Reinsurance News
22nd September 2021
Bermuda-based property and casualty re/insurer Sompo International has reached an agreement to purchase ARA 1857 S.p.A.- Assicurazioni Rischi Agricoli VMG 1857 (ARA), one of the leading players in the Italian agriculture insurance market. The deal, expected to close by the first quarter of 2022, will see ARA ... Read the full article
21st September 2021
Bermuda-based specialty property and casualty re/insurer Sompo International has announced the appointment of Windy Lawrence as its new General Counsel. Based in Sompo International’s New York City office, Lawrence will report to Chris Gallagher, Chief Executive Officer, Sompo International Commercial P&C and will serve on the Executive Leadership Team She succeeds John ... Read the full article
3rd September 2021
Sompo International has appointed Neville Weston as Head of Global Distribution and Product Development of its reinsurance platform. He will report to Christopher Donelan, CEO of Global Reinsurance, with the responsibility for assessing, devising and implementing key client and broker distribution growth initiatives, focusing on enhancing the reinsurance business’ underwriting deal ... Read the full article
12th August 2021
Sompo International Holdings has announced that Sompo Global Risk Solutions (GRS) will offer protection for epidemic and pandemic risk. The new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and ... Read the full article
10th August 2021
Sompo International has reported an adjusted profit of $128 million in the first quarter of 2021’s financial year, up from the $49 million hit in the prior year period. Meanwhile, gross premium written increased to $2.7 billion from $2.5 billion in the prior year period. This increase was primarily due to rate ... Read the full article
26th July 2021
Sompo International Holdings has appointed Sarah Spurling to lead its Professional Lines Business Unit in Bermuda. Spurling will have responsibility for the three segments within Professional Lines, including Commercial, Bermuda Sompo Pro and Financial Institutions. She has spent her underwriting career at Sompo International, which she joined in 2005. She currently leads the ... Read the full article
19th July 2021
Bermuda-based specialty re/insurer Sompo International has announced the appointment of Marco Serra as Vice President, Professional Lines. Serra has over two decades of European insurance experience in Italy, the UK and Spain for businesses such as AIG, ANV and Navigators. He joins from ArgoGlobal Assicurazioni in Rome, where he was Chief Underwriting ... Read the full article
9th July 2021
Bermuda domiciled insurer and reinsurer, Sompo International Holdings Ltd., has announced the establishment of Sompo Global Risk Solutions (GRS) Asia-Pacific within its Commercial Property & Casualty (P&C) segment. The expansion sees the formation of a new team in Singapore to serve select industries in the Asian markets via appointed brokerages. The launch ... Read the full article
29th June 2021
Specialty property and casualty re/insurance broker Protecdiv has announced the completion of its first transaction for Sompo International with strategic partner BMS Group. The transaction was conducted as part of the co-brokering partnership Protecdiv has with BMS Group and is the first transaction executed alongside BMS Re. Protecdiv first announced its ... Read the full article
25th May 2021
Sompo International Holdings has appointed James Shea as Executive Chairman of the Board of Directors and he will also become Chief Executive Officer (CEO) of Overseas Insurance and Reinsurance Business for Sompo, succeeding John Charman who has been with the company for eight years. Shea’s appointments will take place in September, ... Read the full article
21st May 2021
Bermuda-based specialty P&C re/insurer Sompo International Holdings has announced the appointment of Billy Moore as Senior Vice President of Agency Management for AgriSompo North America, Sompo International’s North American crop insurance platform. In this role, Moore will be responsible for the overall management of agency relationships and the marketing of the ... Read the full article
20th May 2021
Sompo International has reported a JPY 20 billion ($9,176 billion) decrease in profits for its business over the full-year 2020 period, which the company attributes to the impact of the COVID-19 pandemic. For the 2021 fiscal year, Sompo is forecasting an underwriting profit of $459 million, compared to its profit of ... Read the full article
1st April 2021
Bermuda-based specialty P&C re/insurer Sompo International Holdings has added Maxine Goddard to its International Insurance Strategic Distribution and Development team as Senior Vice President, effective April 1, 2021. Goddard previously spent 20 years with Zurich Insurance, most recently as Director, Senior Commercial Operations Business Partner. The Business Development team at Sompo International ... Read the full article
12th February 2021
Sompo International’s profits decreased by $228 million over the 3Q FY2020 period, largely due to the negative impact of COVID-19 on the business’s results. The Sompo Holdings subsidiary recorded adjusted profit of just $46 million for the period, after sustaining an underwriting loss of $178 million from COVID-19 and natural disasters. Investments ... Read the full article
11th January 2021
Bermuda-based specialty property and casualty re/insurer Sompo International has added Stephen R. Raymond to its US Sompo Pro team. Raymond, who joins with over 30 years’ experience, will serve as Vice President, Architects and Engineers (A&E). His A&E professional liability underwriting and product development experience spans various client segments. Raymond joins from Ironshore, ... Read the full article
