Sompo completes integration of business
Bermudian-based Sompo International Holdings Ltd has completed the full transfer of Sompo America's business operations and staff into the Sompo International Insurance platform.
Commercial property, casualty and speciality products for Japanese Interest Accounts will be managed by the Sompo Global Risk Solutions platform, under the oversight of Michael Chang, chief executive officer of Sompo Global Risk Solutions.
Jack Kuhn, CEO of Global Insurance, said: “The integration and alignment of Sompo America marks a significant step towards the creation of a truly integrated global insurance platform.
“The combined organisation has the backing of Sompo's strong balance sheet, while providing additional flexibility with respect to broad licensing, greater on-the-ground resources and a larger regional footprint in the US. I am extremely pleased that we are now able to offer additional products and services to our clients and trading partners.”
Meanwhile, the transfer of Sompo Japan Nipponkoa Insurance Company of Europe Limited and their integration with SIH is planned for the second quarter of this year.