A wholly owned subsidiary of Sompo International Holdings Ltd. (SIH) has successfully completed the acquisition of Aspen Insurance Holdings Limited through the purchase of 100% of the issued Class A ordinary shares of Aspen.
The closing follows the initial $3.5 billion deal announced in August 2025.
Mikio Okumura, Sompo Group CEO, said, “Today marks an important milestone in our strategy to continue Sompo’s plans for profitable growth, to deploy capital strategically and to ensure a globally diversified Property & Casualty (P&C) platform. I am pleased to welcome the Aspen team to Sompo.”
Under the terms of the agreement, Aspen will now operate under the Sompo Group umbrella and begin transitioning to the Sompo brand.
As part of the leadership transition, Mark Cloutier will move from his current leadership post into an advisory role for Sompo.
While Aspen’s Class A ordinary shares have ceased trading on the New York Stock Exchange, the company’s preference shares will remain outstanding and continue to list on the NYSE.
According to the announcement, the relative rights, terms and conditions will remain unchanged, though Sompo and Aspen may from time to time seek to redeem or repurchase and/or delist them in the future.
James Shea, CEO of Sompo P&C, said: “This transaction continues our commitment to invest in and grow our global P&C footprint through market cycles. The addition of Aspen’s reinsurance and insurance portfolios along with a more substantial presence in the UK enable us to accelerate our commitments to our customers, people and shareholders.
“We look forward to welcoming our new colleagues and continuing to build our global portfolio through investments in people and technology. Aspen’s culture of underwriting and customer focus will ensure a smooth transition as we engage as one organization with our customers and partners.”
According to credit rating agency, AM Best, the Aspen acquisition could have “material benefits in Sompo group’s business profile following the acquisition of Aspen.”
In September 2025, following the initial announcement, AM Best placed the Financial Strength Rating (FSR) of Sompo Japan Insurance Inc. and its subsidiaries under review with positive implications.
The credit rating agency believes that the move could accelerate Sompo’s geographic diversification and lead to a significant enhancement in its presence in the global property and casualty re/insurance market.
