W. R. Berkley Corporation

berkley.com

What Do They Do?

Underwrites commercial and specialty personal insurance for businesses and individuals, including coverage for specialized industries and regional markets. Also provides reinsurance to ceding companies.

How Do They Make Money?

Customers pay premiums for insurance policies, which the company earns across the policy term; it earns service fees during the period it provides claims, administration and other services.

revenue

Segment	Share	Revenue	How money arrives
Insurance Recurring	82% FY2022: 78%		Recurring
Reinsurance & Monoline Excess Recurring	12% FY2022: 14%		Recurring

Who Are Their Customers?

Businesses range from small and midsized firms to large employers and specialized industries, while individuals buy specialty personal coverage. Sales run through independent retail and wholesale agents, brokers and managing general agents.

Do Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2025.

Net income, FY2025

12% of revenue

▲ +1% vs FY2024 ($1.8B, 13%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +1%; vs $3.7B in Q2 FY2025
Net income: ▲ +13%; vs $401.3M in Q2 FY2025

Jun 10, 2026 Founder and executive chairman dies; chief executive appointed chairman William R. Berkley died; W. Robert Berkley, Jr. was appointed chairman.

Growing. Revenue grew 56% in 4 years, from $9.5B in FY2021 to $14.7B in FY2025, about 12% a year.

Revenue over time

Insurance Reinsurance & Monoline Excess

$20B$10B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Swiss Re, Munich Re, Berkshire Hathaway, and Hannover Re

Comments