In a recent article published by the Asia Insurance Review during the annual Singapore International Reinsurance Conference, Rene Lamer, EVP ＆ Chief Executive, Singapore Branch, discussed potential growth opportunities for Sompo International (SI) and commented on the trend toward more significant partnerships between reinsurers and their clients. “It’s not necessarily seeking growth just because the Asia-Pacific market is growing, but really growth through strategic relationships,” he said. “The companies that have the desire, expertise and capability to grow these relationships will succeed.”
He noted that in order to meet global and local market needs, SI has launched integrated platforms that leverage expertise from both insurance and reinsurance teams. AgriSompo, an integrated platform that provides protection against yield and revenue shortfalls from single or multiple perils, was launched last October. The platform also draws on Sompo Global Weather’s innovative pricing system and expertise to offer additional customized weather driven products that are delivered on a global basis as either derivatives or (re)insurance products. Building on AgriSompo, SI more recently introduced SomPro, a global financial and professional lines platform that similarly leverages expertise from both insurance and reinsurance teams to provide tailored solutions to clients.
Commenting on the future of SI, Mr. Lamer noted that SI’s vision is to build the first truly global integrated insurance and reinsurance business to meet the evolving needs of the global (re)insurance market, and said, “With our geographic spread, broad product offerings and global platforms like AgriSompo and SomPro, we can offer our clients the service and expertise they need.”