Established in 1975, the company has grown to operate five distinct businesses globally, including Berkley Re America, Berkley Re UK, Berkley Re Australia, Berkley Re Asia, and Berkley Re Solutions.
The reinsurance provider offers a range of property and casualty reinsurance products and services to clients across North America, Latin America and the Caribbean, Europe, the Middle East, Africa, Asia, and the Australia/New Zealand region.
Berkley Re attributes its long-term presence in the market to its underwriting capabilities, industry knowledge, and sustained client relationships.
Earlier this year, Berkley Re introduced a new division, Berkley Re Turnkey Solutions, aimed at providing reinsured, white-labeled offerings to carriers, managing general agents (MGAs), program administrators (PAs), and insurtech companies.
“Berkley Re has been built on the foundation of Berkley’s five core principles: risk-adjusted returns, people-oriented strategy, responsible financial practices, accountability, and transparency," said Dan Westcott, president of Berkley Re America. "These principles have guided our business through decades of change and growth, and they continue to drive our success today."
Financially, W. R. Berkley Corporation reported a strong performance for the full year 2024, with net income reaching US$1.8 billion, up from US$1.38 billion in the previous year. The company's return on equity stood at 23.6%, and it achieved a record annual pre-tax underwriting income of US$1.1 billion. Gross premiums written increased by 9.6% to US$14.2 billion.
However, in the first quarter of 2025, the company experienced a 5.6% decline in profit, totaling US$417.6 million, primarily due to increased catastrophe-related losses amounting to US$111.1 million, compared to US$30.5 million in the same period the previous year. Despite this, net written premiums rose by 9.9% to US$3.13 billion, and net investment income grew by 12.6% to US$360.3 million.
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