Vela Insurance Services is a subsidiary of W. R. Berkley Corporation that specializes in reinsurance. W.R. Berkley Corporation, a Fortune 500 company, is a provider of commercial lines property and casualty insurance with more than 30 subsidiaries that operate autonomously. Its subsidiaries are grouped into five market segments that include regional property, casualty insurance, reinsurance, specialty insurance, alternative markets and international operations. Founded in 1967, W.R. Berkley Corporation has assets of more than $9 billion. Vela Insurance Services maintains an office in Chicago.