Bermuda-based specialty re/insurer Sompo International Holdings has created a Global Transactions Group, which will take overall responsibility for all mergers and acquisitions (M&A), intercompany transactions and joint ventures.
The group, comprising of senior professionals at Sompo, will be tasked with overseeing both insurance and non-insurance transactions, such as insurtech and healthcare services companies, in over 30 countries.
Nigel Frudd, Senior Executive Vice President, Chairman of Overseas M&A, Sompo Holdings, Inc. and Chief Executive Officer of Sompo International, has been appointed to lead the Global Transactions Group.
Meanwhile, Mikio Okumura, Group Chief Strategy Officer and Executive Vice President, Sompo Holdings Inc., will coordinate domestic Japan transactions.
Additional members of the Group will include Senior Executives of both Sompo Holdings and Sompo International.
A global specialist legal and tax function is embedded within the Group, Sompo added.
“The launch of the Transactions Group is the culmination of five years of hard work to create a truly global and elite transactions function,” said Frudd.
“With global connectivity increasing, this Group will provide agile coordination internally and externally in order to more efficiently manage relationships with our investment bankers, lawyers, accountants, actuaries and other professional advisors,” he explained.
“A key component of Sompo’s strategy is to expand our worldwide footprint both in the insurance world and also in the healthcare services arena, which Sompo is pioneering in Japan.”
Okumura also commented: “It is a significant step forward for the Sompo Group to create this Global Transactions Group, utilizing the specialist knowledge we have built up over the years.
“It will enhance quick and agile decision making on transactions as well as giving Sompo a more informed approach to transaction strategy and execution by sharing our expertise worldwide.”
