Early Life
William Robert Berkley was born in 1946 in North Jersey. At age 11, Berkley's father died in an airplane crash. He showed an entrepreneurial spirit from a young age, investing in the stock market at 12 with money earned from lawn mowing. Berkley graduated from New York University Stern School of Business in 1966 and received an MBA from Harvard Business School in 1968.
Rise to Success
Berkley founded W. R. Berkley Corporation in 1967. In November 1973, the company went public, with Berkley owning 23.8% of the shares. He transitioned from CEO to Executive Chairman in 2015, with his son, Rob Berkley Jr., taking over as CEO.
Key Business Strategies
W. R. Berkley Corporation operates through various insurance subsidiaries, providing commercial lines insurance products and services. The company operates in two segments: Insurance and Reinsurance & Monoline Excess. It has prioritized sustainable growth, aiming to deliver long-term value to stakeholders. Berkley is known for a disciplined underwriting approach, carefully selecting risks that align with strategic objectives.
Philanthropy
Berkley is actively involved in supporting educational institutions and charitable organizations. He and his wife, Marjorie, have donated over $50 million to the Leonard N. Stern School of Business at NYU. He has also established the Berkley Center for Religion, Peace, and World Affairs at Georgetown University. The Berkley Family Foundation administers his charitable giving. Recently, the Berkley family committed $25 million to rename Georgetown University's nursing school the Georgetown University Berkley School of Nursing.