Bermuda
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The executive most recently served as head of North American treaty reinsurance. -
The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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Signs of discipline indicate a “break” from past boom/bust market cycles.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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James River said the court was right to dismiss the fraud case.
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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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The lawsuit has been filed as sales talks with Sompo yielded a deal.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.
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