EXHIBIT 99.1








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  W. R. Berkley Corporation                   NEWS
  165 Mason Street, P.O. Box 2518             RELEASE
  Greenwich, Connecticut 06836-2518
  (203) 629-3000
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           FOR IMMEDIATE RELEASE                CONTACT: Eugene G. Ballard
                                                         Senior Vice President-
                                                         Chief Financial Officer
                                                         and Treasurer
                                                         203-629-3000


                    W. R. BERKLEY CORPORATION TO ENTER EXCESS
                           MEDICAL MALPRACTICE MARKET

     Greenwich, CT, December 18, 2001 -- W. R. Berkley Corporation (NYSE: BER)
today announced its entrance into the excess medical malpractice market with the
formation of Berkley Medical Excess Underwriters, LLC. Berkley Medical Excess
Underwriters will be based in St. Louis, Missouri and will underwrite on behalf
of various W. R. Berkley Corporation insurance subsidiaries.

     Berkley Medical Excess Underwriters will offer excess coverage for
healthcare providers that are either self-insured or maintain their own captive
facilities and reinsurance coverage for primary insurance companies that provide
medical malpractice coverage to physicians and other commercial healthcare
providers.

     J. Michael Foley, immediate past chairman and chief executive officer of
Midwest Employers Casualty Company, a subsidiary of W. R. Berkley Corporation,
has been named as the president and chief executive officer of Berkley Medical
Excess Underwriters. Mr. Foley has over 16 years of experience running a
statistically-driven and profit-oriented underwriting operation and brings a
unique combination of experience and skills to the position.

     Commenting on the new venture, William R. Berkley, chairman and chief
executive officer of W. R. Berkley Corporation said, "We are excited about the
opportunity developing in the excess medical malpractice marketplace due to
severe contractions by other carriers. We are delighted to






W. R. Berkley Corporation                                                      2
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have Mike Foley leading our efforts in entering the market at the right time and
in the proper manner. We believe that building a position in the market with
actuarially based pricing models will provide much needed stability in a
volatile market. We are positioned to apply our expertise to a niche market
segment in need of rational capacity."

     Founded in 1967, W. R. Berkley Corporation is an insurance holding company
which operates in six segments of the property casualty insurance business:
specialty insurance, alternative markets, reinsurance, regional property
casualty insurance, international and inactive business.

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 2001 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 excess medical
malpractice business, the long-tail and potentially volatile nature of the
reinsurance business, product demand and pricing, claims development and the
process of estimating reserves, the uncertain nature of damage theories and loss
amounts and the development of additional facts related to the attacks of
September 11, 2001, the increased level of our retention, natural and man-made
catastrophic losses, including as a result of terrorist activities, the impact
of competition, the availability of reinsurance, the ability of our reinsurers
to pay reinsurance recoverables owed to us, investment results, exchange rate
and political risks, legislative and regulatory developments, changes in the
ratings assigned to us by ratings agencies, the effects of the refocusing of our
business, including our withdrawal from the personal lines business, uncertainty
as to reinsurance coverage for terrorist acts, the availability of dividends
from our insurance company subsidiaries, our successful integration of acquired
companies or investment in new insurance ventures, 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 could
cause actual results of the industry or our actual results for the year 2001 and
beyond to differ materially from those expressed in any forward-looking
statement made by or on behalf of the Company. 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.


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