W. R. Berkley Corporation Announces Sale of Real Estate Investment
Estimates Third Quarter Gain of Approximately $120 Million
W. R. Berkley Corporation (NYSE:WRB) today announced the sale of its real estate investment at 1101 New York Avenue NW in
Washington, D.C. The Company expects to report a realized pre-tax gain of approximately $120 million on the sale in the third
quarter of 2017, which is in addition to approximately $22 million in pre-tax earnings related to the property in prior years. The
sale is in keeping with the Company’s long-term strategy of investing for total return in order to continue delivering superior
long-term value creation to shareholders despite a low interest rate environment.
Celebrating 50 years, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines
writers in the United States and operates worldwide in two segments of the property casualty business: Insurance and
Reinsurance.
This is a "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements
contained herein, including statements related to our outlook for the industry and for our performance for the year 2017 and
beyond, are based upon the Company's historical performance and on current plans, estimates and expectations. The inclusion of this
forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates
or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited
to, risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could
cause actual results of the industry or our actual results for the year 2017 and beyond to differ materially from those expressed
in any forward-looking statement made by or on behalf of the Company. Any projections of growth in the Company's revenues would not
necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made,
and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new
information, future developments or otherwise.
W. R. Berkley Corporation
Karen A. Horvath, 203-629-3000
Vice President - External
Financial Communications
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