PEMBROKE, Bermuda – May 24, 2022 – Sompo, a leading global provider of commercial and consumer property and casualty (re)insurance, announced that today Brazil based Sompo Seguros S.A. has entered into a definitive agreement to spin off its consumer business into a new insurance subsidiary and sell the shares of the new company to HDI Seguros S.A. (“HDI”), a subsidiary of Germany based Talanx AG.
Sompo Seguros will now have the opportunity to leverage the strong market presence it already has in Brazil and reposition itself to seek out significant Commercial P&C insurance growth and profitability opportunities in this emerging market. This strategic change supports Sompo’s goals of expanding in new and existing geographies, delivering a consistent market approach across all lines of business and strengthening the strategic alignment across Sompo geographies globally.
To review the public details of this sale and press release from Sompo Holdings, view here.
About Sompo
“Sompo” refers to Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries. Through its operating subsidiaries, Sompo 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 approximately 10,000 employees at Sompo, 75,000 employees total worldwide, entities in over 29 countries and over $36 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 and Poor’s on its principal operating subsidiaries. For more information about Sompo, follow us on LinkedIn or please visit www.sompo-intl.com.
Contact
Sompo
Cara Gallagher
SVP, Marketing & Communications
Phone: + 1 917 421 4973
Email: [email protected]