Sompo International expands operations in France with authorisation to write primary insurance

GlobeNewswire

HAMILTON, Bermuda, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Sompo International today announced that it has been granted a licence to write primary insurance in France by the French Prudential Supervision and Resolution Authority (ACPR), further extending the company’s commercial P&C insurance capabilities and product offerings in Continental Europe.

Mr. Ralph Brand, Sompo International’s President, Continental Europe Insurance said, “The granting of the French primary insurance license not only supports the company’s strategic expansion but further strengthens our position in Continental Europe. Buyers in France are increasingly looking for carriers with a local presence who can offer the capital, risk appetite and risk management capabilities they need to address the challenges they face. Our expertise across a range of insurance lines, coupled with our financial strength, make us an attractive business partner.”

About Sompo International

“Sompo International” refers to Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries. Through its operating subsidiaries, Sompo International is a leading global provider of commercial and consumer property and casualty (re)insurance. Sompo International Holdings Ltd. is an indirect wholly owned subsidiary of Sompo Holdings, Inc. (“Sompo Holdings”). With more than 9000 employees at Sompo International, 75,000 employees total worldwide, entities in over 46 countries and over USD 35 billion in Gross Written Premiums, Sompo Holdings is one of the leading property and casualty insurance groups in the world. Sompo Holdings maintains excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on its principal operating subsidiaries. For more information about Sompo International, follow us on LinkedIn or please visit www.sompo-intl.com.