Sompo International secures primary insurance licence in France

Bermuda-based holding company Sompo International has been granted a licence to write primary insurance in France.

Sompo International has secured the authorisation from the French Prudential Supervision and Resolution Authority (ACPR), further extending the company’s commercial P&C insurance capabilities and product offerings in Continental Europe.
Ralph Brand, Sompo International’s president, Continental Europe Insurance, said: “The granting of the French primary insurance license not only supports the company’s strategic expansion but further strengthens our position in Continental Europe.”

Brand added: “Buyers in France are increasingly looking for carriers with a local presence who can offer the capital, risk appetite and risk management capabilities they need to address the challenges they face. Our expertise across a range of insurance lines, coupled with our financial strength, make us an attractive business partner.”