Sompo launches Luxembourg subsidiary

Make text smaller Make text larger

  • European focus: John Charman, chairman of Sompo International

    European focus: John Charman, chairman of Sompo International


Sompo International Holdings Ltd has launched its new Luxembourg-based subsidiary SI Insurance (Europe), activating its post-Brexit plan well ahead of Britain’s departure from the European Union next year.

Sompo International, which is based at offices in Waterloo House on Pitts Bay Road, said SI Insurance (Europe) has branches in Belgium, France, Germany, Italy, Spain and the UK.

Sompo International will maintain its presence in the Lloyd’s market, its London-based underwriting platform and its Zurich reinsurance operation.

SI Insurance (Europe) will issue insurance policies and reinsurance treaties for new and renewal business in continental Europe. European Economic Area policy issuance for multinational insurance clients will continue to be serviced from London via the UK branch of SI Insurance (Europe), the company stated.

Earlier this year, the company introduced a European specialty business to partner with brokers across continental Europe, initially offering a suite of professional liability and transaction risk insurance products.

Sompo International is a wholly owned subsidiary of Japanese insurance giant Sompo Holdings.

John Charman, chairman and chief executive officer of Sompo International, said: “It is critical that we have an established local presence in key continental European markets as we introduce additional underwriting teams and innovative products to this region.”

Graham Evans, CEO of London Market and Europe Insurance for Sompo International, said: “I am delighted to announce this exciting milestone which provides clear and timely definition of our post-Brexit capabilities for clients around the world.”

Takashi Kurumisawa, CEO of SI Insurance (Europe), said: “Our clients and brokers across continental Europe are reacting very positively to Sompo International’s commitment to the European market. With SI Insurance (Europe) beginning to operate well ahead of Brexit, we have a long-term solution in place to deliver consistently high quality service and uninterrupted capacity for clients across the European Economic Area.”

You must be registered or signed-in to post comment or to vote.

Published Sep 4, 2018 at 8:00 am (Updated Sep 3, 2018 at 7:11 pm)

Sompo launches Luxembourg subsidiary

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "What are your views on stop-and-search in today's Bermuda?"
    • Inconvenient but necessary
    • 69%
    • Wholly unproductive
    • 10%
    • Unfair targeting of young black males
    • 21%
    • Total Votes: 4697
    • Poll Archive

    Today's Obituaries

    eMoo Posts