Greenwich-based commercial lines property and casualty insurance holding company W. R. Berkley Corp. will replace Viacom Inc. on the S&P 500 effective Dec. 5, where it will continue to trade as WRB.
CBS Corp. is expected to complete its merger with Viacom on Dec. 4; the combined company, ViacomCBS Inc., will trade as VIAC on the Nasdaq.
Replacing W. R. Berkley on the S&P MidCap 400 is insurer RLI Corp., which itself will be replaced on the S&P SmallCap 600 by real estate firm The St. Joe Co.
“Inclusion in the S&P 500 is a milestone for our company and reflects the tireless efforts of the many people who have contributed to our growth and success for more than 50 years,” said President and CEO W. Robert Berkley. “As always, we remain focused on delivering outstanding risk adjusted returns and superior value creation to our shareholders by offering valuable products and services to our customers and creating a rewarding environment for our employees, while supporting the communities in which we live and work.”
Last week, Berkley combined its two health care-centric operating units, BerkleyMed and Berkley Healthcare, into a single operating unit under the name Berkley Healthcare.