Sompo International has moved its headquarters in Germany from Dusseldorf to Cologne.
The move will see the Bermuda-based specialty provider of property and casualty insurance and reinsurance take up new offices on Opladener Straße 8, 50679, close to the city’s main train station.
Eric J. Kox, country manager for Germany at Sompo International, said that the move was part of the company’s growth strategy within Germany and across Europe.
He added: “We have operated in Germany for over 50 years providing Property, Casualty and Specialty solutions to our Japanese interest accounts and brought our Financial Lines offering to the broader German market several years ago.”
He went on: “We have now launched our German Global Risk Solutions business unit and are excited to continue to grow and bring more of our expertise in specialty lines, comprehensive vertical solutions and risk services to the German market. We’re looking forward to our new home in Cologne, a dynamic and international insurance market, making it the ideal location for Sompo International.”
The company has been working on strengthening its German operations in recent months, having recruited Kox in November to his current position. It is understood that it launched its professional lines team in Germany around three years ago.
Sompo International has made a few headlines on Reinsurance News recently. We just reported that the firm has promoted Kimberly Iacocca to be its new senior vice president and head of financial institutions for its US Financial Lines business unit.
Meanwhile, recent news has seen the firm reveal that it it has recorded profits of $384m in Q3 2021, up $294m on Q3 2020. The firm’s net written premiums increased by $178.6m during 3Q to end the period at $785.4m, with the increase primarily due to rate improvements and growth of crop insurance business.
