Willis Towers Watson has entered into a strategic partnership with Sompo Global Risk Solutions (GRS) to create an integrated insurance platform to serve the needs of the middle market commercial real estate segment.
The Willis Towers Watson Retail, Office and Industrial (ROI) platform offers a range of insurance products for the real estate market, including general liability, automobile liability, workers compensation and umbrella coverage along with a customized property product and casualty pollution product tailored to address the unique risks faced by the segment. The partnership targets retail, office and industrial clients, with the exception of regional malls. Sompo GRS will individually underwrite each account.
Willis Towers Watson focuses on clients in the real estate sector through its dedicated Real Estate practice, which functions as a boutique business housed within a global broker. The vertically-integrated Willis Towers Watson Real Estate practice is aggregated in four primary centers across the U.S. — New York, D.C., Dallas and Los Angeles.
According to Michael Chang, CEO of Sompo Global Risk Solutions, the platform that takes a holistic view of each client’s risk profile across all lines of business and brings the combined expertise and experience of Willis Towers Watson and Sompo GRS to the real estate market.
Willis Towers Watson is a global advisory, broking and insurance firm.
Sompo GRS is part of Sompo International Holdings Ltd. (Sompo International), a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance.
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