Reinsurance News
Sompo International
Sompo International to acquire Diversified Crop Insurance Services
4th September 2020
Bermuda-based specialty property and casualty re/insurance Sompo International is set to acquire Diversified Crop Insurance Services, a subsidiary of CGB Enterprises. Diversified will join the re/insurer's AgriSompo platform and will create one of the largest crop insurance providers in North America. The acquisition provides Sompo with additional capabilities in North America in ... Read the full article
New partnership sees Sompo’s agriculture platform expand into French crop market
3rd September 2020
Bermuda-based specialty property and casualty re/insurer Sompo International Holdings has announced that its global agriculture platform AgriSompo has entered into a strategic broking relationship with InVivo Group. InVivo Group is a national union of 201 member cooperatives representing more than half of all farmers in France. Working through InVivo's Bioline Insurance subsidiary, this ... Read the full article
Brendan Plessis takes distribution role at Sompo International
2nd September 2020
Sompo International Holdings Ltd., the Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed Brendan Plessis as Executive Vice President, Distribution, International Insurance. In this newly created role, Plessis will lead the strategic development of broker and client relationships. In particular, he will focus on maximizing profitable growth and ... Read the full article
Sompo, Marsh & McLennan launch new solution for commercial real estate owners
18th August 2020
Bermuda-based specialty P&C reinsurer Sompo International has partnered with Marsh & McLennan Agency and its Global Risk Solutions unit on the launch of a new customisable insurance solution designed for commercial real estate owners. The MMA Select Commercial Insurance Program has been created to deliver industry-specific underwriting, claims, and risk control expertise ... Read the full article
Sompo International names Head of Cyber for London Market
12th August 2020
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed Lauren Folkard as Vice President and Head of Cyber for the London Market. Folkard most recently served as a cyber class underwriter at Barbican, before which she was part of the cyber management team ... Read the full article
Nat cats & investment volatility weigh on Sompo International profits
10th August 2020
Sompo International has posted a net loss of $146 million for the first quarter of the financial year, mainly due to large natural catastrophe losses, lower investment income, and yen appreciation. The company’s adjusted profit slumped to $49 million in Q1, compared with $82 million over the same period last year. However, ... Read the full article
Sompo International hires two in Global Risk Solutions
5th August 2020
Re/insurer Sompo International Holdings has announced two appointments to its Global Risk Solutions (GRS) team. Hiral N. Shah has joined the company as Senior Vice President and Environmental Leader for Sompo GRS and succeeds Mr. Pillion who has been appointed to the role of Head of GRS Global Distribution Management. Shah will ... Read the full article
James McDonald to lead Sompo International’s energy team in London
31st July 2020
Sompo International Holdings Ltd., the Bermuda-based specialty provider of property and casualty insurance and reinsurance, has announced the appointment of James McDonald as its new Head of London Market Energy. McDonald has more than 30 years of experience across both the broking and underwriting sectors. He joins Sompo International from Talbot and ... Read the full article
Sompo Intl adds Warren Diogo, Sam Bishop to Energy Business unit
21st July 2020
Specialty re/insurer Sompo International has bolstered its Energy Business Unit in London with the appointment of Warren Diogo as leader of the Renewable Energy team and Sam Bishop as Assistant Vice President, Renewable Energy Underwriter. Diogo has two decades of experience in the insurance industry as a risk manager, consultant and ... Read the full article
Sompo GRS launches new European team
1st July 2020
Sompo Global Risk Solutions (GRS), a specialty property and casualty re/insurer and part of Sompo International, has formed a new London-based team designed to serve the European market through retail brokers. Sompo GRS Europe builds on Sompo International’s existing London Market and SIIE European platform business. The move is also intended to ... Read the full article
Sompo International expands partnership with Clearwater
11th June 2020
Specialty P&C re/insurer Sompo International has expanded its partnership with Clearwater to include consolidated book of record accounting for additional international entities in more than six countries. Clearwater provides automated investment data aggregation, reconciliation, and validation to Sompo International. Clearwater’s multi-currency and multi-asset class investment accounting provides customized general ledger entries for ... Read the full article
Sompo Int. names lead of new US Insurance Environmental unit
5th June 2020
Bermuda-based property and casualty insurer and reinsurer, Sompo International Holdings Ltd., has launched a new U.S. Insurance Environmental unit with expanded capabilities. The new division offers new products and services that Sompo says will augment its existing capabilities available through its Sompo Global Risk Solutions arm, for the U.S. Insurance Environmental ... Read the full article
Sompo Intl GRS launches unit focused on tech industry
2nd June 2020
Bermuda-based specialty P&C re/insurer Sompo International Global Risk Solutions has formed a new team that will offer products to clients in the technology industry. The new unit, part of Sompo GRS, will work through a network of retail brokers to offer primary casualty products (general liability, commercial auto, worker’s compensation), as ... Read the full article
Sompo International profits surge on specialty growth
21st May 2020
Bermuda-based property and casualty re/insurer, Sompo International, saw its profits surge 81% to $320 million for the full-year 2019, mainly due to top line growth centred on specialty insurance. The figure was up by $142 million on the adjusted profit of $177 million posted by the company in 2018. Notably, Sompo International ... Read the full article
Sompo International announces agricultural insurance partnership
23rd April 2020
Specialty property and casualty re/insurer Sompo International Holdings’ global agricultural platform has entered into a partnership to offer crop insurance solutions to the agricultural sector in Portugal. The partnership between AgriSompo and Portuguese Managing General Agent ATLAS Segurmina will result in the offering of a variety of traditional crop insurance products ... Read the full article
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