Sompo expands global risk solutions into UK and European markets

Bermuda-based specialty re/insurer Sompo International Holdings has expanded Sompo Global Risk Solutions' capabilities to serve the European market through retail brokers.

Sompo Global Risk Solutions (GRS) has formed a new team, Sompo GRS Europe, based in London. It will offer commercial property, primary and excess casualty, and environmental coverage, as well as parametric natural catastrophe products.

Led by Adam Bergen, vice president, Sompo GRS head of Europe, who will be based in Sompo International’s London office, the new team will target accounts in select industries and the unit will encompass dedicated teams of underwriting, actuarial, claims and risk control specialists - focused on serving Sompo GRS clients in the financial institutions, hospitality, life sciences, professional services, real estate and technology industries across the region.

Sompo GRS has traditionally offered comprehensive multi-line capabilities through a network of retail brokers to companies with operations in the US and Mexico. The launch of a new team extends the geographic reach of the unit.

Michael Chang, CEO of Sompo Global Risk Solutions, said: “Our integrated industry vertical model has provided Sompo GRS a solid foundation for profitable growth. We are excited to build on the momentum we’ve created in markets like the U.S. and Mexico as we position ourselves to meet the risk management needs of clients with exposures in the European market. This expansion enables Sompo GRS to work directly through Sompo International’s extensive European network of retail brokers in order to offer our white-glove service model and holistic approach to risk management to U.S. based multinationals and other companies operating in the region.”

Julian James, CEO, international insurance for Sompo International, added: “At this critical time of tremendous change and challenge for our business partners and clients, our ability to provide the best possible service is vital. The launch of GRS in the UK and Europe is a great addition to our ability to do that, with businesses needing comprehensive risk management services and multi-line capabilities more than ever before.”