HONORING THE MEMORY OF MR. WILLIAM R. BERKLEY

On 2026-06-24, Representative Richard E. Neal (D-MA-1) delivered a floor speech titled "HONORING THE MEMORY OF MR. WILLIAM R. BERKLEY" in the House.

HONORING THE MEMORY OF MR. WILLIAM R. BERKLEY

Congressional Record, Volume 172 Issue 106 (Wednesday, June 24, 2026) [Congressional Record Volume 172, Number 106 (Wednesday, June 24, 2026)] [Extensions of Remarks] [Pages E614-E615] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] HONORING THE MEMORY OF MR. WILLIAM R. BERKLEY ______ HON. RICHARD E. NEAL of massachusetts in the house of representatives Wednesday, June 24, 2026 Mr. NEAL. Mr. Speaker, I rise today to honor the memory of a great business and charitable leader from New England, Mr. William R. Berkley, to celebrate his life and extraordinary achievements. Tragically, Bill died suddenly from a heart attack. His accomplishments in business are undeniable but somewhat beneath the radar as he eschewed the spotlight unless it was to further some greater purpose. His success in business allowed him to ``pay it forward'' in many ways, including board leadership of several educational and charitable organizations and generous giving through a family foundation, as described more fully below. He is a strong believer in the American Dream and wants to foster it for others as best he can. He recently shared his private collection of rare documents in an exhibit entitled ``The Declaration of Independence: Long Trail to Liberty'' at NYU's Grey Art Museum and was in the process of creating a museum in New York City to celebrate American history and opportunity. Bill founded his company W.R. Berkley Corporation nearly 60 years ago. Since that time, the company, which is headquartered in Greenwich, Connecticut, has grown from a small investment management firm into one of the largest commercial lines property and casualty (P&C) insurers in the United States. Comprising nearly sixty specialty insurance businesses and employing over 8500 people worldwide, the company is a Fortune 500 company and a member of the S&P 500 with gross written premiums exceeding $10 billion. The company was largely a reflection of Bill, as he was affectionately known. The company's driving purpose is to provide customers ``peace of mind'' and its core tenet is striving ``to do the right thing.'' Bill strongly believed that the integration of service, integrity and fairness in the company culture was central to building trust and loyalty among the company's customers, partners, and employees. This strong sense of purpose, determination and drive was forged in Bill's childhood largely out of necessity in response to a tragic event. When Bill was eleven, his father was killed when the company plane he was on crashed. Determined not to burden his mother and to help out financially, Bill started selling Austin biscuits first in his apartment complex and later to the owner of the local grocery store. Impressed by the young man, the store owner soon offered Bill a job. As Bill recalled the experience, ``it was there that I learned to work hard and longer than anyone else in the market. I wanted to learn all I could about the business and soon I was giving the owner advice that would improve his operations. Mentally, I pretended I owned the store, which made me take responsibility for all I did.'' Bill also started a paper route and learned how to invest the proceeds from these jobs from a neighbor who was a stockbroker. Still, he did not have enough money to afford to go to the University of Pennsylvania, his first choice. Fortunately, he was offered a full scholarship to attend NYU, which he quickly accepted. Bill often referred to that as his ``big break.'' Bill excelled there, graduating in three years with a double major in statistics and finance. He subsequently received an MBA from Harvard Business School, which he largely paid for with the proceeds of selling a large paper route he had started while at NYU. At Harvard, Bill once again exhibited his extraordinary business acumen, starting and running a $2 million investment fund out of an apartment with a classmate, Paul Dean. Berkley, Dean & Company quickly grew to managing $10 million in assets. At this point, another event helped shape Bill's world view and business ethos. While at [[Page E615]] Harvard, he had interned and later worked full time at Fidelity Management Research Company until he completed his MBA. While he was offered a permanent position at Fidelity upon graduation, he knew he wanted to start his own business. Ned Johnson, the then chair at Fidelity, initially offered a $25, 000 investment in Bill's new company. However, Fidelity's advisors effectively nixed the new investment. This could have crushed Bill's dream of starting a new business. Fortunately, Ned Johnson decided to keep his commitment and gave Bill the money as a consulting fee. Bill later said, ``This was a huge lesson for me. From then on, I've known the importance of keeping your word and honoring your commitments.'' Bill spent the next 45 years building, leading, and growing W.R. Berkley into a leading provider of P&C insurance globally. Ten years ago, he relinquished the reins as CEO to his son Rob Berkley, but he remained the Executive Chairman of the company until his death and the company still bears his imprint and influence. Even after turning 80, Bill continued to go in early every morning because ``I just find it exciting'' and ``I want to improve the company every day.'' Rob says that his father was ``always encouraging his colleagues to think outside of the box and not to accept the status quo.'' And Bill also never lost sight from where he came and the forces and lessons that led to his success, looking to ``pay it forward'' often. Bill and his wife Marjorie, through their family foundation, have focused their philanthropy on three primary areas: education, health and environmental issues. For example, the family's foundation recently gave a ``transformative gift'' to expand the Georgetown University School of Nursing, a natural intersection of their interest in education and health, designed to help address the Nation's shortage of nurses. Bill also gave back with his time by serving on numerous corporate boards, providing leadership, advice, and support. He 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, devoted to fostering inter-religious dIalogue with a goal of improving global cultural understanding. He also was a former Vice Chair of the Board of Trustees of the University of Connecticut and former Chairman of Achievement First, a group of charter schools operating in the Northeast, serving over 15,000 inner-city children. And he was an Emeritus member of the Board of Directors of the National Parks Conservation Association, after serving on the Board for many years. But most of all, Bill gave back to NYU--the school he credited with providing him the opportunity for a free education that supported his success. Most notably, he had recently retired as Chairman of the New York University Board of Trustees. He also served in several other board leadership capacities at NYU over three decades, including at the NYU Stern School of Business and the Langone Medical Center. Marjorie and him made several large gifts to the school's Leonard N. Stern School of Business. These efforts were focused on expanding access to education through scholarships, reflectIng their belief in helping talented young people achieve their potential. ``I see education as giving you the framework to understand how everything works,'' Bill explained, ``It doesn't solve your problems, but it gives you something to build on. When combined with hard work and perseverance through challenging times, success is usually the outcome.'' Over the years, Bill received many awards for his business, civic and philanthropic activities, including most recently the Horatio Alger Award in 2024 ``bestowed upon exceptional leaders who have triumphed over adversity to achieve greatness.'' Bill exemplified how to lead a life guided by deep, constant purpose and fueled by optimism, determination, and industry. He built a company that is highly respected and an established leader in the insurance industry, as well as changed lives by providing charitable leadership and compassionate giving. Mr. Speaker, I honor Bill's legacy and recognize his achievements as a global entrepreneur, corporate and charitable leader, and philanthropist. I am deeply saddened by his sudden passing and offer my sympathies to his wife Marjorie and his children and grandchildren. ____________________