MS&AD invests in W.R. Berkley, aims for U.S. expansion

MS&AD Insurance Group Holdings, through subsidiary Mitsui Sumitomo Insurance, is investing in W.R. Berkley Corporation (WRB), a Fortune 500 specialty insurance leader, by acquiring 15% of its outstanding common stock, sourced from the market and third parties over a reasonable time frame. As part of the agreement with WRB's founding family, MS&AD will have the right to nominate a director to WRB's board, expected by March 2026. Through this collaboration, MS&AD aims to benefit from WRB's expertise in the U.S. market, complementing MS&AD's strengths in Japan and Asia, while also exploring mutually beneficial opportunities leveraging WRB's specialty underwriting capabilities, enhancing MS&AD's portfolio diversification, earnings, and capital efficiency, with plans to work with the family to increase the corporate value of WRB, with the agreement not expected to impact WRB's daily operations, nor will there be any changes to MSI’s U.S. operations.