Sompo
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He will succeed retiring Daniel Neo, who will remain at Sompo for the year.
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Allen succeeds Cliff Easton, who is retiring after a 50-year career.
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Sompo International booked an adjusted profit of $860mn for its fiscal Q3.
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The new licence expands the carrier's P&C capabilities in Europe.
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The Bermudian’s reserves will be on watch when its Japanese parent reports earnings.
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He will be replaced by current COO Mikio Okumura, who will assume the role of CEO effective 1 April 2024.
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Sutcliffe steps into the role vacated by Jon Bartlett, who retired at the end of 2023.
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Finance minister describes the activity as “widespread, repeated and continuous”.
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The underwriter has spent the past 12 years working as a senior marine underwriter at RSA.
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Barr’s resignation from his previous role as head of marine at CNA Hardy was first revealed by this publication in July of this year.
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Sompo has begun writing aviation war for the first time, while Apollo has picked its pen back up after a pause.
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The international unit also suffered losses in its agriculture and reinsurance segments.
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Chiew joins from Axa XL where she as a senior war, terrorism and political violence underwriter.
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Sutcliffe will succeed Jon Bartlett, who is set to retire.
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The carrier is looking to extend its insurance offering to mid-sized UK businesses.
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He will report to Mathieu Borneuf, head of professional lines in Continental Europe.
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Before joining Sompo, Bob Thaker spent more than a decade at Hiscox, where he was latterly CEO of Hiscox UK.
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Sompo said the appointments highlight the carrier’s commitment to the Italian insurance market.
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Sompo International said it saw growing demand for expertise and capacity in the region.
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The carrier has also promoted Annette Wolff to head of professional lines insurance for Germany and Austria.
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The combined ratio increased to 92.4%, driven by investment and inflation.
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The executive replaces Thomas Brazil, who is moving to a new role with the Sompo in Switzerland.
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Japan’s Financial Services Agency has ordered an investigation into the carriers’ practices.
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The appointment comes just over two years after Sompo International entered the political violence and terrorism market.
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The underwriter specialises in business including commodity traders, petrochemical risks and African business.
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Staff turnover remains elevated across marine classes amid a battle to secure talent.
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The former reinsurance CEO will join Sompo International’s board of directors.
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The executive joins from Axa XL and will report to Continental Europe president Ralph Brand.
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Sompo is the eighth major insurer to leave the NZIA, casting even further doubt on its future as remaining members explore options around whether to continue.
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The executive will report to CEO James Shea and is based in Florham Park, New Jersey, United States.
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Net profit at a group level took a hit, however, in part due to the impact from domestic natural disasters and major accidents.
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Based in Boston, the executive will report to Sompo International CEO James Shea.
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The carrier booked a heavy domestic and overseas cat load during the quarter.
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The executive has worked for Howden and Allianz Global Corporate & Specialty.
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The carrier is expanding its A&H appetite in London as part of its international insurance growth strategy.
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Christian Crozier joins from Berkshire Hathaway, where he spent five years as a senior casualty underwriter
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Speaking at Insurance Insider’s London Market Conference, the executive said insurers spent too little time focusing on the challenges faced by customers.
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The unit booked a combined ratio of 90% as top-line expansion helped to improve underwriting performance.
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Ed Martin-Prud’homme’s departure comes just a few months after Rupert Cousins and Richard Housley both left the carrier.
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The recruit has had stints at Generali, Axa XL, AIG and Chubb.
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The storm is not expected to be a threat to the order of Jebi or Hagibis.
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The move follows the news that Lisa Skinner is leaving the A&H team at Sompo International to join Everest Re.
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The experienced executive has held leadership positions across Europe at AIG, Zurich and Allianz.
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Rupert Cousins’ departure comes nearly two months after Richard Housley, CEO of Endurance at Lloyd’s, resigned from the carrier.
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The transaction will mark Sompo International’s full withdrawal from the Lloyd’s market.
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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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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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Sompo International has appointed Mike Reid as executive vice president and head of casualty for international insurance.
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The underwriter has spent 20 years in aviation underwriting with Catlin and Beaufort.
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The well-known underwriter has held similar positions at Sompo International and Partner Re.
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The deal is expected to be concluded within the first quarter of 2022.
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Neville Weston, who will be based in Bermuda, will also become a member of Sompo’s reinsurance leadership team.
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The underwriter joined Everest at the beginning of last year following Barbican’s acquisition by Arch.
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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.
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The InsurTech is looking to expand into new product lines and geographies.
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The executive will replace current leader Forbes Geekie.
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The underwriter will be based in Barcelona and focus on professional indemnity business.
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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.
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The new Sompo Light Vortex will work with data analytics company Palantir.
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The parent releases targets for the Bermuda business following the news of John Charman’s retirement as executive chairman.
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After successfully founding Tarquin and Axis, Charman led Endurance to a bumper valuation when bought by Sompo.
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Mikio Okumura will step aside from the CEO post at the Bermudian carrier to a vice chairman role.
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At group level the pandemic has a positive effect thanks to reduced motor claims.
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Maxine Goddard and Rachael Dobie will be senior vice president and assistant vice president respectively.
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The pandemic and natural disasters impacted the result by $178mn.
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Flock said the capacity could be used to cover anything from drone cargo deliveries to flying taxi passenger flight.
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The new recruit will run SI’s UK and international property team.
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The business builds its team after securing more than $600mn of backing from Oaktree Capital Management.
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The carrier slashes international unit full-year profit forecasts due to the pandemic and nat cats.
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Mike Connelly was previously The Hartford’s specialty commercial CFO.
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The change expert worked at TIAA and Bank of America.
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The executive joins from Axa XL to take up the newly created role.
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The MGA, which writes on paper from Accident Fund Insurance Company of America, uses AI in its underwriting process.
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Lauren Folkard was Barbican’s cyber class underwriter for just over two years and will be based in London.
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The carrier booked higher natural catastrophes and loss deterioration on its crop book.
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The move comes as the carrier retreats from Lloyd’s to operate under a single company market platform.
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Warren Diogo will head up the London-based team and focus on wind and solar risks.
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The funding comes ahead of an expected IPO for the Silicon Valley company.
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The parent group predicts a 14bn yen ($130mn) impact in the 2020/21 year from Covid-19, rising to 30bn yen in a worst-case scenario.
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The partnership will initially offer traditional crop insurance products and then expand.
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Ismael Lopez takes over from Junji Hisano, who has moved to the post of chief client officer.
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The underwriter spent 19 years at Chubb writing biotechnology and life sciences business.
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The executive replaces Stephen Young, who has resigned to pursue other interests.
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Group profits slip back due to cat loss reserve strengthening.
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The executive will replace Graham Evans, who is to leave after seven years.
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David Carter has 30 years of industry experience and has worked at Travelers and The Hartford.
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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.
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