Sompo International to Launch Casualty Facultative Reinsurance Operation
PEMBROKE, Bermuda – October 9, 2018 – Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today the formation of a new Casualty Facultative Reinsurance operation, led by Mr. Dave Adams. Mr. Adams will join Sompo International Reinsurance this week as Executive Vice President, Specialty/Facultative Reinsurance Team Leader along with an underwriting team with extensive industry experience underwriting individual risk and alternative market business.
With specialized product offerings in Commercial Auto and Worker’s Compensation that serve the needs of a niche market, the team will expand Sompo’s profile in the facultative reinsurance market. The team has extensive industry experience underwriting individual risk and alternative market business and will offer these using an industry leading automated modeling and pricing system, which will enable ceding company underwriters to efficiently quote and bind these reinsurance contracts.
Mr. Adams, who has more than 30 years of experience, comes to Sompo International from Maiden Re, where he was most recently Executive Vice President and Team Leader, Specialty Underwriting, responsible for their facultative, alternative market and program reinsurance treaties. He will report to Ms. Tracy Thomson, Executive Vice President, Head of Americas Casualty Reinsurance. Mr. Adams and the team are located in the Philadelphia, Pennsylvania area.
Mr. Chris Donelan, President & CUO North America Reinsurance & Head of Global Casualty Reinsurance, commented, “We are extremely pleased to welcome Dave and his team as we expand our casualty reinsurance capabilities. The new team is highly regarded in the market and will complement our strong casualty treaty business, as well as our facultative reinsurance offerings in the professional liability area.”
Stephen Young, CEO of Global Reinsurance at Sompo International, commented, “We continue to seek opportunities to leverage Sompo International’s capital and global presence in the reinsurance market. This new team will enable us to service additional clients and to advance our technical capabilities as we continue to enhance Sompo’s relevance in the facultative market.”
About Sompo International
Sompo International Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International 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 International 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 International’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo International, Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Sompo International, please visit www.sompo-intl.com.