Sompo consolidates London operation into one platform
Sompo International Holdings will consolidate its London presence into one company market platform.
From January 2021 Sompo will no longer write business from Endurance at Lloyd’s or Syndicate 5151. All renewals and new business will be written from Endurance Worldwide Insurance.
John Charman, executive chairman of Sompo International’s board of directors and CEO of overseas re/insurance business at Sompo Holdings, said: “Having one single platform will allow us to continue to profitably grow our business and deliver superior value and solutions to our clients and distribution partners. With Sompo International’s rating equivalent to Lloyd’s, we can utilise that rating and our existing operation to be an even more streamlined and efficient provider of risk solutions whilst maintaining a meaningful and diversified trading relationship with Lloyd’s in the years to come.”
Julian James, Sompo International’s CEO of international insurance, said the group’s ambition is to grow its London market and European business significantly in the near term. “Sompo International is now recognised by our brokers and clients as a global leader with significant capability and excellent talent. With one platform, we will be able to provide them with efficient access to the very best products and services, underpinned by highly rated security,” he said.
