Sompo Launches Global Transactions Group

PEMBROKE, Bermuda, June 28 -- Sompo International Holdings, a property and casualty insurance and reinsurance company, issued the following news release:

Sompo Holdings, Inc., the parent company of Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that it has created a Global Transactions Group to take overall responsibility for all M&A, intercompany transactions and joint ventures, whether in Japan or internationally. The Group comprises senior professionals who will be responsible for both insurance and non-insurance transactions, such as InsurTech and Healthcare services companies, in over 30 countries.

The Transactions Group will be headed by Nigel Frudd, Senior Executive Vice President, Chairman of Overseas M&A, Sompo Holdings, Inc. and Chief Executive Officer of Sompo International.

Mikio Okumura, Group Chief Strategy Officer and Executive Vice President, Sompo Holdings Inc., will coordinate domestic Japan transactions. Additional members of the Group will include Senior Executives of both Sompo Holdings and Sompo International. A global specialist legal and tax function is embedded within the Group.

Mr. Frudd commented, "The launch of the Transactions Group is the culmination of five years of hard work to create a truly global and elite transactions function. With global connectivity increasing, this Group will provide agile coordination internally and externally in order to more efficiently manage relationships with our investment bankers, lawyers, accountants, actuaries and other professional advisors. A key component of Sompo's strategy is to expand our worldwide footprint both in the insurance world and also in the healthcare services arena, which Sompo is pioneering in Japan."

Mr. Okumura said, "It is a significant step forward for the Sompo Group to create this Global Transactions Group, utilizing the specialist knowledge we have built up over the years. It will enhance quick and agile decision making on transactions as well as giving Sompo a more informed approach to transaction strategy and execution by sharing our expertise worldwide."