Reinsurance News
10th October 2018
Bermudian property and casualty re/insurer Sompo International has announced the launch of a new Casualty Facultative Reinsurance operation, to be led by Dave Adams, who has been appointed as Executive Vice President, Specialty/Facultative Reinsurance Team Leader. Adams will join Sompo International Reinsurance this week alongside an underwriting team of seven specialists ... Read the full article
9th October 2018
Bermuda-based specialty re/insurer Sompo International Holdings has established a new business unit, extending its environmental liability insurance capabilities to a wider range of industries in the U.S. The company states it will offer tailored mono-line environmental liability coverage programs, on a primary or excess basis, for insureds interested in expanding their ... Read the full article
2nd October 2018
Bermudian property and casualty re/insurer Sompo International has launched a Global Risk Control Services function within its insurance business under the leadership of Senior Vice President, Risk Control, Victor Sordillo. The team will work with the company’s insureds to deliver advanced risk management programs as well as more traditional loss control tools. Leveraging ... Read the full article
6th September 2018
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 ... Read the full article
4th September 2018
Bermuda-based specialty re/insurer Sompo International Holdings has announced the launch of SI Insurance (Europe), a property and casualty (P&C) subsidiary expected to bolster post-Brexit strategic growth throughout continental Europe. Headquartered in Luxembourg - with offices in Belgium, France, Germany, Italy, Spain and the UK - SI Insurance (Europe) will issue insurance ... Read the full article
15th August 2018
Bermudian property and casualty (P&C) re/insurer Sompo International Holdings Ltd. has appointed Richard DePiero as Senior Vice President, U.S Cyber Product Leader for Sompo Pro, the company’s U.S professional liability insurance unit. DePiero joins Sompo from Swiss Re Corporate Solutions, where he served as Senior Vice President, Head of Cyber & ... Read the full article
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
