Greenwich-based commercial lines insurer W. R. Berkley Corp. said Japanese property and casualty insurer has acquired beneficial ownership of at least 12.5% of its outstanding common stock.
The buyer is Mitsui Sumitomo Insurance Co., and the purchase stems from previously announced agreements between Mitsui and a company owned by members of the Berkley family and related trusts.
No shares were purchased directly from Berkley or the Berkley family.
Under the agreements, Mitsui Sumitomo’s shares will generally be voted in line with the Berkley family’s recommendations, with limited exceptions, according to W. R. Berkley. The insurer expects to complete its investment in the first quarter of 2026, Berkley said.
W. R. Berkley, founded in 1967, is one of the largest commercial lines writers in the United States.
AloJapan.com