Strategy for Growth: Focus and Expertise
In their September 2016 cover story “Growth Strategy“, Best’s Review highlighted the growth of W. R. Berkley Corporation, parent company of Berkley Crime, and the leadership transition that has been years in the making.
As the reins of the company are handed over to Rob Berkley by his father, William R. Berkley, W. R. Berkley Corporation will continue to build on its successful strategy of delivering expertise to its customers. Rob Berkley, quoted in the article, stated, “We are great believers in the idea that the intellectual capital and expertise our people have are the great differentiators, especially in the parts of the market we choose to focus on.”
Growth From Delivering Expertise
Dramatic growth has been a direct result of delivering expertise in the market place. As the author, Kate Smith, noted in the article, “Since father and son teamed up 18 years ago, W. R. Berkley has tripled its market share in the commercial property and casualty space, becoming the 12th largest writer in the U.S. In 2015, the company claimed 1.84% of the market, up from 1.6% a decade ago and 0 .57% two decades ago, according to A.M. Best data.”
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Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: http://wrbc.info/Licensing/License.htm