What Berkley Offshore does

Berkley Offshore is a specialty insurance underwriting company and a member of W. R. Berkley Corporation (NYSE: BER), writing business on behalf of Berkley Insurance Company, StarNet Insurance Company, and W. R. Berkley Europe AG — all rated A+ (Superior) by A.M. Best. It began operations on January 1, 2009 with an Energy Property book focused on upstream oil and gas exploration and production, then expanded in 2012 with a New York-based Marine Division (commercial hull and liability) and a London-based Liability Division (UK and international construction and energy liability). A Renewable Energy category extends the energy offering to wind and adjacent clean-energy risks, and a European platform — Berkley European Underwriters AS, established in Norway in 2019 — holds Norwegian FSA licensing for EEA-wide underwriting with a UK Branch authorized by the FCA.

The company's product portfolio is organized around three core divisions plus the renewable energy extension, all delivered exclusively through licensed insurance brokers and producers rather than direct channels. Underwriting and claims functions are co-located to ensure continuity, and senior staff hold leadership positions in industry bodies such as the American Institute of Marine Underwriters (AIMU). Operationally, Berkley Offshore runs lean specialist teams out of New York (757 Third Avenue, 10th Floor), London (Level 13, 52 Lime Street, EC3M 7AF), Houston (1800 Bering Drive, Suite 575), and Oslo (Rådhusgata 17), serving oil and gas exploration and production companies, marine operators, and construction/energy liability accounts across the US, UK, EEA, and worldwide.

Berkley Offshore earns revenue through insurance premiums written across its specialty lines under a quote-based, risk-assessed pricing model, with contracts structured as multi-year policies. It functions as a focused underwriting unit within W. R. Berkley Corporation's decentralized operating model, in which each Berkley company targets a niche requiring specialized industry, product, or territorial knowledge. The business benefits from the parent's A-rated paper, capital base, and global broker relationships, while retaining local underwriting autonomy to respond quickly to changing risk and market conditions in energy, marine, and liability.

Name

Berkley Offshore

Legal name

Berkley Offshore Underwriting Managers

Website

https://berkleyoffshore.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Berkley Offshore is a specialty insurance underwriting unit within W. R. Berkley Corporation that writes Energy Property, Marine, and Liability cover for oil and gas, marine, and construction/energy clients across the US, UK, EEA, and worldwide, distributed through licensed insurance brokers on A+ rated paper.

Ownership category

akta.pro rank

Product category

Specialty Insurance Underwriting

NAICS

Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)

akta.pro secondary industries

Energy & Power Specialty (Onshore/Offshore) (FSAJAGAI), Marine & Energy Reinsurance (FSAOABAK)

Keywords

• Offshore energy insurance
• Marine insurance
• Energy property insurance
• Liability insurance
• Specialty underwriting

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Premiums: Berkley Offshore generates revenue through insurance premiums across its specialty lines: Energy Property (upstream oil and gas exploration and production), Marine (commercial hull and liability), and Liability (UK and International construction and energy). Policies are underwritten on behalf of Berkley Insurance Company, StarNet Insurance Company, and W.R. Berkley Europe AG. Premiums are collected from commercial clients seeking coverage for their operations worldwide.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Berkley Offshore is a specialty insurance underwriting operation that provides Energy Property, Marine, and Liability insurance coverage for offshore and marine-related risks. Operating as part of W. R. Berkley Corporation, the company distributes coverage through licensed insurance brokers to energy, shipping, and offshore industry clients across the United States, United Kingdom, and Norway.

Product overview

Berkley Offshore is a specialty insurance underwriting company and member of W. R. Berkley Corporation, offering a portfolio of specialized insurance products through three core divisions: Energy Property, Marine, and Liability. The company operates offices in New York, London, and Houston, writing business through Berkley Insurance Company, StarNet Insurance Company, and W. R. Berkley Europe AG. Energy Property (launched January 1, 2009) specializes in upstream oil and gas exploration and production risks, covering offshore, onshore, construction, contractors, and wind operations globally. Marine (launched April 2012, based in New York) covers commercial hull and liability risks, with sub-products including Marine Liability (lobster boat, terminal operator's, charterer's, wharfinger's, stevedore's, ship repairer's liability, bumbershoot, marina operators, boat dealers), Marine Hull (hull & machinery, hull builder's risks, protection & indemnity, maritime employer's liability, war risks, lobster vessels, passenger vessels, research vessels), and Ocean Cargo. Liability (launched August 2012, based in London) covers UK and international construction and energy industries with Primary Casualty (employers liability, public/products liability) and Excess Casualty offerings. A Renewable Energy product category is also offered. The company also maintains a claims department integral to its service offering, emphasizing equity, efficiency and professionalism.

Differentiator

Problem solved

Functional benefit

Brands

• Energy Property: Specialty underwriter for exploration and production companies in the oil and gas industry, covering offshore and onshore risks, construction, and contractors.
• Marine
• Liability
• Berkley European Underwriters

Products and services

• Energy Property Insurance Property insurance coverage for offshore energy installations, including platforms, drilling rigs, and associated infrastructure, designed for operators and owners in the offshore oil and gas sector.
• Marine Insurance Marine hull and related marine coverage for vessels, cargo, and marine operations associated with offshore and shipping activities, offered to shipowners, operators, and marine contractors.
• Liability Insurance Liability coverage addressing offshore and marine liability exposures, including pollution liability, operator's extra expense, and related third-party liability risks, targeted at offshore energy and marine enterprises.

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• Berkley European Underwriters (BEU)coreStrategic or Co-development Partner · 1 January 2019Berkley European Underwriters established in Norway in 2019. Owned by W.R. Berkley European Holdings AG in Switzerland. Licensed by Norwegian FSA to underwrite insurance in all EEA countries (cross-border). Has UK Branch authorized by UK Financial Conduct Authority. Registered in Norway with share capital NOK 3,930,000.
• W. R. Berkley CorporationcoreStrategic or Co-development Partner · 1 January 1967Parent insurance holding company founded in 1967, among the largest commercial lines writers in the United States operating worldwide in Insurance and Reinsurance segments. Each Berkley company participates in a niche market requiring specialized knowledge. Decentralized operations allow quick response to market conditions.
• Berkley Insurance CompanycoreStrategic or Co-development PartnerBerkley Offshore underwrites insurance on behalf of Berkley Insurance Company. Rated A+ (Superior) by A.M. Best with Financial Size Category XV and A+ (Strong) by Standard & Poor's.
• StarNet Insurance CompanycoreStrategic or Co-development PartnerBerkley Offshore underwrites insurance on behalf of StarNet Insurance Company. Rated A+ (Superior) by A.M. Best with Financial Size Category XV and A+ (Strong) by Standard & Poor's.
• W. R. Berkley Europe AGcoreStrategic or Co-development PartnerBerkley Offshore underwrites insurance on behalf of W.R. Berkley Europe AG. Rated A+ (Superior) by A.M. Best with Financial Size Category XV and A+ (Strong) by Standard & Poor's.
• W. R. Berkley European Holdings AGcoreStrategic or Co-development PartnerParent company of Berkley European Underwriters, based in Switzerland. Part of the W.R. Berkley Corporation group.

Scale indicators3 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Liberty Specialty Markets (Liberty Mutual): Specialty arm of Liberty Mutual writing energy, marine, and construction liability through Lloyd's and European offices. Larger incumbent with overlapping product set and broker distribution.
• AXA XL (AXA Group): Large global specialty P&C platform with significant energy, marine, and offshore underwriting capacity. Competes with Berkley Offshore in similar specialty lines but as part of a much broader portfolio.
• Tokio Marine Kiln: Lloyd's-listed specialty insurer (part of Tokio Marine group) with established energy, marine, and liability divisions. Competes for the same broker-placed specialty risks as Berkley Offshore at greater scale.
• American International Group (AIG): Global P&C giant with marine, energy, and liability underwriting capabilities via broker channels. Overlaps with Berkley Offshore across specialty lines but as one segment of a much larger portfolio.

Direct peers

• Beazley plc: Lloyd's-listed specialty insurer operating marine, energy, and liability divisions through a dedicated broker channel. Closely overlaps with Berkley Offshore across marine hull, P&I, energy property, and offshore liability coverages.
• Lancashire Holdings: Bermuda-based specialty insurer with explicit energy and marine lines of business, targeting the same upstream E&P and offshore liability risks as Berkley Offshore via Lloyd's and Bermuda platforms.
• Aspen Underwriting Holdings: Specialty P&C insurer with energy, marine, and casualty divisions serving brokers with niche coverage. Comparable book mix and distribution approach to Berkley Offshore's three-divisional structure.
• Hiscox Ltd: Lloyd's-listed specialty insurer with dedicated energy, marine, and casualty teams writing through brokers. Overlaps with Berkley Offshore on niche commercial lines and international specialty accounts.
• Starr International Companies: Privately-held specialty insurer with energy, marine, and construction liability divisions targeting mid-to-large commercial accounts through brokers, structurally similar to Berkley Offshore's specialty model.
• Canopius Group: Lloyd's and global specialty insurer with marine, energy, and casualty capabilities accessed via brokers. Mid-tier specialty competitor with comparable niche orientation to Berkley Offshore.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/berkley-offshore-underwriting-managers

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Berkley Offshore