Sompo sells Endurance at Lloyd’s to RiverStone
Sompo International has announced the sale of its Endurance at Lloyd’s run-off business to RiverStone Holdings, effectively completing the company’s previously communicated objective to consolidate its UK presence into one company market platform.
Julian James, chief executive officer of Global Markets, Commercial P&C at Sompo, said: “Since executing on our strategic decision in 2020 to consolidate our UK presence into one company market platform we have taken a measured and controlled approach to withdrawing from Lloyd’s to ensure minimal disruption to our brokers and clients. We’re pleased to enter this agreement with RiverStone International and are committed to making this transition as seamless as possible for our brokers and clients.”
He added: “We look forward to having a constructive collaboration with Lloyd’s for the benefit of the London market and beyond.”
Sompo International is a Bermuda-based holding company, together with its consolidated subsidiaries. Through its operating subsidiaries, Sompo is a global provider of commercial and consumer property and casualty re/insurance. It has entities in over 29 countries and more than $36 billion in gross written premiums.
