Commercial insurer W.R. Berkley announced the death of its founder and executive chairman, William R. Berkley, at the age of 80 on June 9.
Berkley founded the company in 1967, and its tribute to the leader noted that over six decades, he built it into a Fortune 500 company and one of the world's leading commercial insurance organizations.
"My father was more than an extraordinary 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," Berkley's son and W.R. Berkley President and CEO W. Robert Berkley, Jr. said in the company's release.
"Beyond his business achievements, my father was deeply devoted to giving back to improve the lives of others," Berkley, Jr. continued. "He particularly focused on education and healthcare. He generously supported educational institutions at all levels, reflecting his belief in expanding opportunity and fostering intellectual curiosity, and his conviction that opportunity and knowledge are fundamental to individual growth and societal progress."
Berkley also served as chairman emeritus of the NYU Board of Trustees, and the university released a statement following his passing, recognizing his contributions. Berkley was a member of the 1966 class of the NYU Stern School of Business, and went on to also serve as chairman of the NYU Stern School of Business Executive Board and member of the Board of Trustees of NYU Langone Health, as well as NYU's President's Global Council.
He was also the recipient of the Albert Gallatin Medal, one of NYU's highest honors, in 2024, and was inducted into the Horatio Alger Association of Distinguished Americans, in addition to other recognitions.
In its statement, NYU also recognized Berkley's financial contributions to the university: "Mr. Berkley's influence lives everywhere across the University. In 2021, a generous philanthropic gift from the Berkley Family Foundation established the Berkley Achievement Scholarships, which have enabled talented students from across the country to attend NYU Stern tuition-free. At the time it was made, this was the single largest undergraduate scholarship gift in the history of NYU Stern and NYU. In 2023, another major gift from the Foundation launched the NYU Promise, which eliminated tuition for students whose families earn less than $100,000 and provided yearly aid increases for all students to keep up with tuition, year after year. It's through the Berkley Family Foundation's generosity that NYU recently established the Berkley Institute for Civil Discourse and Civic Solutions, engaging students, scholars, and leaders with different perspectives to bridge the divisions tearing at our society—an endeavor closest to Mr. Berkley's heart."
Outside of his work with W.R. Berkley Corporation and NYU, Berkley also served as vice chairman of the Board of Directors of Georgetown University, where he helped create the Berkley Center for Religion, Peace and World Affairs, which NYU's release explains is devoted to "fostering inter-religious dialogue with a goal of improving global cultural understanding."
W.R. Berkley's Board of Directors has appointed W. Robert Berkley, Jr., as its new chairman, effective immediately.
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