W.R. Berkley Corp. announced on Friday that Mitsui Sumitomo Insurance Co. from Japan will acquire a 15% stake in the company. This purchase will happen through open market transactions or private deals with third parties. Notably, the Berkley family will retain all of their shares and will not sell any stock to facilitate this deal.
The agreement will not change how W.R. Berkley operates day-to-day. The Berkley family remains committed to the company and its future. Founded in 1967 by William R. Berkley and based in Greenwich, Connecticut, W.R. Berkley went public in 1973. Today, W. Robert Berkley Jr. serves as the president and CEO.
Rob Berkley expressed enthusiasm about the partnership, highlighting the long-standing relationship between the two companies, especially through their reinsurance operations. He sees this investment as a recognition of W.R. Berkley’s strong performance and growth. He also looks forward to exploring opportunities that could arise from MSI’s international presence.
As part of the agreement, once MSI acquires at least 12.5% of the shares, the Berkley family will recommend a representative from MSI to join W.R. Berkley’s board of directors. Before reaching that threshold, MSI will vote its shares according to the Berkley family’s recommendations, except in certain cases where they will vote in line with other shareholders.
The investment from Mitsui Sumitomo Insurance is expected to be finalized by the end of the first quarter of 2026, pending any necessary regulatory approvals.