Overview

• Mitsui Sumitomo Insurance (MSI) plans to purchase 15% of W. R. Berkley Corporation's shares via open market transactions or private deals with third parties.
• The Berkley Family will retain its shares and continue its operational and governance commitments to the company.
• MSI has agreed to vote its shares in line with the Berkley Family's recommendations once it acquires 4.9% of the company's stock.
• If MSI reaches a 12.5% stake, the Berkley Family will support the nomination of an MSI-backed director to the board.
• W. R. Berkley Corporation's stock surged to a record high following the announcement, reflecting strong market confidence in the partnership.