Sompo International looks to expand with sweeping overhaul of insurance business
Global specialty re/insurer Sompo International Holdings has begun a strategic overhaul of its insurance operations, in a move it hopes will “prepare the business for expansion and sustainable profitable growth”.
The new structure is designed to ensure a consistent market approach and improve the ease of doing business globally with Sompo.
The key changes, effective April 4, will include Michael Chang expanding his role to focus on global key relationships as global head of customer and distribution management, reporting to Sompo International chief executive James Shea.
Julian James will oversee the newly named EMEA (Europe, Middle East, Africa) region in addition to commercial P&C oversight in Asia and Latin America and will continue to report to Chris Gallagher.
While Daniel Neo will lead the company's Asia Pacific region for all P&C commercial and consumer insurance in the region and will report to Shea.
Chris Sparro will oversee Sompo's newly created North America region (“ Sompo North America”) which will include all P&C insurance in the US, Canada, Mexico and Bermuda regions and will continue to report to Gallagher.
Shea explained: “As part of a very large P&C business with over 130 years of history, Sompo International has become a stronger, dynamic and more relevant market presence in our industry.
“Our leadership team is committed to investing in the best talent and tools to meet the strategic goals of the business and successfully enter new markets while helping to drive our brand recognition around the world. Our priorities remain the same- we will lead with our core values and our customers and trading partners will be at the center of everything we do.”
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