Sompo secures approval to consolidate its UK footprint

Bermuda re/insurer Sompo International has secured regulatory approval from the UK Prudential Regulation Authority to complete the transfer of its Endurance at Lloyd’s (EAL) run-off business to RiverStone Holdings.

The move executes its strategic objective of consolidating its UK presence into one company market platform.

Julian James, CEO, Global Markets, Commercial P&C, said: “I’m pleased that the transition of our EAL portfolio to RiverStone could be completed in a thoughtful and timely manner. Throughout the process our teams worked together with RiverStone to ensure a seamless and secure transition, keeping customer service at the forefront.

“We remain committed to the London market and the collaborative work underway to modernise, remain relevant and best support the increasingly complex needs of clients here and around the world.”