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Mitsui Sumitomo Insurance acquires up to 15% of W.R. Berkley Corp., aiming for a board seat by March 2026.
Mitsui Sumitomo Insurance Co. (MSI) is buying up to 15% of W.R. Berkley Corporation's stock through market purchases or private deals.
The Berkley Family, owning about 16%, won't sell their shares.
MSI will follow the Berkley Family's voting advice once they own 4.9%.
If MSI acquires at least 12.5%, they'll get a seat on the board, pending approval.
This won't change daily operations and needs regulatory clearance, aiming to finish by March 2026.
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Mitsui Sumitomo Seguro adquiere hasta un 15% de W.R. Berkley Corp., con el objetivo de un asiento de la junta para marzo de 2026.