PEMBROKE, Bermuda, March 20, 2020 (GLOBE NEWSWIRE) -- Sompo International Holdings Ltd. (“SIH”), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that, subject to applicable regulatory approval, Mr. Christopher Donelan, currently the Deputy CEO of Sompo International (SI) Reinsurance will assume the position of Chief Executive Officer of SI Reinsurance. The reinsurance business of SI represents approximately $2.4b of annual gross written premiums with locations in the United States, Bermuda, the United Kingdom, Switzerland and Singapore. Mr. Donelan will report to Mr. Christopher Gallagher, CEO of SI’s Commercial P&C business. Stephen Young, the current CEO of Reinsurance at SI has resigned from the company to pursue other interests.
Mr. Gallagher commented, “I am extremely pleased that Chris has assumed the role of CEO of SI’s Reinsurance business. His extensive industry experience, strong relationships with our major clients, distribution partners and employees, historical knowledge of our company combined with a proven track record of building profitable and meaningful reinsurance portfolios qualifies him as the ideal executive to lead our Reinsurance business. In addition to his role as CEO, Chris will be joining the SI Commercial P&C Executive Team. Finally, I would like to thank Stephen Young for his many contributions to SI over his 17-year tenure with the company and wish him the very best in his future endeavors.”
Mr. John Charman, Executive Chairman of SIH and CEO of Sompo Holdings Overseas Insurance and Reinsurance Business, added, “I am delighted that Chris has been appointed to this position. I’ve known and worked closely with Chris for almost 20 years and have complete confidence in his ability to lead this critically important segment of our global business. Chris is well known throughout our industry as an excellent underwriter and a decisive leader who has the proven ability to build profitable portfolios, attract and develop strong talent and drive strategic initiatives across a global platform. I look forward to continuing to work closely with him and the rest of the SI and Reinsurance leadership teams as we continue the transformation of Sompo International into a top 10 global insurer and reinsurer.”
Mr. Donelan commented, “I’m honored to accept the role of CEO of SI’s Reinsurance business having been a part of this team for over 6 years. Emerging from all the current market turmoil, I am convinced we have the opportunity to substantially increase the profile of our reinsurance platform to become an even more relevant and strategic, global partner for our cedants and broker partners. I look forward to the challenge and would like to thank Chris, John, and the SIH leadership team for giving me this opportunity.”
Prior to joining Sompo International in 2013, Mr. Donelan held senior reinsurance leadership roles at leading property and casualty carriers and has over 30 years of industry experience. Mr. Donelan holds an MBA from St. John’s University and holds both the Chartered Property Casualty Underwriter and Associate in Reinsurance designations.
About Sompo International
Sompo International Holdings Ltd. (Sompo International) is 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.
Contact
Cara Gallagher
Senior Vice President, Marketing Communications
Sompo International
P: 917-421-4973
E: Cagallagher@sompo-intl.com