Property and casualty (P&C) reinsurer Sompo has secured licences to write primary insurance in Belgium and the Netherlands.
The green light from regulatory authorities enhances Sompo’s commercial P&C insurance capabilities and product range in Continental Europe.
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This adds to the company’s existing operations in Germany, France, Spain, Italy and Switzerland.
Sompo Insurance Continental Europe president Ralph Brand said: “Sompo has grown its presence significantly across Continental Europe in recent years and the authorisations to write primary insurance locally in Belgium and the Netherlands provide yet another milestone for our business. We know clients are increasingly looking for partners with local presence aligned with global expertise who can support them through all aspects of the many and often complex risks they face.
“We empower our local teams to work with our clients and brokers to offer a flexible, solutions-driven approach that creates the framework for long-term partnerships and success. I very much look forward to watching us develop opportunities in both these exciting markets.”
Last month, Sompo Holdings reorganised its business into two global segments: Sompo P&C (re)insurance and Sompo Wellbeing.
Sompo P&C will integrate the insurance and reinsurance operations of Sompo International Holdings with its commercial and consumer P&C operations in Japan.
Sompo Wellbeing includes the life insurance business Sompo Himawari Life Insurance, as well as the nursing services business Sompo Care in Japan.
Sompo, part of Sompo Holdings, has nearly 9,500 employees globally to date.
