Sompo transfers run-off business to RiverStone
Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance, has completed the transfer of its Endurance at Lloyd’s run-off business to RiverStone Holdings Limited.
The announcement follows regulatory approval from the UK Prudential Regulation Authority.
Sompo said the transfer delivers on its previously communicated strategic objective to consolidate its UK presence into one company market platform.
Julian James, CEO, global markets, commercial P&C, said: “I’m pleased that the transition of our EAL portfolio to RiverStone could be completed in a thoughtful and timely manner.
“Throughout the process our teams worked together with RiverStone to ensure a seamless and secure transition, keeping customer service at the forefront.
“We remain committed to the London market and the collaborative work under way to modernise, remain relevant and best support the increasingly complex needs of clients here and around the world.”