WRBerkley.com an insurance holding company

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W.R. Berkley Corporation

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W.R. Berkley Corporation was founded during the year 1967. It is considered as among the country’s top insurance providers for casualty on commercial lines properties. This corporation has groups which have individual operating units. These units are required a specialized training and knowledge over a product or territory, in order for them to participate well in the niche market. It has always been considered as competitive since it possesses an edge compared to other corporations. It follows a long termed strategy regarding decentralized businesses. Since the customers and the market have constantly changing needs and conditions, the strategy of W.R. Berkley allows its individual units to recognize and answer immediately and efficiently. On the other hand, the decentralized structure also offers incentives and monetary accountability to the local management. Because of these, the corporation has been able to appeal and maintain high quality professionals. Furthermore, it possesses great experience and resources which are used to deal with the current demands of the environment. It is also endowed with the flexibility to expect, create, and answer to all kinds of challenges and potentialities that may come in the future.

The Difference of W.R. Berkley from Other Corporations

When you carefully analyze W.R. Berkley, you should look upon its numbers. You will be able to see that it has a balance sheet, which is of high quality. Because of this, it has been able to lead the competition within the market. Furthermore, it has also been able to come up with top results with its operations.

W.R. Berkley has always been perceived as an outstanding corporation because of its difference from other companies and corporations. The following characteristics make it unique from its competitors:

A strategy which is people-oriented – When opportunities are recognized, new investments is started right away. When a qualified individual is seen as an asset to the business, then he is expected to lead the operations. Out of the 31 units of the corporation, 25 of these have been internally developed. On the other hand, the other 6 units have been acquired.

Accountability – The operation of the business is geared towards the perspective of ownership. There is also an apparent sense of responsibility towards the shareholders.

Returns which are adjusted for possible risks – The management of the whole company concentrates on getting the highest possible return. At the same time, there is an assumption of potential risks which are also being comprehended in order to avoid these. Through out the cycle of the insurance, there is a generation of high quality risk-adjusted returns.

Responsible and reliable financial practices – The exposures from risks are being handled actively. The strong balance sheet of the corporation, with the inclusion of a top quality business portfolio, makes sure that there are adequate resources. These resources are used to make the business increase profitably, whenever possibilities arise.

Transparency – In order for the corporation to measure the extent of its performance, it utilizes standards which are objective and consistent. At the same time, these standards are also utilized regardless the conditions of the environment.

The Subsidiaries of W.R. Berkley

The corporation of W.R. Berkley is a type of holding company. Through its subsidiaries, it conducts its business with all the insurance business segments on property casualties. The exclusive structure of the corporation enables its units to cater to the market segment through an autonomous method. Its subsidiary companies define the market through the following categories: products, risk classes, geographic territory, or customers. On the other hand, the grouping of the companies is done for the purpose of proper management. There are 5 segments which are grouped based on the market it is serving: Alternative Markets; International; Insurance on Regional Property Casualty; Specialty Insurance; and Reinsurance.

The strategy of W.R. Berkley is founded on the conviction that its specialized knowledge over territory, products, or customers is an advantage against its competitors. This is possible when it the knowledge is applied for the benefit of the customer. Through this conviction, the corporation is provided with strength to face the competition. It also enables W.R. Berkley to give outstanding long lasting returns to its shareholders.

Responding To the Aid of the Hurricane Katrina Victims

When hurricane Katrina hit Louisiana, W.R. Berkley joins ILABA and InsurBanc developed a specialized loan program for the victims. This program provides special values for short termed loans, which are used to finance expenses that are associated with the damage of the hurricane.