Sompo
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The long-serving AIG executive has been on the boards of McGill and Partners and JLT since retiring. -
The carrier also revealed it has meaningfully reduced catastrophe business since 2017.
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Plus the lowdown on the potential Howden-TigerRisk tie-up and all the top news of the week.
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The carrier’s combined ratio improved by 3.9 points to 93.9%, largely due to a better loss ratio.
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The former CEO is tasked with improving collaboration between Sompo International and sister companies.
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The incoming executive will report to Christopher Donelan, CEO of global reinsurance.
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As part of the revamp, Michael Chang has been named global head of customer and distribution.
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The incoming senior vice president will be tasked with helping to build Sompo’s casualty portfolio in the London market.
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The carrier benefited from substantial top line growth and an absence of Covid-19 claims.
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Prior to joining Sompo International, Patrick Corbett was life and A&H CUO at Axa XL for three years.
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Several other executive officers are also moving roles, all of which will come into effect on 1 April 2022.
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The carrier boosted gross written premiums by 18% and benefited from rate improvement.
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