Sompo, a provider of commercial and consumer property and casualty insurance and reinsurance, has expanded its Australian operations by recruiting a team of nine local underwriters with expertise across property, casualty, financial lines, energy, and construction.
The team will be based in offices located in Sydney and Melbourne, subject to regulatory approvals.
Paul O’Neill, President of Commercial P&C Lines for Asia Pacific (APAC), will oversee the Australian operations, as the new team reports to him.
This is part of Sompo’s long-term strategic growth plan to strengthen its presence and long-term commitment to the regional market.
The team’s extensive market knowledge is expected to enhance the re/insurer’s capabilities, support strong governance, and position the business to deliver solutions to clients and brokers throughout the region.
Kenneth Reilly, Chief Executive Officer, Insurance, APAC, Sompo, commented, “Sompo has been operating in Australia for more than 60 years, and today’s expansion represents another important step towards building a diversified global P&C platform with strong positions in the markets that matter most to our clients and broker partners.
“Ensuring that we are regionally aligned and locally empowered will help us drive scale, materiality and sustainable profitability. We look forward to delivering the level of service, underwriting excellence, and long-term partnership that the Australian market expects from Sompo.”
O’Neill added, “I am delighted to welcome this outstanding team to Sompo. Their expertise, combined with our collective ambition to deliver impactful solutions, positions us strongly from day one.
“By investing in an established and highly respected team and focusing on growth opportunities aligned with our core business strengths, we will support clients, brokers, and our other business partners while ensuring seamless operations and compliance with local regulations.”
