Sompo News

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 …

Sompo International Appoints Marine, Aviation & Energy Leaders in London

Bermuda-based Sompo International announced that Paul Ashworth has joined the company’s London Market Insurance platform as head of Marine Insurance, managing a diverse portfolio, including hull & liability and cargo & specie marine classes. Ashworth has built and managed marine …

A.M. Best Places Ratings of Sompo Japan Canopius Re Under Review

A.M. Best has placed under review with developing implications the financial strength rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Zurich-based Sompo Japan Canopius Reinsurance AG. The credit rating action follows the successful completion the …

Endurance, with SOMPO as New Owner, Gets A.M. Best Ratings Upgrade

Endurance Specialty Holdings Ltd. got a financial ratings upgrade from A.M. Best and is no longer under review, based on positives the ratings agency sees after it was acquired by Japan’s SOMPO Holdings Inc. for $6.3 billion. A.M. Best upgraded …

Japan’s Cash-Flush Insurers to Keep Paying Hefty Prices for Overseas M&As

Japan’s cashed-up insurers are likely to keep paying hefty premiums for overseas assets as they seek to spur growth and overcome negative interest rates, fewer lucrative investment options and a fast-maturing market at home. According to Thomson Reuters data, last …

Craze for Asian Bancassurance Deals Fits Definition of Insanity: Opinion

Among all financial products, bancassurance perhaps comes closest to fitting Einstein’s theory of insanity: Insurers have been conducting the same sorry experiment again and again, expecting different results. Right now, it’s Asia’s turn to be gripped by madness as firms …

Allianz, AXA & Sompo to Distribute Products Across Asia via CIMB Bank Branches

Allianz SE, AXA SA and Sompo Japan Nipponkoa Holdings Inc. made final bids for the rights to distribute their general insurance products through CIMB Group Holdings Bhd.’s branches across Asia, people with knowledge of the matter said. CIMB could fetch …

Canopius Appoints Turner as Head of Specie

Canopius Group* AG today announces the appointment of Philip Turner as head of specie, effective immediately. Turner joins from Marsh where he has led its specie practice for the past 20 years. He will report to Joyce Webb, group head …

Best Upgrades NIPPONKOA’s Ratings to ‘A+’; Affirms Subs

A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “aa-” from “a+” of Japan’s NIPPONKOA Insurance Company Ltd. Best also affirmed the FSR of ‘A’ (Excellent) …

Best Affirms Sompo Japan’s ‘A+’ Ratings; Subs Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Sompo Japan Insurance Inc. as well as the FSR of ‘A ‘(Excellent) and ICR of “a” of its subsidiary, …