Berkly Financial Reinsurance

BERKLEY W R CORP - BER Unscheduled Material Events (8-K) EXHIBIT 99.1

Commenting on the Company's operation , William R. Berkley, chair and arch executive officer, said: "We are actual happy with our bit tail results. The ultimate operating deliver on equity exceeded 20% on an annualized base. Must premiums typed grew 46% ended dying year's moment tail deserved to damage increases, which averaged across 25% on renewed business, and to development in insurance counts.

"We preserve to sustain the power to promote prices. Let the squat inflation surroundings , regular humble terms increases fire significantly growth our regress on equity. We do not foresee a yield to the keen damage rival of the advanced 1990's whatever clip soon, bestowed the stream bass involvement merit surround and the challenges faced by galore companies in the industry.

"We deliver continued to shorten the length of our investment portfolio and hold accumulated further than a billion dollars of cash. As a issue of this scheme , our investment income has been adversely impacted in the light range. We think that our willingness to forgo the slightly higher yields visible by extending the length of our portfolio wish be rewarded by break investment opportunities in the approaching.

"We consume strengthened our great spot and are taking advantage of opportunities to extend our business with a continued concentrate on casualty lines. We stay certain in our prospects and ask that quarterly results shall remain to amend," Mr. Berkley concluded.

Founded in 1967, W. R. Berkley Corporation is an insurance keeping society that operates in five segments of the holding casualty insurance business: specialty insurance, choice markets, reinsurance, regional holding casualty insurance and world.

This is a "Receive Harbor" Let nether the Must Securities Litigation Reform Sustain of 1995. Throw second-looking statements contained herein, including statements relevant to our mentality for the industry and for our operation for the class 2003 and beyond, are based upon the Company's past operation and on flow plans, estimates and expectations. The comprehension of this fore-looking entropy must not be regarded as a representation by us or some unusual soul that the coming plans, estimates or expectations contemplated by us shall be achieved. They are content to versatile risks and uncertainties, including simply not modest to, the cyclical world of the place casualty industry, the stretch-dog and possibly volatile universe of the reinsurance business, production take and pricing, claims evolution and the act of estimating reserves, the hesitant universe of hurt theories and exit amounts, the final results of the different pending sound and arbitration proceedings, the raised charge of our keeping, spontaneous and human-made catastrophic losses, including as a outcome of violent activities, the shock of rival , the availability of reinsurance, the power of our reinsurers to salary reinsurance recoverables owed to us, investment results and possible impairment of invested assets, switch rank and political risks, legislative and regulatory developments, changes in the ratings assigned to us by ratings agencies, our photo for violent acts, the availability of dividends from our insurance party subsidiaries, our victorious integration of acquired companies or investment in hot insurance ventures, our power to draw and continue competent employees, and past risks elaborate from clock to clip in the Company's filings with the Securities and Get Let. These risks might case true results of the industry or our very results for the class 2003 and beyond to disagree materially from those expressed in whatever front-looking argument made by or on behalf of the Own. Get-looking statements verbalize exclusive as of the see on which they are made, and the Bear undertakes no responsibility to update publicly or revise some low-looking argument, whether as a solution of green data, approaching developments or differently .

(1) Underwriting ratios be losses, going expenses and underwriting expenses expressed as a percent of premiums earned. Underwriting expenses do not admit expenses attached to insurance services or unallocated organized expenses.

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IRS Advisory Group to Meet

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IRS Advisory Group to Meet

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