Sompo International has appointed Ron Willett to be its executive vice president for field management in the North American region, commercial insurance.
The firm said in a statement that Willett will report to Jonathan Monks, executive vice president, head of distribution, business development and client engagement for North America.
Willett, the company said, will be based in Boston, US, where he will be responsible for leading geographic expansion efforts while continuing to build the field infrastructure for the North America commercial insurance business.
Monks said: “Adding Ron to our team demonstrates our commitment toward business development activities focused on distribution management, client engagement, and expanding our regional geographic footprint. We are very excited to have him join Sompo International’s North American Region Insurance leadership team.”
Willett comes to Sompo International with over thirty years of industry experience, most recently as the North America retail distribution leader at AIG, where he has spent the last twenty-six years.
Chris Sparro, CEO, Sompo International North America, added: “I am thrilled to have Ron join us as we continue to broaden our reach in the field.”
Willett’s entry into the company comes just days after the firm signalled its intentions to grow its business within the markets of Canada, continental Europe, and southeast Asia.
The moves were intimated during a presentation given last Friday in Japan to senior executives at Sompo Holdings. It said that this will be achieved through the opening of new branch locations, expanding relationships with global clients, and pursuing what it called ‘transformative’ M&A and bolt-on acquisitions.
The firm predicted, too, that its gross written premiums for 2022 are set to hit $13,465m, up from $11,044m in 2020 and $12,272m in 2021. Adjusted profit is also predicted by the firm to go from $562m to $699m between 2021 and 2022. That same figure stood at $182m in 2020, although this included losses from the coronavirus pandemic of $118m.
