Sompo

Sompo International posts Q1 CR of 95.4%; Group takes $47mn Covid hit

The adjusted profit for Sompo International slipped nearly a third in the most recent quarter, standing at $49mn compared to $82mn in the same period last year.

Sompo invests $500mn in data analytics firm Palantir

Japanese insurance giant Sompo has invested $500mn into Palantir Technologies, the Peter Thiel-founded data analytics firm that is thought to be preparing an initial public offering.

Sompo’s domestic reinsurance recoveries down in 2019

The domestic P&C arm of Japanese insurance giant Sompo saw its reinsurance recoveries fall over 7 percent year-on-year in 2019, despite another bruising year of natural catastrophes in the form of typhoons Faxai and Hagibis.

Sompo shares surge as Asia-Pacific markets slip

Sompo Holdings saw its shares climb over 7 percent on Thursday in response to the carrier’s share buyback announcement and strong FY results despite Asia stocks falling.

Sompo International FY19 u/w profit increase six-fold; Group Covid-19 loss estimate $408mn

Sompo International has reported a full year 2019 underwriting income of $143mn, up from $24mn in the prior year period, with the carrier’s parent Sompo Holding facing overall Covid-19 losses as high as $408.4mn.

Asia P&C stocks gain on Chinese recovery data; FTSE points higher

Shares in Asia Pacific edged higher on Friday with investors buoyed by fresh indications that China’s economy could be recovering from the coronavirus-driven downtown despite rising trade tensions between the US and China.

Asia-Pacific stocks rally despite Chinese growth figures

Asia-Pacific (re)insurance stocks rallied on Friday despite damning Chinese growth figures which highlighted a historic contraction in the world’s second-largest economy.

End of an on-off relationship?

Sompo International’s announcement yesterday that it will exit Lloyd’s at the end of the year is the latest chapter in a sometimes uneasy relationship between its chairman John Charman and One Lime Street. The Insurer charts the highs and the lows…

Asia-Pacific equities rally after historic surge on Wall Street

Asia-Pacific stocks rallied overnight after a historic surge in US and European equities as leaders in Washington agreed on a $2tn package to soften the US economic blow from coronavirus.

Australia leads APAC sell-off as Wall Street futures plunge

Asia-Pacific markets fell sharply on Monday with Australian stocks leading the sell-off as investors reacted to an altered global business landscape characterised by lockdowns and closures intended to slow the spreading coronavirus.

Japanese insurance stocks trade down on coronavirus crisis

Stocks in Japan’s three leading property insurers saw sharp declines on Tuesday as Asian markets slipped following an overnight plunge on Wall Street and an earlier decline in Europe as fears of the economic impact from the coronavirus outbreak spread.

Payback expectation to test relationship-driven Japanese renewal

All parties in the Japanese wind renewal are working to address a significant mismatch between the 50-80 percent rate increases reinsurers have been initially seeking from cedants that are unlikely to countenance paying 50+ percent more for cover at 1 April.

Sompo International 9M profits jump as top line grows 13%

Sompo International has posted a nine month adjusted profit of $277mn, a near 80 percent jump from the $154mn it reported in the prior year period.

Sompo sets sights on global top 10 through “large-scale” M&A

Japanese giant Sompo Holdings plans to secure its place as a top 10 global insurance player through “drastic” growth, citing “large-scale” acquisitions and increasing its overseas activity.

Hagibis may push Japan’s big 3 beyond cat loss budgets: AM Best

The strong reinsurance programmes of Japan’s biggest three insurers mean they are not likely to report an overall loss for the current fiscal year despite large typhoon losses exceeding catastrophe loss budgets, AM Best believes.

Sompo continues share buyback with $11mn August repurchase

Japanese giant Sompo Holdings has spent over 11.7bn yen ($11.04mn) buying back issued shares over August.

Sompo International top line swells 15.2% in Q1

Sompo International, a subsidiary of Japanese giant Sompo Holdings, booked an increase of $332mn in its Q1 2019 gross written premiums to $2.57bn, compared to the same period last year, pointing towards steadily increasing rates as the main driver.

Blue Capital to run off listed ILS fund

Sompo-owned Blue Capital has announced that its New York and Bermuda listed vehicle will go into run-off and return capital to shareholders as it winds up its operations.

Sompo International restructures commercial P&C as global insurance CEO Kuhn departs

Sompo International has named Michael Chang, Christopher Sparro and Graham Evans co-leaders of the carrier’s commercial property and casualty (P&C) insurance division, as John Kuhn, CUO of the P&C unit and CEO of global insurance, steps down after six and a half years.