WR Berkley Corp, a Delaware corporation, is an insurance holding company. The Company operates in property casualty insurance business and has three segments: Insurance-Domestic; Insurance-International and Reinsurance- Global. These three business segments are composed of individual operating units that serve a market defined by geography, products, services or types of customers. Insurance-Domestic is comprised of commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States. It underwrites specialty risks within the excess and surplus lines market and on an admitted basis. The specialty lines of business include premises operations, commercial automobile, property, products liability and professional liability lines. The customers are diverse. Each operating unit delivers their products through a variety of distribution channels, depending on the customer base and particular risks insured. Some of the operating units comprising the Insurance-Domestic segment are as follows: Acadia Insurance; Admiral Insurance; American Mining Insurance; Berkley Accident and Health; Berkley Asset Protection; Berkley Aviation; and Berkley Custom Insurance; Berkley Design Professional; Berkley Life Sciences; Berkley Medical Excess; Berkley Mid-Atlantic Group. Insurance-International consists of business in the United Kingdom, Continental Europe, South America, Canada, Scandinavia, and Australia. Reinsurance- Global consists of reinsurance business on a facultative and treaty basis in the United States, United Kingdom, Continental Europe, Australia, and the Asia-Pacific Region. Through Insurance-International the Company writes businesses in almost 40 countries internationally with branches or offices in 15 locations outside the United States, including the United Kingdom, Continental Europe, South America, Canada, Scandinavia, and Australia. The operating units are Berkley Canada; Berkley Latinoamerica; W. R. Berkley Insurance (Europe); and W. R. Berkley Syndicate 1967 at Lloyd's. In Reinsurance- Global, the Company provides other insurance companies and self-insures with assistance in managing their net risk through reinsurance on either a portfolio basis, through treaty reinsurance, or on an individual basis, through facultative reinsurance. The operating units are Berkley Re America; Berkley Re Asia Pacific; Berkley Re Direct; Berkley Re U.K.; Facultative ReSources; and Lloyd's Reinsurance. The Company follows a common industry practice of reinsuring a portion of its exposures and paying to reinsurers a portion of the premiums received on the policies that that the Company writes. The Company competes directly with a large number of these companies. Competition for Insurance-Domestic business comes from other specialty insurers, regional carriers, large national multi-line companies and reinsurers. Insurance-International operation competes with native insurance operations both large and small, which in some cases are related to government entities, as well as with branches or local subsidiaries of multinational companies. The Reinsurance- Global business comes from domestic and foreign reinsurers, which produce their business either on a direct basis or through the broker market. These competitors include Swiss Re, Munich Re, Berkshire Hathaway, Transatlantic Reinsurance, Partner Re and others.