W R Berkley SWOT and PESTLE Analysis

ID : 52800453| Apr 2023| 19 pages

COMPANY PROFILE -W R Berkley

Business Sector :Insurance

Operating Geography :United States, North America,Global

About W R Berkley :

W R Berkley is an insurance holding company that is among one of the nation’s premier commercial lines property casualty insurance providers in the United States. It was founded in 1967 by William R. Berkley, who currently serves as Executive Chairman. WR Berkley operates in two segments of the property casualty insurance business: Insurance and Reinsurance and headquartered in Greenwich, Connecticut, United States.
The insurance business units underwrite predominantly commercial insurance business, including excess and surplus lines and admitted lines, and specialty personal lines, throughout the United States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Scandinavia, Australia, Asia and Mexico. The revenue share of insurance unit was $6.4B or 88.7% of total revenue (Pre-tax income: $815M) in FY 2019. The Reinsurance & Monoline Excess units write reinsurance business on a facultative and treaty basis, primarily in the United States, United Kingdom, Continental Europe, Australia, the Asia-Pacific Region and South Africa. Corresponding revenue was accounted to be $879M or 11.3% of total revenue (Pre-tax income: $189M) in FY 2019. As of January 31, 2020, WRB employed 7,493 individuals. Of this number, subsidiaries employed 7,356 persons and the remaining persons were employed at the parent company.
The competitive advantage for WR Berkley lies in the long-term people-oriented strategy of decentralized operations. This has allowed WRB to identify and respond quickly and effectively to changing market conditions and local customer needs. This decentralized structure has also resulted in attracting and retaining the highest caliber professionals as well as incentivizing local managers for their excellent performance. The company puts strong emphasize on Accountability, Responsible financial practices, Transparency. All the subsidiaries of WR Berkley hold the A+ rating according to S&P rating and A.M.Best Rating. Meeting the needs of customers, maintaining a high-quality balance sheet, and allocating capital to the best opportunities, these three have been growth vehicles for WR Berkley.

W R Berkley Revenue :

$ 7.9 Billion - FY ending 2019 (YoY growth of 11%)
$ 7.7 Billion - FY ending 2018

Competitive Analysis of W R Berkley

SWOT

PESTLE

The SWOT analysis for W R Berkley is presented below in a table followed by the detailed analysis report.

Strengths	Weaknesses
1. Responsible financial practices 2. Strong product portfolio offering insurance to major sectors 3. Focus on risk adjusted returns instead of nominal returns 4. Implementation of People-oriented strategies across all business units 5. Strong reserves built-up for both the segments. 6. High quality investment portfolio	1. Declining revenue from Reinsurance & Monoline Excess segment 2. Sales growth rate is very low as compared to the industry and sector growth rate 3. Liquidity and Solvency ratios are not at par with the sector
Opportunities	Threats
1. Insurance penetration has been low for the geographies in which WRB operates 2. Boosting yet Volatile economies demand insurance for efficient risk mitigation 3. Targeting reinsurance growth in firming markets	1. Globally hit Covid-19 pandemic has negatively affected the business activities. 2. Insurance holding is highly competitive industry

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Detailed SWOT Analysis of W R Berkley

Strength

1. Responsible financial practices: Risks and corresponding mitigation plans are inevitable parts of any institution. Proactive way of risk mitigation is always sought after more than the reactive way. This helps in minimizing the potential loss. At WRB, risks are identified and dealt with proactively. It has been able to maintain a strong balance sheet for past years which include superior quality investment portfolio with minimum possible risk. At the same time, WRB is equipped with ample number of resources to take the benefit of any emerging opportunity. The decentralized structure of the firm improves the financial accountability.

2. Strong product portfolio offering insurance to major sectors: A wide variety of risks are associated within the business ambit in which Berkley functions. Especially in the Property and Casualty, risk can have multiple aspects specific to the business activities and geographies in which it operates. Hence for an insurance company, it opens wide opportunity for product proliferation which also increases the volume sales and hence the top line of the company. Tailor made product offerings also helps a company in establishing a strong customer relationship. WRB has presence in all major sectors including Healthcare, Fire& Marine, Human Services, Oil and Gas, Cyber Security etc., identifying the needs of the customers and servicing them accordingly. WRB also has region specific insurance products such as Berkley Canada, Berkley North Pacific, Berkley Southeast, WRB Europe etc.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

The PESTLE / PESTEL analysis for W R Berkley is presented below in a table followed by the detailed analysis report.

Political	Economical
1. United Kingdom leaving EU has severe effects. 2. Impact of implementation of global insurance capital standard by IAIS	1. Economic risks, including foreign currency and credit risk 2. Reinsurance business is associated with the highest credit risk
Social	Technological
1. Social inflation catalysing claim costs to shoot in unanticipated ways	1. Investing in insurance technology platform “ecosystem” with insurance technology on the rise 2. Developing innovative transportation insurance products employing technology and analytics
Legal	Environmental
1. GDPR rules affecting the efficiency of insurance firms 2. Compliance with cyber security regulations and CCPA may lead to increased costs 3. Extensive government regulation. 4. Adversely affected by U.S. Federal income tax laws.	1. Climate conditions may increase the frequency and severity of catastrop

Sample Complete Report

This is the sample complete report which will give you a glimpse of what your complete report will cover after purchase.

Free Summary Report

This report contains the table contents only. In case you need the complete report please purchase using the buy options displayed.

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SWOT & PESTLE (combined)
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Detailed Pestle Analysis of W R Berkley

Political

This section is available only in the 'Complete Report' on purchase.

Economic

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Social

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Technological

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Legal

1. GDPR rules affecting the efficiency of insurance firms: Many states and foreign countries have detailed laws and regulations addressing privacy and the protection of personal data. The data protection rules of the European Union, in particular the “GDPR”, have requirements for collecting and working with data from EU citizens. In some cases, GDPR restricts the types of information that can be collected. In other cases, it mandates the procurement of an individual’s consent for the specific ways the data will be used. In New York State, WBR is in the midst of a multi-year plan to thoroughly comply with NYCRR 500, the regulation that addresses the handling of personal data. Among other steps, the insurance czar has hired a head of third-party risk management to identify third parties, validate them, conduct criticality assessments and perform due diligence processes.

2. Compliance with cyber security regulations and CCPA may lead to increased costs: With increasing dependency on the internet to ease out work, people are disclosing information to the online systems/websites which was otherwise considered to be confidential. The immediate impact can be seen in rising cybersecurity threats. Cyber security threats involve stealing personal data of the user, selling that data to another party for monetary benefits, phishing, algorithm manipulation etc. New York’s cybersecurity regulation for financial services institutions that are authorized by the New York State Department of Financial Services has imposed rules to establish and maintain a cybersecurity program which are designed to protect customer’s private data and the confidentiality, integrity and availability of the licensee’s information systems. This puts additional cost burden on WRB. The similar effect is seen when some states are imposing additional regulations related to privacy and data security such as California enacted the California Consumer Privacy Act (CCPA).

The remaining section of “Legal” is available only in the 'Complete Report' on purchase.

Environmental

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

Northbridge Insurance
Ohio Casualty Group
Cincinatti Insurance Companies
Kemper Corporation
Fairfax Financial Holdings

Major Brands :

Berkley FinSecure
Berkley Fire & Marine
Berkley Healthcare
Berkley Global Product Recall Management
Berkley Cyber Risk Solutions
Berkley Custom Insurance

Sample Complete Report

This is the sample complete report which will give you a glimpse of what your complete report will cover after purchase.

Free Summary Report

This report contains the table contents only. In case you need the complete report please purchase using the buy options displayed.

* By clicking on "Buy Now" you agree to accept our "Terms and Conditions."

SWOT & PESTLE (combined)
Complete Report
USD 12.53

Debit/Credit card
PayPal

Great quality, Affordable pricing.

Safe and secure payments

On purchase the W R Berkley SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 4 hours might be caused.

DELIVERY AND FORMAT

WHY CHOOSE US?

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W R Berkley Porter's Five Forces Analysis
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W R Berkley Covid-19 Impact Analysis
W R Berkley BCG Analysis
W R Berkley Segmentation, Targeting and Positioning (STP) Analysis
W R Berkley Ansoff Matrix Analysis

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W R Berkley

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W R Berkley SWOT and PESTLE Analysis

COMPANY PROFILE -W R Berkley

Business Sector :Insurance

Operating Geography :United States, North America,Global

About W R Berkley :

W R Berkley Revenue :

Competitive Analysis of W R Berkley

Detailed SWOT Analysis of W R Berkley

Strength

Weakness

Opportunity

Threats

Detailed Pestle Analysis of W R Berkley

Political

Economic

Social

Technological

Legal

Environmental

Major Competitors :

Major Brands :

TABLE OF CONTENTS

DELIVERY AND FORMAT

WHY CHOOSE US?

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