The French Prudential Supervision and Resolution Authority has granted Sompo International a licence to write primary insurance in France.
“The granting of the French primary insurance license not only supports the company’s strategic expansion but further strengthens our position in Continental Europe,” Ralph Brand, president of Continental Europe Insurance at Sompo International, said in a release.
“Buyers in France are increasingly looking for carriers with a local presence who can offer the capital, risk appetite, and risk management capabilities they need to address the challenges they face. Our expertise across a range of insurance lines, coupled with our financial strength, make us an attractive business partner.”
The insurer said the new licence further extends Sompo International’s commercial property & casualty insurance capabilities and product offerings in the region.
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