PEMBROKE, Bermuda, August 27, 2020 (GLOBE NEWSWIRE) — Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that their global agriculture platform, AgriSompo, has entered into a strategic broking relationship with InVivo Group, a national union of 201 member cooperatives representing more than half of all farmers in France. Working through the Group’s Bioline Insurance subsidiary, AgriSompo will offer crop insurance solutions to the French agricultural market.
With a collaborative and flexible approach, AgriSompo delivers customized traditional and parametric crop insurance and reinsurance products quickly and efficiently to all participants of the agriculture value chain, from farmers, cooperatives and input providers, to agents, brokers and insurance companies in key markets around the world. Bioline Insurance is dedicated to the transformation of farming. With a deep understanding of the French crop insurance market, Bioline Insurance provides the cooperatives and farmers it represents with access to leading, innovative risk management providers and services in order to meet the needs of mankind through healthy food.
Mr. Kris Lynn, Chairman, AgriSompo and Senior Vice President, Global Agriculture, Sompo International commented, “By combining Sompo International’s experience developing leading-edge crop insurance products with Bioline Insurance’s strong network and reputation in the French crop market, we will have the opportunity to deliver meaningful solutions that address the evolving insurance needs of this growing market. We believe that working alongside InVivo and Bioline Insurance, we will be able to broaden our relationship and effectively introduce innovative products and technologies that support their sustainability goals.”
Mr. Florian Dupuy, CEO of Bioline Insurance commented, “As we continue to explore unique ways to improve agricultural production while reducing and managing losses throughout the food chain, we believe the AgriSompo team with its extensive agriculture insurance capabilities and breadth of products is well positioned to work alongside our cooperative members and farmers as they look for innovative ways to manage their risks. We believe this strategic partnership will enable us to further reach our target market and provide critical crop insurance protection to the broader French agriculture market.”
AgriSompo is an integrated underwriting, technology and distribution platform delivering innovative insurance and reinsurance solutions to agriculture partners worldwide. Launched in 2017 by Sompo International, AgriSompo has become a global leader in crop insurance. With a strong and growing presence in North and South America, Asia and Europe, AgriSompo combines global reach, financial strength, excellent ratings, knowledgeable underwriting and specialized product expertise, with cutting-edge technology and analytics to best meet our clients’ risk management needs. Leveraging the broad licensing of our parent, Sompo Holdings, Inc., our clients have direct access to our dedicated team of agricultural experts who deliver tailored solutions for their unique exposures. Please visit: https://www.sompo-intl.com/insurance/products/agriculture/ for additional information.
InVivo Group, a national union of agricultural cooperatives, brings together 201 member cooperatives representing more than half of all farmers in France. Its activities revolve around three fields of expertise: Bioline by InVivo (agriculture), InVivo Retail (garden centres and food retail), and InVivo Wine (wine). From field to plate, InVivo meets the needs and expectations of farmers and consumers by pooling the strengths of its cooperatives, by responsible and sustainable investments in innovation, and by continuously renewing its offering of products and services. For additional information please visit https://www.invivo-group.com/en/agriculture.
About Sompo International
Sompo Global Risk Solutions is part of Sompo International Holdings Ltd. (Sompo International), a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. 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. For more information about Sompo International, please visit www.sompo-intl.com.
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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.