Sompo appoints new CUO for global commercial P&C

Sompo has appointed Richard Allen as chief underwriting officer (CUO) for its Global Markets Commercial P&C insurance business. He is based in the London office and will continue to report to Julian James, chief executive global markets, Sompo.

Allen was previously EVP, commercial P&C insurance and professional lines product leader, global markets. He takes over from Cliff Easton, who has decided to retire and will serve in an advisory capacity.

The company said that in his new role, Allen will work closely with the commercial P&C insurance chief underwriting officers across the UK, Continental Europe, Asia Pacific, Turkey and Brazil while ensuring congruence with Sompo’s overall underwriting strategy. He will also have oversight of underwriting governance and risk controls and set underwriting policy for Global Markets’ commercial P&C insurance business. 

“Rick’s appointment is an example of Sompo’s leadership bench strength and our desire to promote talent from within,” said James. “He has been with the company for nearly a decade in different product and management roles, giving him a keen view of our business. An exceptional leader with more than 25 years of industry experience, Rick brings underwriting expertise, discipline and technical skills to this pivotal role.”

He added, “I would also like to take this opportunity to thank Cliff for his many contributions, not only as CUO for these past four years, but for being a tremendous business partner and leader. With a career that spans 50 years, he joined the company in 2014 to establish a London market underwriting presence and he has been instrumental in shaping our business into what it is today.”

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