1 July 2019Life

Sompo creates global transactions group

Sompo Holdings has created a global transactions group (GTG) to take overall responsibility for all M&A, intercompany transactions and joint ventures globally.

GTG comprises senior professionals who are responsible for both insurance and non-insurance transactions, such as insurtech and healthcare services companies, in over 30 countries. It includes a global specialist legal and tax function.

The new group is headed by Nigel Frudd, senior executive vice president and chairman of overseas M&A at Sompo Holdings and CEO of Sompo International, its Bermuda-based specialty provider of property and casualty insurance and reinsurance.

Frudd said: “This Group will provide agile coordination internally and externally in order to more efficiently manage relationships with our investment bankers, lawyers, accountants, actuaries and other professional advisors. A key component of Sompo’s strategy is to expand our worldwide footprint both in the insurance world and also in the healthcare services arena, which Sompo is pioneering in Japan.”

Mikio Okumura, group chief strategy officer and executive vice president at Sompo Holdings, will coordinate domestic Japan transactions.  He said GLG will “enhance quick and agile decision making on transactions, as well as giving Sompo a more informed approach to transaction strategy and execution by sharing our expertise worldwide.”