Mr. Wm. Berkley, Executive Chairman, founded the Company in 1967 and has been its Chairman of the Board since that time. He also served as the Company s Chief Executive Officer from 1967 to October 2015. He is the Company s largest stockholder with approximately 23.3% of the Company s common stock. Under Mr. Wm. Berkley s strategic leadership, the Company has grown and prospered significantly, with Mr. Wm. Berkley being widely recognized for his extensive expertise in and leadership of the insurance and reinsurance industries. In his role as Executive Chairman, Mr. Wm. Berkley helps the Board identify strategic priorities and investments, leads the Board in oversight and risk management responsibilities and facilitates and presides over Board meetings. The Board of Directors believes that his familiarity with the Company s business and industry and his unique perspective on the Company s culture and values position him well to understand the issues, opportunities and challenges the Company faces and to lead the Board in discussions and oversight of strategy. The Board of Directors believes that the Company s structure under Mr. Wm. Berkley s leadership as Executive Chairman serves the Board and its stockholders well.