Sompo appoints trio to co-lead commercial P&C business replacing John Kuhn
Bermuda-based specialty re/insurer Sompo International Holdings has named Michael Chang, Graham Evans and Christopher Sparro to co-lead its commercial property and casualty (SI Commercial P&C) insurance business.
The three executives, in addition to global reinsurance CEO Stephen Young, will report to Christopher Gallagher, CEO of SI commercial P&C, a business which represented nearly $4 billion in annual gross written premiums for the company at the close of 2018.
They will replace John Kuhn, CEO and CUO of SI Commercial P&C, who has stepped down from his role.
Chang and Sparro both joined Sompo International in New York in 2016 as the CEOs of global risk solutions and North American insurance, respectively. Evans joined in 2013 as the CEO of the European insurance business, based in London. Young, who is based in Bermuda, joined the company in 2002.
Gallagher said: “This restructuring clearly demonstrates the continuing transformation of Sompo International’s commercial P&C insurance business. We have assembled a strong group of experienced and talented insurance and reinsurance underwriting leaders who are extremely capable of leading this organisation going forward.
"I am confident that we are well positioned to continue to create value for our clients, distribution partners and other stakeholders and that the SI Commercial P&C business will become an even more meaningful contributor to the overall results of the Sompo Group. I would like to thank Jack for his contributions since joining the company and wish him the very best in his future endeavours.”
Nigel Frudd, CEO of SIH, added: “Our industry is at a critical point as consolidation continues and pricing appears to be gaining favourable momentum. Sompo International has the leadership, resources and capabilities to take advantage of these opportunities and are committed to achieving significant growth organically, strategically by M&A and through global partnerships. The changes announced today highlight the depth of the talent which we believe will allow us to exceed our ambitious objectives.”
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