COLOGNE, Germany – March 20, 2023 – Sompo International, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced that it has entered into a distribution agreement to provide capacity to leading specialist German general aviation broker, PETER H. BRAASCH.
Ralph Brand, President, Continental Europe Insurance at Sompo International said: “This agreement underlines our growth ambitions in the European specialty insurance market and the continued strengthening of our position as a leading global general aviation insurer.
“The combination of Sompo International’s A+ rating coupled with the strength of PETER H. BRAASCH’s established international distribution network is a compelling proposition for insurance buyers. In addition, both entities draw on decades of knowledge and experience in the market and share a client-centric philosophy that prioritises long-term, productive relationships.”
Andreas Braasch, owner of PETER H. BRAASCH, said: “Partnering with Sompo International not only gives us access to a global carrier with a robust balance sheet, claims handling expertise, and a trusted reputation in the market, but will also enable us to provide more flexibility in the services for our clients.”
About Sompo International
“Sompo International” refers to Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries. Through its operating subsidiaries, Sompo International is a leading global provider of commercial and consumer property and casualty (re)insurance. Sompo International Holdings Ltd. is an indirect wholly owned subsidiary of Sompo Holdings, Inc. (“Sompo Holdings”). With more than 9,000 employees at Sompo International, 75,000 employees total worldwide, entities in over 46 countries and over USD 38 billion in Gross Written Premiums, Sompo Holdings is one of the leading property and casualty insurance groups in the world. Sompo Holdings maintains excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard & Poor’s on its principal operating subsidiaries. For more information about Sompo International, follow us on LinkedIn or visit www.sompo-intl.com.
About PETER H. BRAASCH
The family business PETER H. BRAASCH was founded in 1971 and offers unique competence in the aviation insurance market based on the accrued experience of its conscientious experts. It is cooperating with all German and international companies, which are signing aviation risks. PETER H. BRAASCH and its team of 22 experts have more than 5000 customers in 30 countries, from the drone operator over gliders and helicopters up to corporate jets. For more information please visit www.phbraasch.com.
Contact Luther Pendragon
+ 44 7827 903973
Contact PETER H. BRAASCH
+49 40 4191 77-0