India, March 28 -- Shares of W. R. Berkley Corp. (WRB) were gaining around 9 percent in the pre-market activity on the NYSE after the insurance holding company on Friday confirmed that Mitsui Sumitomo Insurance Co., Ltd. has agreed to purchase 15 percent of its common stock.
In a statement, the company noted that the Japanese property and casualty insurance carrier has entered into an Investment and Voting Arrangement with a company owned by members of the Berkley family and trusts for their benefit. The stock purchase will be through open market purchases or private transactions with third parties.
Mitsui's investment, subject to customary regulatory approvals, is anticipated to be completed by the end of March 2026.
The Berkley Family ...