Sompo
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The toll of risk losses sustained by the PVT market this year is mounting. -
Alessa Quane will report to Sompo P&C CEO James Shea.
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What’s next for the reinsurance market as Monte Carlo approaches?
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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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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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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Plus, the latest people moves and all the top news of the week.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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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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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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Plus, the latest people moves and all the top news of the week.
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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Plus, the latest people moves and all the top news of the week.
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The overseas division booked a combined ratio of 94% for the quarter.
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The executive was previously head of excess casualty, North America.
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Emilie Hungenberg joins the carrier from Aspen.
