Sompo
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Ray Santiago joins the insurer from Axa XL’s New York office.
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The Japanese carrier is aiming for “steady organic growth” within international specialty but will consider acquisitions.
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Mitsui Sumitomo estimated its Hagibis hit at $2bn while Sompo said it had recovered almost $1bn from reinsurers this year.
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Shares in the Japanese big three carriers all rise as trading resumes after a public holiday.
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The Sompo and Munich Re-backed startup is planning to focus on business partnerships. -
Companies including Lloyd’s underwriters, Sompo Holdings, Berkshire Hathaway filed a lawsuit accusing primary insurers demanding “unreasonable allocation”.
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The Bermudian specialty (re)insurer and the broking giant will work together to create an “integrated insurance platform”.
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Sompo GRS mid-market leader Matt Burns will oversee the small business team.
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Michael Chang, Graham Evans and Chris Sparro will co-lead the commercial P&C business as Kuhn leaves.
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Increased competition has made the class one of the few in EC3 that is not seeing a rating upswing.
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The Japanese carrier plans to grow its European base and focus on specialty lines.
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The carrier has raised the 2019 natural catastrophe forecast for its Nipponkoa domestic unit to just over $480mn.
