Bermuda-based specialty re/insurer Sompo International Holdings has announced the launch of SomPro, a global financial and professional lines platform that will deliver underwriting, risk management and claims services by sharing product expertise and distribution relationships across its specialty teams.
The company says SomPro will offer more than 30 different financial and professional lines insurance products as well as a suite of related reinsurance products, with broad licensing coverage through its company platforms and its Lloyds’ syndicate.
“The financial and professional lines market is an area where Sompo International has achieved significant scale and worldwide relevance,” said John Charman, Chief Executive Officer and Chairman of Sompo International.
“SomPro unites our broad capabilities around the globe, including those of our Japanese parent, Sompo Holdings, Inc, as we continue to focus on delivering superior service to our clients.”
The new platform will be comprised of over 100 dedicated underwriting and claims professionals operating across key global insurance markets including the U.S, Bermuda, UK, Europe and Asia.
The company says SomPro will be governed by a steering group comprised of senior professional lines leadership and chaired by Chris Donelan, Head of Global Casualty Reinsurance and President & Chief Underwriting Officer of North America Reinsurance.
“The creation of SomPro reflects Sompo’s commitment to this market and the depth of capabilities that we currently offer,” added John Kuhn, CEO of Global Insurance and CUO for Sompo International.
“Chris and our senior leaders bring a long-term perspective on the financial and professional lines space based on decades of experience in this important market.”
“We recently added a professional lines team in Continental Europe and have introduced several new transactional risk products.”
“We will continue to substantially enhance our products, quality underwriting approach and related services to address the evolving global risks and issues impacting our clients.”