Sompo International Introduces Transaction Risk Insurance in Europe
PEMBROKE, Bermuda, June 14, 2018 (GLOBE NEWSWIRE) -- Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company's European Specialty platform has introduced a new Transaction Risk insurance line of business, expanding its Professional Lines insurance offerings in Europe.
This new business targets parties on either side of a merger or acquisition transaction, providing coverage against losses arising from Warranties and Indemnities (W&I) breaches and other risks. The program targets public and private companies domiciled or conducting their core business throughout Europe. Primary and excess attachments are available for buyer-side W&I, seller-side W&I, seller-induced buyer-side W&I and tax liability insurance for European tax risks related to M&A transactions.
Mr. Thomas Mannsdorfer, Executive Vice President and Head of European Specialty Underwriting at Sompo International, commented, "Since the launch of Sompo International's European platform in March, we've focused on delivering market-leading management liability, professional indemnity, financial institutions and cyber liability products to clients across Europe. Our new M&A products expand these capabilities, further strengthening our ability to help companies manage the broad range of risks associated with their fiduciary and contractual responsibilities."
Mr. Richard Allen, Executive Vice President, Head of Professional Lines, London Market & Europe Insurance, added, "Backed by Sompo International's A+ rated underwriting capacity and with the flexibility to service accounts through both our London based and new European entities, the introduction of these additional professional lines products complement our growing portfolio. Thomas' in-depth knowledge in this area along with new underwriting talent recruited to our European Specialty team will enhance Sompo International's presence in this important market."
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 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 .
Phone: +1 441 278 0988
Information om Globenewswire
Følg pressemeddelelser fra Globenewswire
Skriv dig op her, og modtag pressemeddelelser på e-mail. Indtast din e-mail, klik på abonner, og følg instruktionerne i den udsendte e-mail.
Flere pressemeddelelser fra Globenewswire
Mohawk Industries, Inc.25.4.2019 22:16:38 CEST | Pressemeddelelse
Mohawk Industries Reports Q1 Results
BGRS; Relo Group, Inc.25.4.2019 17:57:12 CEST | Pressemeddelelse
BGRS Acquired by Relo Group, Inc.
Ascom Holding AG25.4.2019 14:02:07 CEST | Pressemeddelelse
Ascom adds ‘talk before walk’ wireless speech function to new release of Ascom teleCARE IP
Bombardier Inc.25.4.2019 12:01:30 CEST | Pressemeddelelse
Bombardier Provides Preliminary First Quarter 2019 Financial Results, Updates 2019 Guidance
Magna International Inc.24.4.2019 19:56:51 CEST | Pressemeddelelse
First Quarter 2019 Results Conference Call
Juniper Networks24.4.2019 09:01:39 CEST | Pressemeddelelse
Colruyt Group Selects Juniper Networks to Support its Digital Transformation
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter samt finde vores kontaktoplysninger.Besøg vores nyhedsrum