Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced that the company is launching SomPro, a global financial and professional lines platform encompassing insurance and reinsurance capabilities.
SomPro said it aims to deliver market-leading underwriting, risk management and claims services by sharing the company’s product expertise and distribution relationships across Sompo’s specialty teams.
The platform will offer more than 30 different financial and professional lines insurance products as well as a suite of reinsurance products, with broad licensing coverage through its company platforms and its Lloyds’ syndicate, Sompo said.
SomPro will comprise more than 100 dedicated underwriting and claims professionals operating in key insurance markets across the globe, including the U.S., Bermuda, UK, Europe and Asia.
SomPro will be governed by a steering group of senior professional lines leadership and it will be chaired by Chris Donelan, head of Global Casualty Reinsurance and president & chief underwriting officer of North America Reinsurance.
“The financial and professional lines market is an area where Sompo International has achieved significant scale and worldwide relevance,” commented John Charman, CEO and chairman of Sompo International.
“SomPro unites our broad capabilities around the globe, including those of our Japanese parent, Sompo Holdings, Inc., as we continue to focus on delivering superior service to our clients,” he added. “Building on AgriSompo, our global integrated agriculture platform launched last year, and now SomPro, we will continue to create additional platforms where our specialty resources are key differentiators to our clients and trading partners.”
“The creation of SomPro reflects Sompo’s commitment to this market and the depth of capabilities that we currently offer,” noted John (Jack) Kuhn, CEO of Global Insurance and chief underwriting officer for Sompo International.
“Chris and our senior leaders bring a long-term perspective on the financial and professional lines space based on decades of experience in this important market,” Kuhn said. “We recently added a professional lines team in Continental Europe and have introduced several new transactional risk products. We will continue to substantially enhance our products, quality underwriting approach and related services to address the evolving global risks and issues impacting our clients.”
Source: Sompo International Holdings Ltd.
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