Sompo International announced it has been granted a license to write primary insurance in France by the French Prudential Supervision and Resolution Authority (ACPR), further extending the company’s commercial property/casualty insurance capabilities and product offerings in Continental Europe.
“The granting of the French primary insurance license not only supports the company’s strategic expansion but further strengthens our position in Continental Europe,” commented Ralph Brand, Sompo International’s president, Continental Europe Insurance.
“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,” Brand added. “Our expertise across a range of insurance lines, coupled with our financial strength, make us an attractive business partner.”
Sompo International (also known as Sompo International Holdings Ltd.) is a Bermuda-based holding company with more than 9000 employees. Through its operating subsidiaries, Sompo International is an indirect wholly owned subsidiary of Sompo Holdings Inc., which has 75,000 employees worldwide, entities in over 46 countries and over US$35 billion in gross written premiums.
Source: Sompo International
Was this article valuable?
Here are more articles you may enjoy.
Homebuilders Cut on ‘Sluggish’ Housing Market, Florida Woes 
Damage From Hurricane Beryl May Cost Insurers $2.7B in US, $510M in Caribbean: KCC 
Woman Used Photos from Another Person in State Farm Claim, NCDOI Says 
AIG Files Amended Suit Against Former Execs, Dellwood Insurance 
