Item 2. PROPERTIES

W. R. Berkley Corporation and its subsidiaries own or lease office buildings or office space suitable to conduct their operations. At December 31, 2024, the Company had aggregate office space of 4,177,891 square feet, of which 1,051,681 were owned and 3,126,210 were leased.

Rental expense for the Company's operations was approximately $45,718,000, $44,256,000 and $43,383,000 for 2024, 2023 and 2022, respectively. Future minimum lease payments, without provision for sublease income, are $48,822,000 in 2025, $41,861,000 in 2026 and $172,679,000 thereafter.