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

Japan group seeks expertise in growing specialty insurance field

20250328N Mitsui Sumitomo Insurance

Overseas businesses now account for nearly 40% of the profit at the Mitsui Sumitomo Insurance group. (Photo by Natsumi Iwata)

JUN WATANABE

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.

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