Berkley founded the Greenwich, Connecticut-based company in 1967 and led it for nearly six decades. Under his direction, it grew into a Fortune 500 organization and one of the country’s largest commercial lines writers.
His approach to building the business set it apart from many peers. Berkley favored a decentralized structure built around specialty niche markets. The company says that model continues to differentiate it and support underwriting discipline across changing market conditions.
The firm credited his focus on underwriting discipline and long-term results for much of its success. It said his entrepreneurial culture left a lasting mark on both the company and the wider insurance industry.
Berkley stepped down as chief executive officer in 2015 and moved into the executive chairman role. His son, W. Robert Berkley, Jr., succeeded him as CEO and has led the company since.
The long handover means the leadership transition following his death is unlikely to disrupt operations. The board has appointed W. Robert Berkley, Jr. as chairman, effective immediately. He continues as president and chief executive officer.
W. Robert Berkley, Jr. paid tribute to his father in a statement. He described him as a leader and entrepreneur whose vision and values shaped the company.
“He was a father, best friend, and mentor to me and numerous colleagues, and his influence on us, our company, and the broader industry and the countless lives he touched and enhanced is immeasurable,” he said.
He also pointed to his father’s philanthropy, which centered on education and healthcare. The elder Berkley supported educational institutions across all levels. He believed opportunity and knowledge underpin both individual growth and societal progress.
His healthcare giving extended to hospitals, research institutions, and community-based programs. The contributions supported improvements in patient care and medical research.
“While we are deeply saddened by his passing, we remain committed to carrying forward his values, culture, and long-term perspective,” the younger Berkley said. “His philanthropic contributions will endure for generations through the many organizations and individuals he touched.”
