Bermuda-based specialty (re)insurer Sompo International Holdings has named Udo Pützer as head of financial lines insurance as part of its European platform in Germany.

Pützer will be based in the company’s Düsseldorf office and will introduce a range of management liability, professional indemnity, and financial institutions products to the German insurance market.

He will also work in conjunction with the company’s specialised M&A insurance underwriting team in Barcelona to offer transaction risk products. Pützer will report to Mathieu Borneuf, senior vice president, Continental European Professional Liability Insurance.

Additonally, Pützer will also assume the role of underwriting manager with responsibility for the company’s Düsseldorf-based underwriting team, which currently offers a suite of property, casualty and marine insurance products.

Pützer brings more than 15 years professional lines underwriting experience, most recently served as head of field underwriting, financial lines at Amlin Insurance SE in Cologne, Germany.

Thomas Mannsdorfer, executive vice president and head of European specialty underwriting at Sompo International, commented: “As a seasoned underwriting leader with extensive underwriting and operational experience in the German insurance market, Udo is a welcome addition as we broaden our professional lines focus in the European Economic Area (EEA). Udo’s presence in Germany will enable us to quickly extend Sompo International’s growing portfolio and presence in this specialized market.”

Thomas Brazil, CEO of SI Insurance (Europe), SA, added: “Europe is a strategic market for Sompo and we continue to expand our product offerings to our EEA clients. New professional lines capabilities in Germany complement our property, casualty and marine offerings and further enhance SI Insurance (Europe)’s ability to expand our footprint in this region.”