W. R. Berkley jumps after confirming Mitsui Sumitomo intends to purchase 15% of shares

Shares of commercial insurer W.R.Berkley WRB.N up 14.2% to $75.82

WRB hits record high and is the highest gainer on S&P 500 .SPX index

Co confirms Mitsui Sumitomo Insurance (MSI) entered into an arrangement with the Berkley family and intends to purchase 15% of WRB's shares in open market or private transactions from third parties

Berkley family will not be selling any of its common stock to MSI, nor will MSI purchase any shares from WRB

MSI's investment is anticipated to be completed by end of March 2026

Including session's move, WRB up 29.6% YTD; it rose 26.5% in 2024