Business: W.R. Berkley Corp., 4.125% Subordinated Debentures due 2061, issued in $25 denominations, redeemable at the issuer's option on or after 03/30/2026 at $25 per debenture plus accrued and unpaid interest, and maturing 03/30/2061. <p> Interest distributions of 4.125% per annum ($1.03125 per annum or $0.2578125 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is at least one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p> This security is possibly subject to an early call before 03/30/2026 at 100% of their principal amount plus accrued and unpaid interest within 90 days of a tax event; before 03/30/2026 at 102% of their principal amount plus accrued and unpaid interest within 90 days of the occurrence of a rating agency event (see prospectus for further information). The issuer may elect to defer the interest payable on the Notes on one or more occasions for up to 60 consecutive months (see prospectus for further information). <p> This security was rated as Baa2 by Moody’s and BBB- by S&P at the date of its IPO. The Debentures are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.