Sompo International’s reinsurance CEO resigns after 17-year tenure; replacement revealed
Sompo International Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed a new chief executive officer of its reinsurance business that represents approximately $2.4 billion of annual gross written premiums.
Stephen Young, the current CEO of reinsurance at Sompo International (SI) has resigned from the company to pursue other interests.
Christopher Donelan, currently the deputy CEO of SI reinsurance will assume the position of CEO of SI reinsurance. He will report to Christopher Gallagher, CEO of SI’s commercial P&C business.
Prior to joining Sompo International in 2013, Donelan held senior reinsurance leadership roles at a property and casualty carriers and has over 30 years of industry experience.
“I am extremely pleased that Chris has assumed the role of CEO of SI’s Reinsurance business," said Gallagher. "His extensive industry experience, strong relationships with our major clients, distribution partners and employees, historical knowledge of our company combined with a proven track record of building profitable and meaningful reinsurance portfolios qualifies him as the ideal executive to lead our Reinsurance business. In addition to his role as CEO, Chris will be joining the SI Commercial P&C Executive Team. Finally, I would like to thank Stephen Young for his many contributions to SI over his 17-year tenure with the company and wish him the very best in his future endeavors.”
John Charman, executive chairman of SIH and CEO of Sompo Holdings overseas insurance and reinsurance business, added: “I am delighted that Chris has been appointed to this position. I’ve known and worked closely with Chris for almost 20 years and have complete confidence in his ability to lead this critically important segment of our global business. Chris is well known throughout our industry as an excellent underwriter and a decisive leader who has the proven ability to build profitable portfolios, attract and develop strong talent and drive strategic initiatives across a global platform. I look forward to continuing to work closely with him and the rest of the SI and Reinsurance leadership teams as we continue the transformation of Sompo International into a top 10 global insurer and reinsurer.”
Donelan commented: “I’m honored to accept the role of CEO of SI’s Reinsurance business having been a part of this team for over 6 years. Emerging from all the current market turmoil, I am convinced we have the opportunity to substantially increase the profile of our reinsurance platform to become an even more relevant and strategic, global partner for our cedants and broker partners. I look forward to the challenge and would like to thank Chris, John, and the SIH leadership team for giving me this opportunity.”
