Sompo GRS Europe will offer commercial property, primary and excess casualty, and environmental coverage, as well as parametric natural catastrophe products
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Sompo Global Risk Solutions (GRS) has formed a new team, Sompo GRS Europe, based in London to serve the European market through retail brokers.
Sompo GRS Europe will offer commercial property, primary and excess casualty, and environmental coverage, as well as parametric natural catastrophe products.
Led by Adam Bergen, vice president, Sompo GRS head of Europe, who will be based in Sompo International’s London office, the new team will target accounts in select industries.
The unit’s dedicated teams of underwriting, actuarial, claims and risk control specialists will be focused on serving Sompo GRS clients in the financial institutions, hospitality, life sciences, professional services, real estate and technology industries across the region.
The introduction of Sompo GRS in Europe builds on Sompo International’s existing London market and European platform business and drives the further development of its “one company” platform in the region.
The move also supports the growth of Sompo GRS, which has traditionally offered comprehensive multi-line capabilities through a network of retail brokers to companies with operations in the U.S. and Mexico.
“Our integrated industry vertical model has provided Sompo GRS a solid foundation for profitable growth. We are excited to build on the momentum we’ve created in markets like the U.S. and Mexico as we position ourselves to meet the risk management needs of clients with exposures in the European market,” commented Michael Chang, CEO of Sompo Global Risk Solutions.
This expansion enables Sompo GRS to work directly through Sompo International’s extensive European network of retail brokers in order to offer our white-glove service model and holistic approach to risk management to U.S. based multinationals and other companies operating in the region, he added.
At this critical time of tremendous change and challenge for our business partners and clients, our ability to provide the best possible service is vital. The launch of GRS in the UK and Europe is a great addition to our ability to do that, with businesses needing comprehensive risk management services and multi-line capabilities more than ever before, said Julian James, CEO, International Insurance for Sompo International.
