Bermuda-based specialty insurer and reinsurer Sompo International Holdings Ltd. said that the integration of Sompo Japan Nipponkoa Insurance Company of Europe Limited (SJNKE) into Sompo International reached a significant milestone on May 1, 2018 as SJNKE became a wholly-owned subsidiary of Sompo International.
Sompo International previously announced that its new subsidiary, SI Insurance (Europe), SA (SIIE), received regulatory approval from Luxembourg on March 27, 2018. SIIE is expanding beyond its headquarters in Luxembourg to include operations in Belgium, France, Germany, Italy and Spain, subject to required regulatory approvals.
Once SIIE becomes operational later in 2018, SJNKE’s Continental European business will transfer to SIIE. Sompo International said it will maintain its presence in the Lloyd’s market with Endurance at Lloyd’s and the London company market with Endurance Worldwide Insurance Limited.
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