Combining Underwriting Expertise with Global Reach
Christopher Gallagher
Executive Director, Sompo International Holdings Ltd.
and CEO, Sompo International Commercial P&C
Growth of Commercial Business
Sompo International’s Commercial P&C platform now encompasses substantially all Sompo commercial property, casualty, and specialty insurance and reinsurance businesses outside of Japan.
Having achieved significant growth in our global insurance business over the last five years, in 2018, we set the foundation for further expansion with the successful formation of SI Insurance (Europe), SA (SIIE). We have transferred Sompo Japan Nipponkoa Insurance Company of Europe Limited’s Continental European business to SIIE and expanded our presence in Europe beyond SIIE’s headquarters in Luxembourg to include operations in Belgium, France, Germany, Italy, and Spain. With the integration of our commercial insurance operations into our unified global platform, we are strengthening our ability to bring our extensive product knowledge to local markets in regions around the world.
Global Product and Service Platforms
A key differentiator for the Commercial P&C team is our ability to combine the deep underwriting, claims, and risk management expertise of Sompo International with the global reach of Sompo Holdings to develop new insurance and reinsurance solutions. This includes developing product and service platforms that unify our underwriting expertise in a particular class or line of business and enhancing those platforms with innovative solutions tailored to local needs. For example, we continue to develop new products to enhance our industry leading AgriSompo agriculture insurance platform, including the introduction of parametric weather products for farmers in
Thailand and Brazil.
We are also looking for additional opportunities to apply our approach to building unified insurance platforms like AgriSompo to grow additional lines of business globally. In fiscal 2018, this included the launch of SomPro, a global platform uniting our broad financial and professional lines capabilities. Drawing on the underwriting expertise of Sompo International and the global reach of the Sompo Holdings Group, SomPro brings together our worldwide network of professional liability underwriting teams to deliver a broad range of financial lines and cyber insurance and reinsurance products.
Building on AgriSompo, and now SomPro, we continue to create additional platforms where our specialty underwriting resources are key differentiators to our clients and trading partners. Each of these globally networked centers of excellence is backed by our exceptional financial strength and our extensive licensing capabilities. This combination of underwriting experience and global resources uniquely positions us to develop innovative insurance solutions tailored for local markets while also serving as key drivers of our future growth.
