Ratings

W. R. Berkley Corporation Debt Ratings

	S&P	Moody's	Fitch	A.M. Best
Senior Debt	A-	Baa1	A+	a-
Subordinated Debt	BBB	Baa2	BBB	bbb+

Insurance Company Financial Strength Ratings

Insurance Company Name	S&P	Moody's	Fitch	A.M. Best
Acadia Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Admiral Indemnity Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Admiral Insurance Company	AA- (Very Strong)	A1	AA-	A+ (Superior)
Berkley Assurance Company	N/A	N/A	AA-	A+ (Superior)
Berkley Casualty Company	N/A	N/A	AA-	A+ (Superior)
Berkley Insurance Company	AA- (Very Strong)	A1	AA-	A+ (Superior)
Berkley Life and Health Insurance Company	N/A	N/A	N/A	A+ (Superior)
Berkley National Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Berkley Prestige Insurance Company	N/A	N/A	N/A	A+ (Superior)
Berkley Regional Insurance Company	N/A	N/A	N/A	A+ (Superior)
Berkley Specialty Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Carolina Casualty Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Clermont Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Continental Western Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Firemen’s Insurance Company of Washington, D.C.	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Gemini Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Great Divide Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Intrepid Casualty Company	N/A	N/A	N/A	A+ (Superior)
Intrepid Insurance Company	N/A	N/A	AA-	A+ (Superior)
Intrepid Specialty Insurane Company	N/A	N/A	N/A	A+ (Superior)
Key Risk Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Midwest Employers Casualty Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Nautilus Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Preferred Employers Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Queen's Island Insurance Company	N/A	N/A	N/A	A+ (Superior)
Riverport Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
StarNet Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Tri-State Insurance Company of Minnesota	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Union Insurance Company	AA- (Very Strong)	N/A	AA-	A+ (Superior)
Union Standard Lloyds	AA- (Very Strong)	N/A	AA-	A+ (Superior)
W. R. Berkley Europe AG	AA- (Very Strong)	N/A	N/A	A+ (Superior)
Berkley International Seguros Mexico S.A.	N/A	N/A	N/A	A+ (Superior)
Berkley International Fianzas Mexico S.A.	N/A	N/A	N/A	A+ (Superior)