Sompo International Holdings’ integration of Sompo Japan Nipponkoa Insurance Company of Europe into Sompo International has reached what it described as a significant milestone as SJNKE became a wholly-owned subsidiary of Sompo International on May 1, 2018.
Sompo International previously announced that its new subsidiary, SI Insurance (Europe), (SIIE), received regulatory approval from the Ministry of Finance of Luxembourg on March 27, 2018.
SIIE is now to expand beyond its headquarters in Luxembourg to include operations in Belgium, France, Germany, Italy and Spain, subject to required regulatory approvals.
According to the company once SIIE becomes operational later in 2018, SJNKE’s Continental European business will transfer to SIIE. Sompo International will maintain its presence in the Lloyd’s market with Endurance at Lloyd’s and the London company market with Endurance Worldwide Insurance.
Simnpo International, Nipponkoa, integration, Europe