Sompo makes crop insurance move in Portugal
Crop insurance solutions are now being offered by Bermudian-based Sompo International Holdings Limited to the agricultural sector in Portugal.
This is the result of the re/insurer's global agriculture platform, AgriSompo, entering into a partnership with Portuguese managing general agent Atlas Segurmina.
Atlas has crop insurance expertise and strong ties to the Portuguese and European Union crop market. AgriSompo will partner with Atlas to initially offer a variety of traditional crop insurance products and will expand into new products and coverages to help address the evolving needs of farming operations in Portugal.
Kris Lynn, chairman, AgriSompo and senior vice-president, Global Agriculture, Sompo International, said: “In addition to increasing AgriSompo's presence in key agriculture markets worldwide, this new partnership will enable us to introduce innovative agriculture products and technologies tailored to this region. By combining Sompo International's experience developing leading-edge crop insurance products with Atlas' strong network and reputation in the Portuguese crop market, we will deliver meaningful solutions that address the evolving insurance needs of these clients.”