Sompo International completes Sompo America integration
Sompo International Holdings (SIH) has completed the complete transfer of the Sompo America companies to SIH and the full integration of Sompo America’s business operations and staff into the Sompo International Insurance platform.
The company said that commercial property, casualty and specialty products for Japanese interest accounts (JIA) will be managed by the Sompo global risk solutions platform, under the oversight of Michael Chang, chief executive officer of Sompo global risk solutions. Lisa Davis, executive vice president, president of US JIA Business, will continue to lead the JIA customer segment reporting to Chang. Locally sourced and written non-Japanese accounts and certain specialty lines of business currently written by Sompo America will be integrated into the company’s US insurance operation, led by Chris Sparro, chief executive officer of US Insurance.
The company said that Sompo America’s clients will benefit from the company’s multi-line underwriting capabilities. The combined companies will continue to provide their clients and producer partners with deep underwriting expertise at the point of sale, innovative solutions, and superior service based on a white glove service philosophy.
“The integration and alignment of Sompo America marks a significant step toward the creation of a truly integrated global insurance platform,” said Jack Kuhn, chief executive officer of global insurance. “The combined organisation has the backing of Sompo’s strong balance sheet, while providing additional flexibility with respect to broad licensing, greater on-the-ground resources and a larger regional footprint in the US I am extremely pleased that we are now able to offer additional products and services to our clients and trading partners.”
The transfer of Sompo Japan Nipponkoa Insurance Company of Europe and its integration with SIH is planned for the second quarter of 2018.