Sompo International acquires aviation insurer
Bermudian-based Sompo International Holdings Ltd has acquired aviation insurer W. Brown & Associates Insurance Services.
W. Brown has been a managing general underwriter for Sompo International since 2016. In a statement, Sompo said the W. Brown operations would remain intact, leveraging the MGU’s management and underwriting expertise, distribution platform and service capabilities.
“Sompo International said: ”This acquisition takes Sompo International’s long-term relationship with W. Brown to the next level as it will become a wholly owned subsidiary of SI and further exemplifies a shared commitment to serve the general aviation market.
“The acquisition also complements the broader suite of SI’s aviation insurance and reinsurance products, a rapidly growing segment for the organisation that aligns with its long-term growth strategy.”
Chris Sparro, chief executive officer, US Insurance, Sompo International, said: “We are delighted to formally welcome Scott Brown and his team of loyal, dedicated employees into the Sompo International U Insurance platform.
“This acquisition displays our dedication to the long-term general aviation market and reinforces Sompo International’s commitment to building a portfolio of industry leading, diversified and profitable products.”
Scott Brown, principal, W. Brown & Associates, said: “We are thrilled to combine the financial strength and reputation of Sompo International with our commitment to service for our customers as W. Brown has done for over three decades.
“We look forward to being a part of an organisation that we know and trust and where we can leverage additional resources, technology, capabilities and capital to help support and advance our efforts on behalf of our valued clients.”