Sompo International creates new US property unit
Bermuda-based Sompo International has announced that its US insurance business has launched a new middle market property insurance product, offering ground up single carrier coverage to US mid-size companies across a broad range of industries through its retail broker network.
The new team will be built and led by Patrick Mulhall, who joined Sompo International on May 8. It also includes James Berringer. Both Mulhall and Berringer are senior vice presidents, reporting to Sompo International executive vice president of US commercial property, Mark Maritzen. They are located in Sompo International’s New York and Chicago offices respectively.
“The addition of a middle market property product is a natural complement to our US Commercial Property book which focuses on large multi-national accounts across industries, including but not limited to manufacturing, warehousing and distribution, healthcare, education and transportation,” said Maritzen. “With over 30 years each in the property market, Pat and Jim bring extensive underwriting experience and have developed longstanding relationships with key retail brokers. They are a welcome addition as we build out this new team with presence in key markets across the US.”
Mulhall spent the past 15 years with Axis Capital, most recently as executive vice president in the risk management property Unit. Prior to that, Mulhall held various underwriting and management roles at companies including Liberty Mutual, CNA and St. Paul Fire and Marine.
Berringer was most recently at Axis Capital where he was senior vice president since 2003, having played a key role in starting their US property unit. Prior to Axis, Berringer held various underwriting and management roles within CNA’s risk management property unit.
“We are excited to integrate the new team into our US. Insurance platform as we continue to broaden our offerings and provide value added services to our clients,” commented Christopher Sparro, CEO of US Insurance. “This new middle market product further complements Sompo International’s extensive property capabilities across geographies, risk size and exposures, and distribution channels, offering not only responsive underwriting and claims service, but also in-house loss control engineering services.”
