New head of financial institutions at Sompo

Bermuda-headquartered Sompo International Holdings has promoted Kimberly Iacocca to senior vice president and head of financial institutions (FI) for its US financial lines business.

Iacocca has been with Sompo for eight years, joining when it first launched its financial institutions underwriting unit. Most recently, she was vice president for financial institutions. She is also on the Sompo International Inclusive Diversity Council and a board member for The Bridge, a nonprofit organisation whose mission is to build an inclusive network among financial lines professionals.

In her new role, Iacocca will oversee the underwriting, distribution and management of the US financial institutions team.

Ray Santiago, EVP and head of US financial lines, said: “Kim’s underwriting acumen, market relationships and history with the Sompo International FI team make her a terrific choice to lead this team of dedicated individuals. She has helped to drive the unit’s significant portfolio growth over the past two years, and we are excited by the opportunities that lie ahead for the US FI business unit. I’m looking forward to working closely with Kim as we continue to expand our portfolio and deepen our relationships in the financial institutions insurance market.”

Christopher Sparro, CEO of US insurance at Sompo International, added: “Kim has a proven track record of delivering strong, profitable results for our FI team. Her leadership, knowledge of the business, and clear understanding of our goals provide continuity, builds upon the success achieved over the past two years and positions us for future growth in the financial institutions marketplace moving forward.”