PEMBROKE, Bermuda – July 29, 2019 – Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that Sompo Global Risk Solutions (GRS) has entered into a strategic partnership with VGM Insurance & Financial Solutions (VGM) to offer its insurance products and services to golf courses and country clubs.
Sompo GRS will offer its broad array of insurance products which include property, primary casualty, lead umbrella, auto, workers’ compensation, and environmental coverage along with VGM’s specialized risk management services to golf club owners and managers across the U.S. through retail insurance agents and brokers serving these niche markets. The partnership targets golf facilities of all types and sizes including public, private and semi-private golf courses and country clubs as well as daily fee courses and golf management companies. Sompo GRS will individually underwrite each account.
Sompo GRS offers comprehensive multi-line capabilities targeted to accounts in select industry verticals including hospitality, real estate, life sciences, financial institutions and professional services, in addition to Japanese and South Korean companies with operations in the U.S. and Mexico. Sompo GRS provides a client-centric white glove service approach to each account, delivered by dedicated teams encompassing underwriting, actuarial, claims and risk control specialists.
VGM works through a network of retail agents and brokers to help club owners and managers reduce costs, address operational concerns and manage risks. A recognized leader in the club and hospitality space for almost 30 years, VGM places a broad range of commercial insurance products for golf courses and management companies in all 50 states and the District of Columbia.
Mr. Michael Chang, CEO of Sompo Global Risk Solutions commented, “We are very pleased to collaborate with VGM to provide the golf industry with an additional point of access to Sompo International’s insurance products and risk control and claims expertise. Our shared commitment to understanding our clients’ business strengthens our ability to address the unique risk management needs of golf clubs and country clubs across the United States.”
Mr. Mike Kloos, President of VGM Insurance & Financial Solutions added, “For decades, VGM has connected golf club owners and managers with leading suppliers of products and services needed to run their business. We are excited to partner with Sompo GRS to enhance the specialized risk management products and expertise we offer to our golf industry clients and VGM Club members.”
About Sompo International
Sompo International Holdings Ltd. (Sompo International) 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 and energy, and 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.
About VGM Insurance & Financial Solutions
VGM Insurance & Financial Solutions is a Bermuda-based captive holding company providing specialty insurance programs for a variety of niche industries. It is part of The VGM Group, Inc., a national leader in developing member service organizations across a diverse range of industries including health care, insurance, golf and hospitality. VGM Insurance & Financial Solutions is the exclusive insurance and financial provider for VGM Club, providing discounted purchasing opportunities to member golf clubs and facilities in key areas including agronomy, clubhouse and food & beverage.
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