Sompo

The deal is expected to be concluded within the first quarter of 2022.

Neville Weston, who will be based in Bermuda, will also become a member of Sompo’s reinsurance leadership team.

The underwriter joined Everest at the beginning of last year following Barbican’s acquisition by Arch.

Gross written premiums at the carrier grew by 40%, driven by rate improvement and the growth in crop insurance via the carrier’s acquisition of Diversified.

The InsurTech is looking to expand into new product lines and geographies.

The executive will replace current leader Forbes Geekie.

The underwriter will be based in Barcelona and focus on professional indemnity business.

The Bermuda-based carrier’s new Singapore-based team will target accounts in the financial institutions, hospitality, life sciences, professional services, real estate and technology industries.

The new Sompo Light Vortex will work with data analytics company Palantir.

The parent releases targets for the Bermuda business following the news of John Charman’s retirement as executive chairman.

After successfully founding Tarquin and Axis, Charman led Endurance to a bumper valuation when bought by Sompo.

Mikio Okumura will step aside from the CEO post at the Bermudian carrier to a vice chairman role.