Reinsurance News
Sompo International
Sompo International’s Italian agriculture unit transitions to insurance agency
14th February 2019
Sompo International Holdings, the Bermuda-based specialty provider of property and casualty insurance and reinsurance, has announced that its wholly owned subsidiary, A&A S.r.l, is now able to operate as a multi-mandate insurance agency. A&A, which was acquired by Sompo in March 2018, has operated as a broker in the Italian agriculture ... Read the full article
Sompo International adds Christopher Gallagher as Exec Director
6th February 2019
Bermuda-based property and casualty re/insurer Sompo International Holdings (SIH) has appointed Christopher Gallagher to the Board of Directors as an Executive Director. Gallagher currently serves as Chief Risk Officer and Group Actuary of Sompo’s Commercial Property and Casualty business. Prior to joining Sompo in 2015 Gallagher worked as an Actuary for AXIS ... Read the full article
Sompo and Germany’s SV launch parametric agriculture solution
31st January 2019
Bermuda-based property and casualty insurer and reinsurer, Sompo International Holdings Ltd., has announced the introduction of a new innovative agriculture insurance product for the German market, in partnership with German insurer SV SparkassenVersicherung (SV). The new solution, called SV ErnteIndex, has been tailored to the agricultural sector and offers parametric protection against crop ... Read the full article
Brokers key to future weather risk market growth: Malinow, Sompo Global Weather
30th January 2019
The weather risk market continues to expand and remains competitive for a sector with few experienced dealers, but for future growth potential to be realised, brokers have a key role to play, according to Martin Malinow, President of Sompo Global Weather, a division of Sompo International Holdings Ltd. Reinsurance News recently ... Read the full article
Charman promoted to CEO of Overseas Insurance for Sompo Holdings
18th December 2018
Bermuda-based specialty re/insurer Sompo International Holdings has announced the promotion of John Charman, currently Chairman of the Board of Directors and Chief Executive Officer of Sompo International, to CEO of Overseas Insurance Business in Sompo Holdings. The appointment, effective 1 April 2019, will see Charman oversee a segment that represents more ... Read the full article
Sompo International expands U.S cyber insurance capabilities
11th December 2018
Bermudian property and casualty re/insurer Sompo International Holdings has announced an expansion of its cyber insurance capabilities with the introduction of a U.S team focused on cyber offerings, an enhanced cyber and professional liability product, and an expanded suite of cyber risk management services. The new U.S-based underwriting team will be ... Read the full article
Sompo to partner with German insurer SV on agricultural solutions
6th December 2018
Bermuda-based specialty re/insurer Sompo International Holdings and German insurer SV SparkassenVersicherung have entered into a partnership that will see the introduction of new insurance solutions to the agriculture sector. Building on a business relationship which stretches back to 2006, the partnership will leverage Sompo’s global ‘AgriSompo’ platform, which delivers a common ... Read the full article
Sompo International announces global partnership with CropTalk
2nd November 2018
Sompo International Holdings Ltd. has announced that it has entered into a strategic partnership with CropTrak™, a provider of technology solutions for the food and agriculture markets. The new partnership is an extension of the 2016 agreement, which resulted in a partnership between CropTrak and ARMtech Insurance Services, a wholly-owned subsidiary of ... Read the full article
Sompo International forms new Casualty Facultative Reinsurance team
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
Sompo expands U.S environmental insurance capabilities
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
Sompo International announces launch of Global Risk Control Services
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
Sompo launches global financial and professional lines platform SomPro
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
Sompo introduces new P&C subsidiary for continental Europe
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
Sompo International hires Swiss Re’s Richard DePiero as U.S Cyber Product Leader
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
Sompo International’s Lexon and Bond Safeguard subsidiaries upgraded
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