Sompo launches global financial and professional lines platform

New unit to share expertise across firm’s global teams to grow its specialty offering

Sompo launches global financial and professional lines platform

Insurance News

By Gabriel Olano

Sompo International Holdings has launched SomPro, a global financial and professional lines platform encompassing insurance and reinsurance capabilities.

According to the specialty P&C re/insurance provider, SomPro will deliver underwriting, risk management and claims services by sharing the company’s extensive product expertise and distribution relationships across Sompo’s specialty teams. It will offer more than 30 products in financial and professional lines, as well as a suite of related reinsurance products, with broad licensing coverage through its company platforms and its Lloyd’s syndicate.

In charge of SomPro will be a steering committee chaired by Chris Donelan, head of global casualty reinsurance and president & chief underwriting officer of North America reinsurance. The unit will be staffed by over 100 underwriting and claims professionals based in different markets, including the US, Bermuda, the UK, Europe, and Asia.

“The financial and professional lines market is an area where Sompo International has achieved significant scale and worldwide relevance,” said 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. 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.”

John (Jack) Kuhn, CEO of global insurance and chief underwriting officer of Sompo International added: “The creation of SomPro reflects Sompo’s commitment to this market and the depth of capabilities that we currently offer. 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. 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.”

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