Sompo launches new professional lines platform
Sompo International Holdings is launching SomPro, a global financial and professional lines platform encompassing insurance and reinsurance capabilities.
According to the company SomPro will deliver market leading underwriting, risk management and claims services by sharing the company’s extensive product expertise and distribution relationships across Sompo’s specialty teams. SomPro will offer more than 30 different financial and professional lines insurance products as well as a suite of related reinsurance products, with broad licensing coverage through its company platforms and its Lloyds’ syndicate.
SomPro will be comprised of more than 100 dedicated underwriting and claims professionals operating in key insurance markets across the globe including the US, Bermuda, UK, Europe and Asia. SomPro will be governed by a steering group comprised of senior professional lines leadership and chaired by Chris Donelan, head of global casualty reinsurance and president & chief underwriting officer of North America Reinsurance.
“The financial and professional lines market is an area where Sompo International has achieved significant scale and worldwide relevance,” said John Charman, chief executive officer (CEO) and chairman of Sompo International. “SomPro unites our broad capabilities around the globe, including those of our Japanese parent, Sompo Holdings, as we continue to focus on delivering superior service to our clients. Building on AgriSompo, our global integrated agriculture platform launched last year, and now SomPro, we will continue to create additional platforms where our specialty resources are key differentiators to our clients and trading partners.”
John Kuhn, CEO of Global Insurance and chief underwriting officer for Sompo International added, “The creation of SomPro reflects Sompo’s commitment to this market and the depth of capabilities that we currently offer. Chris and our senior leaders bring a long-term perspective on the financial and professional lines space based on decades of experience in this important market. We recently added a professional lines team in Continental Europe and have introduced several new transactional risk products. We will continue to substantially enhance our products, quality underwriting approach and related services to address the evolving global risks and issues impacting our clients.”
