Sompo Global Risk Solutions (GRS), a specialty property and casualty re/insurer and part of Sompo International, has formed a new London-based team designed to serve the European market through retail brokers.
Sompo GRS Europe builds on Sompo International’s existing London Market and SIIE European platform business.
The move is also intended to support the growth of Sompo GRS, which has traditionally offered comprehensive multi-line capabilities through a network of retail brokers to companies with operations in the US and Mexico.
Sompo GRS Europe will offer commercial property, primary and excess casualty, and environmental coverage, as well as parametric natural catastrophe products.
Adam Bergen will lead as Vice President, Sompo GRS Head of Europe. He will be based in Sompo International’s London office.
The new team will target accounts in select industries and the unit will encompass dedicated teams of underwriting, actuarial, claims and risk control specialists.
“Our integrated industry vertical model has provided Sompo GRS a solid foundation for profitable growth,” said Michael Chang, CEO of Sompo Global Risk Solutions.
“We are excited to build on the momentum we’ve created in markets like the U.S. and Mexico as we position ourselves to meet the risk management needs of clients with exposures in the European market.
“This expansion enables Sompo GRS to work directly through Sompo International’s extensive European network of retail brokers in order to offer our white-glove service model and holistic approach to risk management to U.S. based multinationals and other companies operating in the region.”
Julian James, CEO, International Insurance for Sompo International, noted, “At this critical time of tremendous change and challenge for our business partners and clients, our ability to provide the best possible service is vital.
“The launch of GRS in the UK and Europe is a great addition to our ability to do that, with businesses needing comprehensive risk management services and multi-line capabilities more than ever before.”
