Sompo International creates retail platform for global integration

April 12 2018 by InsuranceAsia News Staff

Sompo International Holdings has decided to set up a new retail platform to facilitate the integration of all operations of Sompo Holdings outside Japan.

Sompo Holdings envisions bringing all its international businesses outside Japan under the ownership of Sompo International by 2020.

Sompo Holdings has 45 licensed entities in 32 countries throughout Europe, North and South America, Asia, Oceania, the Middle East and Africa.

Sompo International is already finished with the integration of the business operations and staff of Sompo America, and the integration of Sompo Japan Nipponkoa Insurance Company of Europe is expected to be completed shortly.

According to the plan, Sompo International will establish a new retail platform that reflects the different business and operational needs of its current commercial property and casualty business and the Sompo Holdings overseas retail businesses.