Sompo International has appointed Kimberly Iacocca to be its new senior vice president and head of financial institutions for its US Financial Lines business unit.
Promoted from Vice President, Financial Institutions, U.S. Financial Lines, Iacocca will be responsible for overseeing the underwriting, distribution and management of the U.S. Financial Institutions team.
Ray Santiago, EVP and head of U.S. Financial Lines at Sompo International, said: “Kim’s underwriting acumen, market relationships and history with the Sompo International FI team make her a terrific choice to lead this team of dedicated individuals.”
He added: “She has helped to drive the unit’s significant portfolio growth over the past two years and we are excited by the opportunities that lie ahead for the U.S. FI business unit. I’m looking forward to working closely with Kim as we continue to expand our portfolio and deepen our relationships in the Financial Institutions insurance market.”
The news comes on the same week that Sompo International revealed that 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 $785.4 million, with the increase primarily due to rate improvements and growth of crop insurance business.
