Reinsurance News
Sompo
Sompo Intl. hires Zurich’s Shea to succeed retiring Charman
25th May 2021
Sompo International Holdings has appointed James Shea as Executive Chairman of the Board of Directors and he will also become Chief Executive Officer (CEO) of Overseas Insurance and Reinsurance Business for Sompo, succeeding John Charman who has been with the company for eight years. Shea’s appointments will take place in September, ... Read the full article
Sompo International enters partnership with UK insurtech Flock
27th January 2021
Specialty property and casualty re/insurer Sompo International has entered into a long-term partnership with Flock, a UK insurtech that provides data-driven insurance solutions to commercial drone operators. This partnership has been established to support the future of aviation by increasing the availability of insurance needed for emerging use-cases, like drone cargo ... Read the full article
Sompo acquires aviation insurer W. Brown
23rd December 2020
Bermuda-based P&C re/insurer Sompo International has acquired W. Brown & Associates Insurance Services (W. Brown), a general aviation insurer. W. Brown has been a managing general underwriter (MGU) for Sompo International (SI) since 2016. Following the acquisition, the W. Brown operations will remain intact and it will become a wholly owned subsidiary ... Read the full article
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
Sompo GRS launches product built for life sciences industry
7th February 2020
Sompo Global Risk Solutions, a subsidiary of Bermuda-based specialty property and casualty re/insurer Sompo International, has introduced a state-of-the-art products-completed operations and errors and omission liability protection product built for the life sciences industry. Sompo Life Science Plus offers coverage for various life science products, including products used in human clinical ... Read the full article
Sompo releases travel insurance product in Thailand with Slice Labs
17th January 2020
Sompo Holdings (Asia), part of international insurer Sompo Holdings, has partnered with Slice Labs, an on-demand insurance platform, to release a joint travel insurance product in Thailand called TravelJoy. The product will include life and medical, flight delay/cancellation, and baggage/belongings coverage, and will be made available using the LINE LIFF Platform. “SOMPO’s ... Read the full article
Trov looks to Asia with Sompo partnership
12th December 2019
Insurance technology firm Trov has entered into a new partnership with Sompo Holdings to launch Mobility Solutions, designed to expand the firm's mobility footprint to Asia. The new Powered by Trov collaboration combines the tech firm's Mobility Insurance Platform with Sompo Holdings' broad and deep market knowledge and operations, with a ... Read the full article
Sompo International names new CEO amid restructure
19th November 2019
Sompo Holdings is to transfer all overseas group companies under Sompo International Holdings by 2020 and will appoint Mikio Okumura to oversee the strategy’s execution as Chief Executive Officer. This move is designed to establish a more integrated global platform and expand overseas business. Once this integration is completed, Sompo Holdings says ... Read the full article
Sompo International profits hit by large losses in H1
19th November 2019
Bermuda-based property and casualty re/insurer, Sompo International, increased its profits only marginally during the first half of the 2019 fiscal year, due to the impact of large losses on the business. The company, which represents part of the overseas operations of Japanese re/insurer Sompo Holdings, posted a profit of US $190 ... Read the full article
Combined, Typhoon Faxai to cost Sompo, MS&AD at least $2 billion
19th September 2019
Typhoon Faxai, which struck Japan on September 9th, will cost Japanese insurers MS&AD Insurance Group Holdings, Inc. and Sompo Japan Nipponkoa Insurance Inc. a combined USD 2 billion, at least. Typhoon Faxai hit Japan on September 9th, impacting the Tokyo area with some of the most severe damage seen in the ... Read the full article
Sompo GRS & WTW launch platform for middle market commercial real estate
13th September 2019
Sompo Global Risk Solutions (GRS), a division of Bermuda domiciled P&C re/insurer Sompo International Holdings Ltd., has entered into a strategic partnership with Willis Towers Watson to develop an integrated insurance platform which targets the middle market commercial real estate sector. The Willis Towers Watson Retail, Office and Industrial (ROI) platform ... Read the full article
Sompo to utilise Slice platform to deploy digital insurance products
15th August 2019
Sompo Holdings Asia, part of the Japanese insurance and reinsurance company, has entered into a proof-of-value contract with cloud-based insurtech Slice Labs in a move designed to bring on-demand insurance to the Asia Pacific region. As per the agreement, Sompo is to license the Slice Insurance Cloud Services (ICS) platform to ... Read the full article
Sompo GRS expands with new Small Business team
9th August 2019
Bermuda property and casualty (P&C) insurer and reinsurer, Sompo International Holdings Ltd., has announced that Sompo Global Risks Solutions (GRS) has expanded with a new team offering solutions to smaller businesses in the U.S. and Mexico, including the firm's industry vertical and Asian interest accounts. The newly created Sompo GRS Small ... Read the full article
Sompo Global Risk partners with VGM to insure golf courses, country clubs
30th July 2019
Sompo Global Risk Solutions (GRS), a subsidiary of Bermuda-based specialty property and casualty (P&C) re/insurer Sompo International, has entered into a new partnership with specialist captive insurer VGM Insurance & Financial Solutions. The arrangement will allow Sompo GRS to offer its insurance products and services to golf courses and country clubs. Through ... Read the full article
Sompo partners with Sanlam Kenya to expand presence in Africa
22nd July 2019
Sompo Holdings, the Japanese insurance and reinsurance company, has entered into a new partnership with financial services group Sanlam Kenya to expand its influence and investments in Africa. This is according to reports from Capital Business, who said that Sompo will specifically be targeting East Africa, where Kenya is attracting substantial ... Read the full article
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