Sompo International reshuffles commercial P&C business
Specialty property and casualty re/insurance provider Sompo International Holdings has named Michael Chang, Graham Evans and Christopher Sparro as co-heads of the company’s commercial property and casualty (P&C) insurance business.
The three replace John (Jack) Kuhn, CEO and CUO of commercial P&C, who has stepped down from his role.
Chang and Sparro both joined Sompo International in New York in 2016 as the CEOs of global risk solutions and North American insurance, respectively. Evans joined in 2013 as the CEO of the European insurance business and is based in London.
The three report to Christopher Gallagher, CEO of commercial P&C, a business which represented nearly $4 billion in annual gross written premiums for the company at the close of 2018.
Gallagher said: “This restructuring clearly demonstrates the continuing transformation of Sompo International’s commercial P&C insurance business,” predicting commercial P&C will increase its contribution to the group’s overall results.
Nigel Frudd, CEO of Sompo International Holdings noted the industry is at a critical point in its development, amid consolidation among providers and pricing gaining favorable momentum.
“Sompo International has the leadership, resources and capabilities to take advantage of these opportunities and are committed to achieving significant growth organically, strategically by M&A and through global partnerships,” he added.
