Multinational

The Challenge

A global sportswear and footwear retailer encountered implications when its insurance carrier of over primary carrier was looking to make significant changes in their primary D&O insurance.

The Solution

Sompo’s D&O underwriting and Multinational teams collaborated to develop a solution that met the client’s insurance requirements but also highlighted Sompo’s commitment to excellence and client-centricity. Working in tandem with the broker, Sompo carefully assessed the client’s needs and developed a tailored and locally compliant solution in 11 countries.

Erin McElwain, Underwriting Trainee, Commercial Management Liability, says:

“This program is a great example of the power of our expertise in professional lines insurance when combined with the capabilities available across our Multinational platform. Through a remarkable team effort involving our broker partner and Sompo team members from start to finish, we were able to meet the client’s needs and showcase Sompo’s market-differentiating Multinational capabilities in the process.”

Contacts:

Erin McElwain, Underwriting Trainee, Commercial Management Liability, [email protected]

KC Lee, AVP, Multinational Client Executive, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A global asset management firm needed primary D&O insurance in the US, Costa Rica and Australia. While the Sompo underwriter they approached for help specialized in Financial Institutions, it was his first time working on a multinational program.

The Solution

Sompo’s Financial Institutions and Multinational Teams collaborated closely to guide the underwriter through the process of efficiently creating a complaint solution for the client. Impressed by the seamless workflow and clear and consistent communication provided at each step of the process, the asset manager moved its multinational D&O program to Sompo.

Sean Dowd, Underwriting Trainee, Financial Institutions says:

“In addition to deeper insight into how our Multinational team enables Sompo’s ability to deliver our underwriting expertise to clients, this experience has given me the confidence to more earnestly pursue additional multinational opportunities. Our teamwork demonstrated what can be accomplished when we work as One Sompo, relying on each other with a shared goal of serving our client. It also created a seamless, positive experience for our broker and client.”

Contacts:

Sean Dowd, Underwriting Trainee, Financial Institutions, [email protected]

Jo Sueng, AVP, Multinational Client Executive, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

Sompo had one week to develop a compliant insurance solution to meet the complex needs of a global life sciences company.

The Solution

Sompo’s Life Sciences and Multinational team leveraged their experience and expertise to carefully assess the client’s needs and, in the process, identified gaps in the client’s existing insurance program. Drawing on the resources available across Sompo’s integrated Multinational platform, the Sompo team impressed the broker and client with a solution offering consistent, compliant insurance products and services tailored to the company’s specific needs.

Juan Carlos Rehder, SVP of Life Sciences, states:

“Teamwork and communication across our global network enabled us to quickly respond to and address this client’s needs in the face of a very tight deadline. Our ability to identify and address gaps in their existing insurance portfolio and tailor a solution that was in compliance with local regulations was key to our ability to gain the client’s trust and earn their business.”

Contacts:

Juan Carlos Rehder, SVP of Life Sciences, [email protected]

KC Lee, AVP, Multinational Client Executive, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A manufacturer of medical devices sought a companion umbrella policy encompassing General Liability, Employers’ Liability and Commercial Auto insurance in the U.S. and Canada. However, the client’s policy, placed with a third-party partner, prior to Sompo’s Canada branch being established, did not include Employers’ Liability and Auto insurance. Additionally, the original network partner did not offer Auto insurance for the client’s owned autos, which required Sompo’s Multinational team to devise a creative solution.

The Solution

Our Multinational Team leveraged Sompo’s recently expanded footprint in Canada, to find a solution. Instead of utilizing our third-party network partner, the new lead umbrella policy was placed with Sompo’s Canada branch. This enabled us to extend our insurance offering to address the client’s needs across all three lines of business under the existing policy wording.

Jean Kim, VP Excess Casualty, explains:

“Our Multinational Team did a great job helping us round out this client’s excess casualty program in Canada. They were very responsive to our needs, which helped us secure this new lead umbrella placement. Having a comprehensive in-house multinational capability in a key market like Canada truly helps Sompo compete and stand out in the North American market.”

Jean Kim, VP, US Excess Casualty, [email protected]

Eva Dipoce, AVP, Multinational Client Executive – Canada, [email protected]

Taslima Lazarus, AVP, Multinational Client Executive, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

The broker for a global technology manufacturer contacted Sompo for help developing a marine insurance solution in seven countries with only 15 days to respond.

The Solution

Working across our network of Sompo companies and hand-picked third-party partners around the world, our Multinational and Underwriting Teams worked diligently to meet the tight deadline. Impressed by the speed with which Sompo responded and the service they received, the broker expanded the program to include three additional countries.

Robert Sinnott, Sr. Underwriter, Ocean Marine notes:

“By working closely with Helene Harper and our broader Multinational network, we were able to provide a viable option for the insured, making ourselves and, in turn, the broker, stand out to the client. Helping the broker place this account has shown we are a competitor in this space and opened the door to future multinational placements with them.”

Robert Sinnott, Sr. Underwriter, Ocean Marine, [email protected]

Helene Harper, Multinational Client Coordinator, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A life sciences broker needed a multinational insurance carrier for a manufacturer of medical and surgical devices with operations in Germany and India. To complicate matters, the program did not come with the opportunity to include product liability insurance, which was already placed with another insurance carrier – a stipulation that deterred many insurance companies from considering the account. The broker turned to Sompo for a solution.

The Solution

Sompo’s Multinational team started with a monoline approach that included an analysis of the client’s Property exposures conducted by our Risk Control team.  Based on the risk assessment survey, Sompo tailored a program, eventually expanding it to include solutions to address their Property, General Liability, Commercial Auto, Umbrella and Casualty insurance needs in three countries.

Juan Carlos Rehder, SVP, Life Sciences at Sompo observes:

“This multinational program marks our third Life Science partnership with the broker, demonstrating our commitment to delivering consistent and compliant insurance solutions in key jurisdictions around the world. It’s also a great example of the value we can add when our Underwriting, Risk Control and Multinational teams collaborate to creatively develop solutions for our brokers and clients.”

Juan Carlos Rehder, SVP, Life Sciences, [email protected]

KC Lee, AVP, Multinational Client Executive, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A UK broker needed Property and Casualty insurance for its hospitality client with restaurants in the UK and the U.S. The broker approached Sompo’s London-based Middle Market team for help developing a compliant multinational program that met the client’s needs within specific premium parameters.

The Solution

Sompo’s London and U.S. Underwriting teams collaborated to develop a Controlled Master Program with local Casualty and Property policies in the U.S. Together, they vetted the policies to ensure compliance with regulations in each relevant jurisdiction and secured the appropriate level of Property and Casualty insurance to meet the client’s needs – all within the set premium targets for the global program.

Becky Harris, AVP, Middle Market Underwriter, UK Commercial Lines says:

“Our ability to put together a global program managed out of the UK with local policies in the U.S. is a testament to the flexibility of our Sompo Multinational Platform. This program, in particular, is a terrific example of how our Multinational Team coordinates seamlessly with our underwriters in London and the U.S. to deliver consistent and compliant insurance solutions for our brokers and clients.”

Becky Harris, AVP, Middle Market Underwriter – UK, [email protected]

Luke Testa, SVP, Casualty Underwriting and Product Lead – U.S., [email protected]

Kaela Roman, AVP, Property Underwriting and Product Specialist – U.S., [email protected]

Jaime Barnard, Multinational Operations Coordinator, [email protected]

Lauren Giammarco, Multinational Issuing Office Specialist, [email protected]

The Challenge

A large U.S. corporation with multiple subsidiaries around the world, had Brazilian operations located in the historic section of the city where they leased a 150-year-old building.  Unexpectedly, a water pipe at that location dislodged causing extensive water damage to the third-party tenants.  Tenants filed claims against the insured seeking damages.

The Solution

The Brazilian broker submitted the notice of claim to the Sompo Brazil office where the team quickly evaluated the claim for coverage. After a thorough investigation, the Sompo Brazil claim handler determined that the local policy contained an exclusion that precluded coverage. Though the local liability policy issued was considered “good local standard” in Brazil, it left a gap in the scope of insurance being provided.

The local claim handler promptly notified the Multinational Claims team regarding the local policy exclusion. Immediately, they looked to the master policy to see if it would respond to the loss. After reviewing the DIC/DIL endorsement, it was determined that the Master Policy applied to the water damage claim. The Multinational Claims team coordinated with claim professionals in both the home and foreign countries as well as local loss adjusters to bring resolution to the claim and pay the parent organization in the United States. The collaborative effort between the local and global claims handlers ensured a swift and coordinated response, demonstrating Sompo’s commitment to providing seamless insurance solutions across international borders.

According to James McDonald, AVP, Head of U.S. Primary Casualty Claims:

“This had been a challenging claim from submission to resolution. Our Multinational Claims Team was able to sort through the volume of documents submitted and engage our Latin American Office to assist in evaluating the liability and damages. Ian Brewer and our Multinational Claims professionals consistently communicated and followed up with all parties as they sought to bring the matter to conclusion.”

Linda Quartermain, VP, Multinational Claims, [email protected]

Ian Brewer, Sr. Casualty Claims Counsel, [email protected]

James McDonald, AVP, Head of U.S. Primary Casualty Claims, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

One of the world’s largest retailers needed a multinational insurance carrier who could administer a global excess Directors & Officers program through Canada. Compliance with local regulations would be especially challenging and important given that Excess D&O is not typically written on a global basis.

The Solution

After carefully assessing the client’s needs, Sompo’s Financial Lines underwriter joined with our Multinational team to create a solution to meet the client’s global insurance needs, with a focus on local market compliance and effective communication to simplify the process for the retailer and its broker partner. Leveraging resources available through our handpicked partner network, Sompo’s team tailored a custom master program with local policies to provide the retailer with consistent, compliant Excess D&O coverage in 9 countries.

From start to finish, the team took care to guide the broker and client throughout the process of rolling out a program to meet the retailer’s complex needs.

Robert Thom, VP of Financial Lines attests:

“This was a great team win that showcased our multinational capabilities on a flagship account for a trusted trading partner. The team delivered by taking a collaborative, white-glove approach to managing and servicing the client. This is a true differentiator for Sompo.”

Key contacts:

Robert Thom, VP, Financial Lines Insurance, [email protected] 

Eva Dipoce, AVP, Multinational Client Executive – Canada, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

When a manufacturer of semi-conductors and technology components was dissatisfied with its carrier’s servicing and handling of a cargo claim, their broker turned to Sompo as a potential replacement.

The Solution

Sompo’s Middle Market and Multinational teams worked closely with the broker to gain a deep understanding of the client’s needs and quickly develop a proposed solution. The fast responsive service and collaboration between the broker and our underwriting and Multinational teams resulted in a customized property and casualty insurance solution to meet the clients’ needs in five countries.

Middle Market Underwriter Blair Ketner notes:

“The synergy between the broker and our underwriting and Multinational teams played a crucial role in gaining this client’s trust. Sompo’s commitment to providing outstanding service at all stages of our relationship with the client and broker also helped to distinguish us in a competitive market.”

Key contacts:

Blair Ketner, Underwriter, Middle Market, [email protected]
Jo Seung, AVP, Multinational Client Executive [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

After reassessing its coverage needs, a global machinery company needed to implement local policies in multiple countries for the first time – a process that led them to look beyond their long-time insurance provider for a viable solution.

The Solution

The machinery company’s broker compiled a short list of potential new insurance providers with Multinational Ocean Marine experience for the client’s consideration, including Sompo. Sompo’s underwriting and Multinational teams collaborated to propose a comprehensive global insurance solution tailored to the client’s exposures worldwide. After a competitive bid and review process, Sompo was chosen because of our Multinational capabilities, understanding of the client’s business and responsive service.

Robert Sinnott, Senior Underwriter, U.S. Ocean Marine notes:

“Having an in-house Multinational team is a market differentiator that separates Sompo from our competitors. The ability to execute and manage local policies is a significant advantage. It will substantially benefit our business unit and bolster Sompo’s standing in the Ocean Marine insurance market.”

Key contacts: 

Robert Sinnott, Senior Underwriter, U.S. Ocean Marine, [email protected]

Helene Harper, Multinational Client Coordinator, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A global electronics manufacturer was looking for Marine insurance in three countries. However, the company’s broker did not specialize in this line of business, which presented several unique challenges during the placement process.

The Solution

Sompo’s Ocean Marine Underwriting and Multinational Client Service teams tailored a master program with local policies to simplify the process for both the broker and client. Their effective communication and collaboration resulted in Sompo securing the client’s multinational Marine program along with additional Property, Casualty, and Financial Lines business from the electronics manufacturer.

Jenna Shea, Underwriter, Ocean Marine notes:

“The convenience of having an in-house Multinational client coordinator designated to Ocean Marine business made the process of acquiring a local quote in the UK seamless. This case is a great example of Sompo’s Multinational capabilities are helping to make our Ocean Marine team stand out in the market.”

Jenna Shea, Underwriter, U.S. Ocean Marine Insurance, [email protected]

Helene Harper, Multinational Client Coordinator, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

The CFO of a gas production company based in Japan needed to quickly and effectively implement a controlled master cyber program in 9 countries, including the U.S., UK and across Continental Europe.

The Solution

The timely and seamless global collaboration between underwriters, issuing offices and Multinational team members in the U.S., Japan and EMEA, resulted in a new multi-country cyber controlled master program and an expanded relationship with the Sompo Japan client.

The Sompo Japan Underwriter explains how a unified “one Sompo” approach between colleagues from Sompo Japan and Sompo won the client’s trust, and in the process, an expanded relationship:

“The key contributor to this success was our ability to respond to the client’s request in a timely manner. We also had strong support from our leadership and, the assistance of Sompo’s Multinational Business team and Issuing Offices. The client’s CFO, who is the decision maker for this business, was satisfied with the quick response. This success underscores the importance of delivering supports and services to clients as “one Sompo” through our Multinational platform. Utilizing its collaborative approach, we can help develop client relationships to drive and accelerate our growth.”

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A large U.S. furniture retailer client had difficulty managing exposures at its Mexico manufacturing plant.

The Solution

Sompo’s Risk Control experts, working in conjunction with outside engineers  and in-house facilities managers, assessed the client’s Mexico factory and developed a tailored strategy for mitigating risks at the location. Following the guidance from Sompo’s Commercial Property engineering team, the client invested in implementing the recommended loss prevention strategies at its Mexico factory. After completing the renovations, the client expanded its relationship with Sompo to include a customized commercial property solution for its factories in Canada, Mexico, and the U.S. The Property team worked closely with the Multinational team in Mexico and the US to successfully implement the enhanced global program.

Mark Baroni, SVP, U.S. Commercial Property, observed:

“At Sompo, our Risk Control and Claims specialists are an integral part of the Underwriting process. They monitor emerging trends and risks to help us tailor customized risk management solutions to meet each client’s unique needs. In this case, the value-added advice and expertise of our risk control engineers enabled our client to minimize their loss potential and stay ahead of the unexpected at their Mexico location, which ultimately led to them expanding their relationship with us to include locations in two additional countries.”

Key Contacts:

Mark Baroni
SVP, U.S. Commercial Property

Taslima Lazarus
AVP, Multinational Client Executive

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

The professional lines underwriting team in Germany faced a short turnaround time until inception date. This was exacerbated by an 80% premium cession to the U.S. and the intricate nature of the invoicing procedures in the U.S., which deviated from standard protocols.

The Solution

Quick response times and support from all stakeholders involved proved that local policies could be issued in less than a week. The solution reflected a concerted effort and the seamless collaboration between several Sompo offices, including the U.S. producing office and the Germany underwriting team.

Rene Ehlen, VP Head of Financial Lines Insurance Germany, attests:

“The swift support of our U.S. colleagues and Multinational Team, in terms of the risk review, premium calculation for the U.S. exposure and Multinational program handling was essential to our ability to develop a tailored solution to meet the needs of this for this client in less than 6 days.”

Rene Ehlen
VP, Germany & Austria, Head of Financial Lines Insurance

Matt Hoare
SVP, Multinational for EMEA

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

The broker was looking for local placements in Mexico and the UK with a turnaround time of two weeks. Additionally, last-minute changes to the Exhibition Limit needed to be made.

The Solution

The Ocean Marine Insurance team approached the Multinational team with the prospect of securing the new client under challenging conditions. In Mexico and the UK, the Multinational team managed to achieve a quick turnaround time and impressed the broker with its proposed solution. At the last minute, the broker requested a change in the Exhibition Limit and our teams worked collectively to seamlessly implement the changes in the local policies.

Senior Underwriter for U.S. Ocean Marine, Robert Sinnott, confirms:

“This client ships ink and printing equipment, with a profile that fits our roisk appetite. Up until a few years ago, we wouldn’t have been able to compete due to the local placements. Now, thanks to our Multinational Team, we can compete with other carriers in these spaces. Ultimately, their hard work and expertise in this field won us the account. The speed at which they adapted to last minute change requests by brokers, showcased their prowess. With wins like these and the market expertise we have, we are getting on the radar of more and more brokers and they are coming to us as first options.”

Key Contact:
Robert Sinnott
Senior Underwriter, U.S. Ocean Marine

Helene Harper
Multinational Client Coordinator

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

In developing a tailored solution to meet the needs of a Japan-based tech manufacturer, Sompo faced a formidable challenge from a competitor with the advantage of a pre-existing shareholding relationship with the client.

The Solution

Driven by a collaborative effort between its global underwriting and multinational teams, Sompo implemented a strategic initiative to foster a long-term relationship with the client, including a series of tailored recommendations for helping the client to optimize its various risk management programs. By demonstrating Sompo’s commitment to focusing on the manufacturer’s specific needs and providing efficient and supportive service throughout the proposal process, the Sompo team successfully earned the client’s trust and business.

Manabu Hirasuka, VP, Tokyo Office observes:

“In this case, Sompo took a strategic approach to building a long-term relationship with the client by offering custom-tailored proposals that would improve the overall risk management program. We successfully gained the client’s trust thanks to the close collaboration between our team in Tokyo and our global multinational unit.”

Manabu Hirasuka
VP, Tokyo Office

Fernando Gonzalez
SVP, Multinational

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

In the face of intense competition and a complex set of requirements specified by a global logistics company, Sompo needed to quickly demonstrate its expertise and value in order to distinguish itself as a preferable insurer.

The Solution

The Sompo Japan and Multinational teams worked together to utilize a combination of global experience and local expertise to develop a customized solution to identify and address the client’s complex risk management challenges in 26 countries across Europe, Africa, North America and Asia – including the identification of local market exposures overlooked in the logistics firm’s existing insurance program.

Manabu Hirasuka, VP, Tokyo Office notes:

“By focusing on the client’s needs and leveraging our expertise to close gaps in their cyber insurance portfolio, Sompo developed a risk management program that satisfied the client’s needs while earning their trust. In addition to giving us the ability to make it easier for clients with complex insurance needs to access responsive insurance products and services in markets around the world, our collaboration with the multinational team helps to further differentiate Sompo in an increasingly competitive landscape.”

Contacts:
Manabu Hirasuka
VP, Tokyo Office
​

Fernando Gonzalez
SVP, Multinational
[email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

After being unsuccessful in a previous bidding process, Sompo had another opportunity to win the client.

The Solution

The Sompo team relied on its global cyber capabilities and knowledge of the local markets where the oil manufacturer needed insurance to tailor a program to meet the client’s specifications. An unwavering focus to understand the client’s exposures in local markets around the world and make it easier to access a consistent approach to accessing the products and services needed was key to earning the client’s confidence in Sompo’s solution.

Manabu Hirasuka, VP, Tokyo Office explains:

“One of Sompo’s greatest strengths lies in our ability to deeply understand each client’s needs and develop accessible and effective solutions to meet them. By focusing on building a relationship with this client and helping them gain confidence in their protection against cyber incidents, Sompo secured the client’s satisfaction with our overall approach and recommended solution and, in the process, earned their trust.”

Contacts:
Manabu Hirasuka
VP, Tokyo Office
​

Fernando Gonzalez
SVP, Multinational
[email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

In response to a change in their capital structure, a global automotive manufacturer offered Sompo an opportunity to develop and deliver risk management program in 9 countries across North America, South America, Europe, the UK and Asia.

The Solution

By attentively listening to the client, Sompo developed a deep understanding of the client’s needs and program requirements. Our team in Tokyo worked closely with our multinational specialists around the world to develop a tailored solution for the client’s global exposures.

Manabu Hirasuka, VP, Tokyo Office observed:

“This win provides an excellent example of Sompo’s inherent strength—the precise identification of clients’ needs—and the multinational team’s proficiency in swiftly implementing and proposing tailored programs by harnessing global resources to address local exposures. Our ability to collaborate efficiently and globally is key to our approach to developing tailored solutions to meet each client’s specific needs. It also helps to differentiate Sompo for our clients and brokers.”

Contacts:
Manabu Hirasuka
VP, Tokyo Office
​

Fernando Gonzalez
SVP, Multinational
[email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.

The Challenge

A Canada-based real estate proprietor needed locally compliant Insurance for three expansive shopping centers in North America. In addition to serving as traditional retail havens, all three properties are entertainment hubs offering a broad range of attractions. These unique requirements necessitated a customized property insurance solution.

The Solution

Sompo’s Canada-based underwriting team collaborated closely with the Toronto-based broker and our Multinational team to secure a strategic share of the substantial property risk in Canada and to meet local regulatory requirements for the two properties located in the United States.

John Hua, VP, Commercial Property Canada observes:

“The broker sought an alternative to the incumbent; however, the scarcity of market options posed a challenge. They turned to Sompo to find a match for the unique requirements, and ultimately, our Multinational Team’s expertise in issuing U.S. admitted paper enabled us to replace the incumbent carrier.”

Key Contacts:

John Hua, VP, Commercial Property Canada, [email protected] 

Eva Dipoce, AVP, Multinational Client Executive, [email protected]

Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.