Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced that the company is launching SomPro, a global financial and professional lines platform encompassing insurance and reinsurance capabilities.
SomPro said it aims to deliver market-leading underwriting, risk management and claims services by sharing the company’s product expertise and distribution relationships across Sompo’s specialty teams.
Through its platform platform and Lloyds’ union, Sompo will offer a range of reinsurance products, as well as more than 30 different financial and professional line insurance products as well as a broad license coverage.
SomPro will include more than 100 dedicated contracting and claiming professionals operating in key insurance markets worldwide, including the US, Bermuda, the UK, Europe and Asia.
SomPro will be led by a steering group of senior professional line leadership and will be led by Chris Donelan, chairman and vice president of North American Reinsurance and chairman of the Global Relief Reinsurance.
“The financial and professional line market is an area where Sompo International has achieved a significant scale and scale around the world,” said John Charman, CEO and president of Sompo International.
“While SomPro continues to focus on delivering superior service to our customers, our Japanese parents are combining our broad capabilities across the globe, including those of Sompo Holdings, Inc.” “We were built in AgriSompo, our global integrated agriculture platform that we started last year, and now we will continue to create additional platforms where our private resources create significant differences for our customers and trading partners.”
“The creation of SomPro reflects Sompo’s commitment to this market and the depth of capabilities we offer,” says John (Jack) Kuhn, Prime Minister’s assistant to Global Insurance CEO John Sommer.
“Chris and our senior leaders bring a long-term perspective to financial and professional lines based on decades of experience in this important market,” Kuhn said. “We recently added a professional team at Continental Europe and offered a few new operations at risk. We will continue to improve our products, our quality insurance approach and related services to a significant extent to address the global risks that are evolving and the problems that affect our customers. “
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