Reinsurance News

Sompo International

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

Sompo International develops weather risk products for real estate and hospitality

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

Sompo rolls out Transaction Risk insurance across Europe

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

Sompo International completes acquisition of Lexon Surety Group

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

Sompo International integrates SJNKE in preparation for Brexit

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

S&P upgrades Sompo International’s core operating subsidiaries to A+

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

Sompo International’s John Kuhn takes on additional CUO, P&C responsibilities

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

Sompo International gains approval for post-Brexit European P&C subsidiary

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

Sompo GRS offers U.S umbrella product to HUB risk purchasing group

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

Sompo International launches retail platform to facilitate global integration

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

Sompo International hires Cove from Qatar Re to lead aviation reinsurance

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

Sompo appoints VP’s for U.S Insurance Business Development

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