Exhibit 99.1

W. R. Berkley Corporation		NEWS RELEASE
475 Steamboat Road
Greenwich, Connecticut 06830
(203) 629-3000

FOR IMMEDIATE RELEASE		CONTACT:		Karen A. Horvath
				Vice President - External
				Financial Communications
				(203) 629-3000

W. R. BERKLEY CORPORATION REPORTS SECOND QUARTER RESULTS
Book Value per Share up 4%

     Greenwich, CT, July 25, 2011 — W. R. Berkley Corporation (NYSE: WRB) today reported net income for the second quarter of 2011 of $83 million, or 56 cents per share, compared with $110 million, or 70 cents per share, for the second quarter of 2010.

Summary Financial Data
(Amounts in thousands, except per share data)

		Second Quarter								Six Months
		2011				2010				2011				2010
Gross premiums written		$	1,245,276			$	1,113,469			$	2,515,134			$	2,239,589
Net premiums written			1,057,415				961,354				2,140,718				1,945,304
Net income			83,082				110,207				199,569				228,817
Net income per diluted share			0.56				0.70				1.35				1.44
Operating income (1)			68,746				102,758				166,443				217,525
Operating income per diluted share			0.46				0.65				1.13				1.37

W. R. Berkley Corporation		Page 2

Second quarter highlights included:

	•		Book value per share increased 4% to $27.77.
	•		Average premium rate increases approached 2%.
	•		Net premiums written increased 10%.
	•		GAAP combined ratio was 101.1% including catastrophe losses and 94.9% excluding catastrophe losses.
	•		The Company repurchased 1.1 million shares of common stock at an average cost of $31.80 per share and an aggregate cost of $36 million.

     Commenting on the Company’s performance, William R. Berkley, chairman and chief executive officer, said: “We were pleased with our results for the quarter in spite of the level of catastrophic activity. With both rising prices and increased volume, we maintain our positive view for improving rates in the commercial insurance market. Our newer ventures continue to be the significant driver of our growth. Our balance sheet reflects a cautious outlook as to inflation and general industry claim trends.

     “Today, as in the past, cyclical change in the insurance industry begins gradually. Price increases vary by line and geographic territory. At the moment, while rate increases are definitively positive, loss costs are also increasing. We anticipate accelerating rate increases as the year progresses.

     “Investment returns have held up well, given the current interest rate environment. We are able to forego immediate liquidity in our portfolio due to the nature of our liabilities. This allows us to purchase high quality securities with better than market yields. Our investments in partnerships and private investments have contributed to our improving returns.

     “Our book value increased by four percent in the quarter. We continue to be optimistic about our results for the foreseeable future,” Mr. Berkley concluded.

W. R. Berkley Corporation		Page 3

Webcast Conference Call

     The Company will hold its quarterly conference call with analysts and investors to discuss its earnings and other information on Tuesday, July 26, 2011 at 9:00 a.m. eastern time. The conference call will be webcast live on the Company’s website at www.wrberkley.com. A recording of the call will be available on the Company’s website approximately two hours after the end of the conference call.

About W. R. Berkley Corporation

     Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance and international.

Forward Looking Information

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 2011 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: the cyclical nature of the property casualty industry; the long-tail and potentially volatile nature of the insurance and reinsurance business; product demand and pricing; claims development and the process of estimating reserves; investment risks, including those of our portfolio of fixed maturity securities and investments in equity securities, including investments in financial institutions, municipal bonds, mortgage-backed securities, loans receivable, investment funds, real estate, merger arbitrage and private equity investments; the impact of significant competition; the potential impact of the economic downturn, and any legislative, regulatory, accounting or other initiatives taken in response to it, on our results and financial condition; the uncertain nature of damage theories and loss amounts; natural and man-made catastrophic losses, including as a result of terrorist activities; the success of our new ventures or acquisitions and the availability of other opportunities; the availability of reinsurance; our retention under the Terrorism Risk Insurance Programs Reauthorization Act of 2007; the ability of our reinsurers to pay reinsurance recoverables owed to us; foreign currency and political risks relating to our international operations; other legislative and regulatory developments, including those related to business practices in the insurance industry; changes in the ratings assigned to us or our insurance company subsidiaries by rating agencies; the availability of dividends from our insurance company subsidiaries; our ability to attract and retain qualified employees; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties could cause our actual results for the year 2011 and beyond to differ materially from those expressed in any forward-looking statement we make. Any projections of growth in our net premiums written and management fees would not necessarily result in commensurate levels of underwriting and operating profits. 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		Page 4

Consolidated Financial Summary
(Amounts in thousands, except per share data)

		Second Quarter								Six Months
		2011				2010				2011				2010
Revenues:
Net premiums written		$	1,057,415			$	961,354			$	2,140,718			$	1,945,304
Change in unearned premiums			(40,171	)			(13,226	)			(140,977	)			(66,615	)
Net premiums earned			1,017,244				948,128				1,999,741				1,878,689
Net investment income			149,072				129,731				295,198				273,292
Insurance service fees			25,035				20,390				47,208				41,875
Net investment gains:
Net realized gains on investment sales			23,290				11,534				52,574				20,028
Other-than-temporary impairments			(400	)			—				(400	)			(2,582	)
Net investment gains			22,890				11,534				52,174				17,446
Revenues from wholly-owned investees			56,134				52,929				110,021				104,505
Other income			574				356				958				808
Total revenues			1,270,949				1,163,068				2,505,300				2,316,615
Expenses:
Losses and loss expenses			674,276				570,475				1,281,371				1,120,448
Other operating costs and expenses			402,359				370,823				787,190				738,790
Expenses from wholly-owned investees			55,855				49,934				109,671				98,908
Interest expense			28,132				26,014				56,249				52,055
Total expenses			1,160,622				1,017,246				2,234,481				2,010,201
Income before income taxes			110,327				145,822				270,819				306,414
Income tax expense			(27,309	)			(35,598	)			(71,309	)			(77,409	)
Net income before noncontrolling interests			83,018				110,224				199,510				229,005
Noncontrolling interests			64				(17	)			59				(188	)
Net income to common stockholders		$	83,082			$	110,207			$	199,569			$	228,817
Net income per share:
Basic		$	0.59			$	0.73			$	1.41			$	1.50
Diluted		$	0.56			$	0.70			$	1.35			$	1.44
Average shares outstanding:
Basic			141,637				151,215				141,408				152,324
Diluted			147,677				157,461				147,614				158,539

W. R. Berkley Corporation		Page 5

Operating Results by Segment
(Amounts in thousands, except ratios (1)(2))

		Second Quarter								Six Months
		2011				2010				2011				2010
Specialty:
Gross premiums written		$	473,849			$	404,407			$	889,579			$	747,339
Net premiums written			405,433				342,275				763,550				644,203
Premiums earned			349,943				316,513				680,150				629,466
Pre-tax income			77,564				75,177				167,933				150,847
Loss ratio			60.6	%			57.2	%			57.5	%			57.6	%
Expense ratio			31.9	%			32.7	%			32.8	%			33.2	%
GAAP combined ratio			92.5	%			89.9	%			90.3	%			90.8	%
Regional:
Gross premiums written		$	280,841			$	286,711			$	579,682			$	589,352
Net premiums written			260,579				258,543				540,203				530,575
Premiums earned			266,764				266,629				528,281				530,298
Pre-tax income (loss)			(15,579	)			25,505				9,319				67,469
Loss ratio			77.6	%			62.2	%			70.1	%			59.7	%
Expense ratio			36.3	%			35.5	%			36.2	%			35.5	%
GAAP combined ratio			113.9	%			97.7	%			106.3	%			95.2	%
Alternative Markets:
Gross premiums written		$	178,792			$	146,599			$	433,639			$	387,950
Net premiums written			121,819				117,092				322,373				327,497
Premiums earned			148,999				155,227				297,336				310,012
Pre-tax income			41,579				45,571				83,209				96,556
Loss ratio			72.2	%			65.2	%			72.4	%			64.9	%
Expense ratio			27.4	%			26.0	%			26.7	%			25.8	%
GAAP combined ratio			99.6	%			91.2	%			99.1	%			90.7	%
Reinsurance:
Gross premiums written		$	106,866			$	114,646			$	219,430			$	221,015
Net premiums written			99,550				107,633				205,904				206,404
Premiums earned			105,836				105,632				211,314				205,190
Pre-tax income			25,361				30,157				50,723				64,577
Loss ratio			58.8	%			55.7	%			60.7	%			53.1	%
Expense ratio			42.0	%			41.0	%			40.6	%			42.4	%
GAAP combined ratio			100.8	%			96.7	%			101.3	%			95.5	%
International:
Gross premiums written		$	204,928			$	161,106			$	392,804			$	293,933
Net premiums written			170,034				135,811				308,688				236,625
Premiums earned			145,702				104,127				282,660				203,723
Pre-tax income			11,511				6,586				14,026				6,959
Loss ratio			58.7	%			61.1	%			62.5	%			64.4	%
Expense ratio			41.1	%			41.2	%			40.1	%			42.4	%
GAAP combined ratio			99.8	%			102.3	%			102.6	%			106.8	%

W. R. Berkley Corporation		Page 6

Operating Results by Segment (Continued)
(Amounts in thousands, except ratios (1)(2))

		Second Quarter								Six Months
		2011				2010				2011				2010
Corporate and Eliminations:
Net investment gains		$	22,890			$	11,534			$	52,174			$	17,446
Interest expense			(28,132	)			(26,014	)			(56,249	)			(52,055	)
Other revenues and expenses (3)			(24,867	)			(22,694	)			(50,316	)			(45,385	)
Pre-tax loss			(30,109	)			(37,174	)			(54,391	)			(79,994	)
Consolidated:
Gross premiums written		$	1,245,276			$	1,113,469			$	2,515,134			$	2,239,589
Net premiums written			1,057,415				961,354				2,140,718				1,945,304
Premiums earned			1,017,244				948,128				1,999,741				1,878,689
Pre-tax income			110,327				145,822				270,819				306,414
Loss ratio			66.3	%			60.2	%			64.1	%			59.6	%
Expense ratio			34.8	%			34.2	%			34.7	%			34.6	%
GAAP combined ratio			101.1	%			94.4	%			98.8	%			94.2	%

W. R. Berkley Corporation		Page 7

Selected Balance Sheet Information
(Amounts in thousands, except per share data)

		June 30, 2011				December 31, 2010
Net invested assets (1)		$	14,251,620			$	13,918,768
Total assets			18,195,124				17,528,547
Reserves for losses and loss expenses			9,195,675				9,016,549
Senior notes and other debt			1,501,739				1,500,419
Junior subordinated debentures			242,893				242,784
Common stockholders’ equity (2)(3)			3,912,807				3,702,876
Common stock outstanding (3)			140,911				141,010
Common stockholders’ equity per share (3)			27.77				26.26

W. R. Berkley Corporation		Page 8

Supplemental Information
(Amounts in thousands)

		Second Quarter								Six Months
		2011				2010				2011				2010
Reconciliation of operating income to net income:
Operating income (1)		$	68,746			$	102,758			$	166,443			$	217,525
Investment gains, net of tax			14,336				7,449				33,126				11,292
Net income		$	83,082			$	110,207			$	199,569			$	228,817
Return on equity (2)			9.0	%			12.3	%			10.8	%			12.7	%
Cash flow from operations		$	160,949			$	129,511			$	216,392			$	186,670
Other operating costs and expenses:
Underwriting expenses		$	353,814			$	324,599			$	692,999			$	650,202
Service expenses			19,562				18,411				36,891				36,955
Net foreign currency (gains) losses			9				1,316				529				(3,711	)
Other costs and expenses			28,974				26,497				56,771				55,344
Total		$	402,359			$	370,823			$	787,190			$	738,790

W. R. Berkley Corporation		Page 9

Investment Portfolio
June 30, 2011
(Amounts in thousands)

		Carrying				Percent
		Value				of Total
Fixed maturity securities:
United States government and government agencies		$	1,177,289				8.3	%
State and municipal:
Special revenue			2,129,715				14.9	%
Pre-refunded			1,419,472				10.0	%
State general obligation			996,628				7.0	%
Local general obligation			415,706				2.9	%
Corporate backed			499,179				3.5	%
Total state and municipal (1)			5,460,700				38.3	%
Mortgage-backed securities:
Agency			1,104,024				7.7	%
Residential — Prime			266,080				1.9	%
Residential — Alt A			50,536				0.4	%
Commercial			56,098				0.4	%
Total mortgage-backed securities			1,476,738				10.4	%
Corporate:
Industrial			1,211,591				8.5	%
Financial			775,776				5.4	%
Utilities			205,924				1.4	%
Asset-backed			308,666				2.2	%
Other			112,323				0.8	%
Total corporate			2,614,280				18.3	%
Foreign government and foreign government agencies			550,502				3.8	%
Total fixed maturity securities (1)			11,279,509				79.1	%
Equity securities available for sale:
Common stocks			348,259				2.5	%
Preferred stocks
Financial			92,582				0.7	%
Real estate			26,199				0.2	%
Utilities			44,012				0.3	%
Total equity securities available for sale			511,052				3.7	%
Cash and cash equivalents (2)			951,214				6.7	%
Arbitrage trading account			474,787				3.3	%
Investment in arbitrage funds			59,728				0.4	%
Investment funds			545,794				3.8	%
Loans receivable			311,663				2.2	%
Real estate			117,873				0.8	%
Net invested assets		$	14,251,620				100.0	%