Insurance giant Sompo International has announced the opening of a new office in Birmingham, England, making it the firms first UK office outside of London.
Located at The Colmore Building in the Colmore Business District, Birmingham’s main business area, the office will be led by Matt Cullen, VP Retail Property and Kevin Green, VP Retail Casualty.
“This is a significant step forwards in creating a local presence outside of London and the latest stage in the growth of our UK regional portfolio. Initially our focus will be on writing property & casualty business, but with the potential for more lines to be added as the office grows,” said Richard Brown, Head of Property Retail, Global Markets.
He continued: “Having greater proximity to our clients and brokers in the UK regions will enhance our ability to understand their needs and deliver them the right solutions. They will have access to autonomous, empowered local underwriters with direct knowledge and experience of the markets they operate in.
“Working predominantly through international broking offices based in Birmingham, Manchester, Leeds, Glasgow and Bristol – as well as the largest independent brokers – we will target UK domiciled mono-national and multinational clients with turnover in excess of £100m in sectors including manufacturing, leisure & hospitality, retail, infrastructure and transport.”
Opening an office outside of London, and in one of the other largest cities in the UK, will certainly help drive more growth for the insurance giant within the country.
Meanwhile, the opening of this new office follows swiftly from last month’s announcement from Sompo International, that it had completed the sale of its run-off business, Endurance at Lloyd’s (EAL) to RiverStone Holdings.
Meanwhile, in November 2022, the firm also signalled its intentions to expand and grow within Canada, continental Europe, and southeast Asia.
