Mitsui Sumitomo Insurance to buy 15% of BlackRock-backed W.R. Berkley

Mitsui Sumitomo Insurance to buy 15% of BlackRock-backed W.R. Berkley Mitsui Sumitomo Insurance to buy 15% of BlackRock-backed W.R. Berkley

TOKYO — Japan’s Mitsui Sumitomo Insurance said Friday it will spend $3.8 billion to acquire a 15% stake in U.S. insurer W.R. Berkley in a bid to tap into the growing specialty insurance market.

The Japanese property insurer aims to finish the share purchase by the end of March 2026. It will appoint one director to W.R. Berkley’s board.