Berkley (WR) Corp | 5.70% Subordinated Debentures due 2058 (WRB.PRE)
Prospectus excerpt: We will pay interest on the debentures on March 30, June 30, September 30 and December 30 of each year, commencing June 30, 2018. We may defer interest payments during one or more deferral periods for up to five consecutive years as described in this prospectus supplement. On or after March 30, 2023, we may redeem the debentures, in whole at any time or in part from time to time, at their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption; provided that if the debentures are not redeemed in whole, at least $25 million aggregate principal amount of the debentures must remain outstanding after giving effect to such redemption.
W. R. Berkley is an insurance holding company. Co. operates in two segments of the property casualty insurance business: Insurance, which includes commercial insurance business, including excess and surplus lines, admitted lines and specialty personal lines throughout the U.S., as well as insurance business in the U.K., Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia; and Reinsurance, which provides reinsurance business on a facultative and treaty basis, primarily in the U.S., the United Kingdom, Continental Europe, Australia, the Asia-Pacific region and South Africa.