Sompo International, a global provider of commercial and consumer property and casualty (P&C) re/insurance, has announced that it has been granted a licence to write primary insurance in France by the French Prudential Supervision and Resolution Authority (ACPR).
This move further extends the company’s commercial P&C insurance capabilities and product offerings across Continental Europe.
“The granting of the French primary insurance license not only supports the company’s strategic expansion but further strengthens our position in Continental Europe,” commented Ralph Brand, Sompo International’s President, Continental Europe Insurance.
“Buyers in France are increasingly looking for carriers with a local presence who can offer the capital, risk appetite and risk management capabilities they need to address the challenges they face.
“Our expertise across a range of insurance lines, coupled with our financial strength, make us an attractive business partner,” he added.
In December, Sompo International appointed Elena Talegón as Head of Marine Insurance for Iberia.
She joined the firm from global insurer RSA, where for the last 12 years, she served as a Senior Marine Underwriter.
In this role, he will be responsible for the firm’s outbound reinsurance placements.
