Reinsurance News
24th July 2018
A.M. Best has upgraded the financial strength rating of Sompo International Holdings Ltd. subsidiaries, Lexon Insurance Company and Bond Safeguard Insurance Company, from B++ (Good) to A+ (Superior), and the Long-Term Issuer Credit Ratings from “bbb” to “aa-”, with a stable outlook. The two firms were previously subsidiaries of Lexon Surety Group LLC, before being acquired ... Read the full article
29th June 2018
Sompo International Holdings, the Bermuda-based specialty provider of property and casualty (P&C) re/insurance, has developed a new suite of weather-driven risk management products for the real estate and hospitality sectors. The products will provide coverage for loss of revenue from variations in weather variables, and are customised for each client’s risk ... Read the full article
15th June 2018
Bermudian re/insurers Sompo International Holdings has announced the launch of a new Transaction Risk Insurance line of business through its European Speciality platform, expanding its current Professional Lines insurance offerings in Europe. The program targets parties - both public and private - domiciled or conducting its core business throughout Europe, on ... Read the full article
4th June 2018
Bermudian property and casualty (P/C) re/insurer Sompo International Holdings (SI) has acquired Lexon Surety Group (Lexon), the second largest independent surety insurer in the United States. Lexon is comprised of Lexon Insurance Company, Bond Safeguard Insurance Company and Fortress National Group. The acquisition is expected to positively impact the subsidiaries’ financial ... Read the full article
8th May 2018
Sompo International Holdings has reached a milestone in its Brexit preparation plans with the integration of Sompo Japan Nipponkoa Insurance Company of Europe Limited (SJNKE), which is now a wholly-owned subsidiary of Sompo International. In March 2018, Sompo International received regulatory approval to establish its new subsidiary, SI Insurance (Europe), ... Read the full article
1st May 2018
S&P Global Ratings has upgraded its long-term issuer credit and financial strength ratings for Sompo International Holdings’ (SIH) core operating companies, from A to A+. SIH and its operating subsidiaries are also considered to have a stable outlook, and S&P raised its long-term issuer credit and senior debt ratings on SIH ... Read the full article
25th April 2018
Bermuda domiciled property and casualty (P&C) insurer and reinsurer, Sompo International Holdings Ltd., has announced that its Chief Executive Officer (CEO) of Global Insurance, John (Jack) Kuhn, will also assume the new role of Chief Underwriting Officer (CUO) for Sompo International’s P&C business. In his new role, Kuhn will undertake leadership responsibilities across the re/insurer's ... Read the full article
23rd April 2018
Bermudian property and casualty (P&C) re/insurer Sompo International Holdings (SI) has received the necessary regulatory approvals for the establishment of its new subsidiary, SI Insurance (Europe) (SIIE) in Luxembourg, in preparation for the UK’s departure from the European Union (EU) in 2019. Sompo International Insurance Europe (SIIE) will become operational later ... Read the full article
16th April 2018
Sompo Global Risk Solutions (GRS) is to offer umbrella insurance on U.S accounts in the commercial real estate and hospitality industries to a new casualty insurance risk purchasing group developed by HUB International Limited (HUB). Sompo GRS, which is a subsidiary of Bermuda-based specialty property and casualty (P&C) re/insurer Sompo International, ... Read the full article
10th April 2018
Sompo International Holdings Ltd. (SI) has announced plans to establish a new retail platform that will facilitate its integration of all international operations outside of Japan that belong to Sompo Holdings. The integration expands the Sompo universe now under the direction of industry veteran John Charman. Sompo International has already completed the ... Read the full article
9th April 2018
Sompo International, the Bermuda headquartered specialty lines and reinsurance unit of Sompo Holdings, has hired Patrick Cove from rival Qatar Re to become the firms new Global Head of Aviation Reinsurance business. Cove joins the Sompo International Global Specialty Reinsurance Team and takes on responsibility for reinsurance business in the airline ... Read the full article
9th April 2018
Sompo International has appointed Jonathan Monks and Ben Tasse as Senior Vice Presidents, Business Development, for the company’s U.S Insurance platform. Monks and Tasse will now work to develop the platform’s interactions with key U.S distribution markets and build broker/agent relationships, and will report to Chris Sparro, Chief Executive Officer (CEO) ... Read the full article
28th March 2018
Bermuda-based speciality re/insurer Sompo International has completed the acquisition of Italian agriculture insurer A&A. The acquisition supports the strategic objective of AgriSompo, Sompo International’s global agriculture platform, to deliver coordinated risk management solutions tailored to local needs across the agri-business market. Sompo plans to expand AgriSompo by leveraging the firm's extensive agriculture ... Read the full article
9th March 2018
Sompo International has announced that Victor Sordillo, current Senior Vice President, Loss Control has been appointed Loss Control leader for all of Sompo International Insurance, and that Christine Sullivan will become Senior Vice President, Loss Control Leader, Sompo Global Risk Solutions (GRS). Sordillo joined the company as Loss Control Leader for ... Read the full article
5th March 2018
Sompo International has revealed plans to launch a new European specialty insurance underwriting operation with an initial focus on management liability, professional indemnity and financial institutions lines. Executive Vice President (EVP), Thomas Mannsdorfer is set to head up the new entity which will partner with brokers across Continental Europe together with ... Read the full article
