Meet Stephen Minnella, AVP, Commercial Specialty Property – U.S.
Please tell us about your career journey and your path to Sompo.
I started my career in the personal lines sector of insurance. This was what most people probably think of when you say you work in the insurance industry. I quickly realized it was not something I wanted to make a career out of and I pivoted to preparing to go back to school for a J.D. degree. Unexpectedly, a close friend of mine asked if I’d be interested in working for another insurance company doing commercial lines. Intrigued by this new opportunity — and hesitant on collecting another student loan — I took a chance with it and never looked back. I began my tenure with Sompo, then Endurance, in 2014. I was supporting the newly formed US Commercial Property team as a Technical Assistant. From there, I was selected to partake in the first ever Underwriter Trainee Program. After graduating, I was given the opportunity to help start-up the then newly developed Middle Market Property product in New York which is what I’ve been doing over the past 5 years. Just recently I have embarked on a new endeavor – I am going over to the wholesale side, kickstarting a new E&S Property Non-Cat Middle Market product.
What advice do you have for prospective Sompo candidates?
If you’re looking for a company that gives you access to opportunities, it is here. Sompo is poised to be an industry leader and the executive team has made it clear this is the goal. With that comes various opportunities such as being a part of a new business unit, helping to tailor existing businesses as they grow, or relocating to a different city. I’m incredibly grateful for the opportunities Sompo has given me – including the newest one of spearheading a new product offering! My story is one of many that serves as proof this organization has a tremendous amount of faith in its employees. If you’re invested, the possibilities are plentiful.
Tell us about an initiative at Sompo that you are most excited for in 2022.
At the end of 2021 I was happy to learn our organization started an ESG initiative and it’s exciting to see it taking root in 2022. The recent announcement that Sompo is the first Japanese company to join 3 major net zero alliances under the umbrella of the Glasgow Financial Alliance is a statement not only to our customers and peers, but also to employees of this organization. Combating climate change and social injustice is very important to me personally and working for a company that takes it as seriously as I do is affirming.
What is your idea of a perfect day outside of the office?
Traveling abroad with my wife. There’s something about experiencing different places, peoples, and cultures that draws us to continually seek out the next adventure. We recently visited South Africa and Mozambique in April. Next opportunity we can take time off, Argentina, Vietnam, or the Canary Islands are destinations we’re excited about.
About Sompo
Sompo Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. Sompo’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo, Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda.
For more information about Sompo, please visit www.sompo-intl.com.