Sompo International, the Bermuda-based provider of commercial and consumer property and casualty re/insurance, announced the sale of its Endurance at Lloyd’s (EAL) run-off business to RiverStone Holdings Ltd., the legacy specialist.
The deal completes the company’s previously communicated objective to consolidate its UK presence into one company market platform. Financial details of the deal were not disclosed.
Sompo Int’l to Exit Lloyd’s, Writing New Business from London Company Market Platform
“Since executing on our strategic decision in 2020 to consolidate our UK presence into one company market platform we have taken a measured and controlled approach to withdrawing from Lloyd’s to ensure minimal disruption to our brokers and clients,” commented Julian James, CEO, Global Markets, Commercial P&C, in a statement. “We’re pleased to enter this agreement with RiverStone International and are committed to making this transition as seamless as possible for our brokers and clients.”
Source: Sompo International
Was this article valuable?
Here are more articles you may enjoy.
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
After Complaint, GEICO Agrees to Modify Cancellation Process That Uses AI 
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
Comulate Loses Appeal for Injunction Against Applied Systems 
