Sompo
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The transaction will mark Sompo International’s full withdrawal from the Lloyd’s market. -
The carrier booked a combined ratio of 91.0%, a 3.2-point improvement on the prior-year period.
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Personnel movement in marine has remained buoyant all year, as new market entrants build their headcount.
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Richard Housley joined Sompo following the acquisition of Endurance in 2017 and has held several positions at the company, most recently serving as CEO of Endurance.
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Mitsui, Tokio and Sompo are to split the loss, which will be absorbed by retentions and property XoL treaties.
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The carrier is the first Japanese company to join the insurance, asset owner and investment manager green alliances.
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The long-serving AIG executive has been on the boards of McGill and Partners and JLT since retiring.
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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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Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.
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The former CEO is tasked with improving collaboration between Sompo International and sister companies.
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