Sompo swoops for Amlin's Pützer as head of financial lines in Germany

Bermuda-based specialty re/insurer Sompo International Holdings has hired Udo Pützer to join the company’s European insurance platform as head of financial lines insurance, Germany.

Pützer joins Sompo International with more than 15 years of professional lines underwriting experience, most recently as head of field underwriting – financial lines at Amlin Insurance SE in Cologne, Germany.

With a particular focus on D&O and professional indemnity insurance for commercial risks and financial institutions, Pützer’s prior roles span several insurers and broker, including head of financial lines for commercial D&O at Aon Versicherungsmakler Deutschland. Prior to that, he founded and grew Dual Deutschland, a start-up MGA in Cologne, Germany, where he served as co-managing director for eight years.

Based in Sompo's Düsseldorf office, Pützer will be tasked to introduce a range of management liability, professional indemnity, and financial institutions products to the German insurance market. He will also work in conjunction with the company’s specialized M&A insurance underwriting team in Barcelona to offer transaction risk products. He will report to Mathieu Borneuf, senior vice president, Continental European professional liability insurance.

In addition to joining the company’s leadership team in Germany, Pützer will also assume the role of underwriting manager with responsibility for the company’s Düsseldorf-based underwriting team, which currently offers a suite of property, casualty and marine insurance products.

Thomas Mannsdorfer, head of European specialty underwriting at Sompo International, said: “As a seasoned underwriting leader with extensive underwriting and operational experience in the German insurance market, Udo is a welcome addition as we broaden our professional lines focus in the European Economic Area (EEA). Udo’s presence in Germany will enable us to quickly extend Sompo International’s growing portfolio and presence in this specialized market.”

Thomas Brazil, chief executive officer of SI Insurance (Europe), SA, added: “Europe is a strategic market for Sompo and we continue to expand our product offerings to our EEA clients. New professional lines capabilities in Germany complement our property, casualty and marine offerings and further enhance SI Insurance (Europe)’s ability to expand our footprint in this region.”