future. Our success is a reflection of the collective efforts of our employees, agents, brokers, and the many people who have contributed their advice and capital to our enterprise. We want to thank all those who have joined us on this journey.”
Celebrating 50 years, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and Reinsurance. For more information, please visit www.wrberkley.com.