Sompo Holdings News

Japan’s Largest Insurers Take Another Hit from Typhoon Losses

A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that ends in March. Japan’s …

Data Firm Palantir’s Partnership with Japan’s Sompo Insurance Targets Health, Cyber

Silicon Valley data analytics company Palantir Technologies Inc. has established a joint venture with Japanese insurance holding company Sompo Holdings Inc. that will initially focus on health and cybersecurity clients, Palantir said. The joint venture, owned 50-50 by Palantir and …

Typhoon Hagibis Likely to Cause Earnings Event for Japan’s Insurers: Fitch

Typhoon Hagibis is likely to be an earnings event for Japan’s three main non-life insurance groups, MS&AD Insurance Groups Holdings, Sompo Japan Nipponkoa Insurance and Tokio Marine & Nichido Fire Insurance Co. (TMNF), with no material effects on capital and …

Japan Insurers Eye China Acquisitions in Continuation of Overseas Deal Spree

Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down any time soon. The cashed-up insurers are …

Charman Promoted to CEO, Sompo Holdings Overseas Insurance; Frudd Named Int’l CEO

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that John Charman, currently chairman of the board of directors and chief executive officer of Sompo International, will be promoted to chief executive officer …

Japanese Typhoons Put Downward Pressure on Creditworthiness of Insurers: S&P

The recent run of large natural disasters to hit Japan likely has put downward pressure on the creditworthiness of the nation’s three largest non-life insurance groups, according to S&P Global Ratings in a market briefing. Following July’s heavy rains, Typhoon …

Sompo Int’l to Form Retail Insurance Platform to Integrate International Businesses

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced it will establish a retail platform designed to integrate all the operations of Sompo Holdings Inc. outside Japan. Sompo Holdings, which has 45 licensed entities spanning …

Canopius Appoints Exari’s Davison as COO and Meyer from Brit as CFO

Canopius AG announced that Laurie Davison has been appointed group chief operating officer, while Nigel Meyer has been named group chief financial officer. With 20 years’ experience in technology and insurance, Davison was previously chief operating officer at software/technology company …

Centerbridge-Led Consortium Completes $952M Acquisition of Canopius from Sompo

The $952 million acquisition of Canopius from Sompo Holdings has been completed by a private equity consortium led by Centerbridge Partners, L.P., which includes private investment firm Gallatin Point Capital LLC. Having received all necessary regulatory consents, Canopius is once …

Japan’s Sompo Holdings to Sell Sompo Canopius for $952M to Centerbridge

Japan’s Sompo Holdings Inc. announced it has agreed to sell Lloyd’s re/insurer Sompo Canopius AG to a private equity consortium led by Centerbridge Partners for $952 million. On completion of the purchase, Canopius will become a standalone business led by …