July 12, 2019
Bermuda based specialty (re)insurer Sompo International Holdings (SIH) has announced that Michael Chang, Graham Evans and Christopher Sparro will co-lead Sompo International’s Commercial Property and Casualty (“SI Commercial P&C”) Insurance business, effective immediately.
In their new roles, Chang, Evans and Sparro, in addition to Stephen Young, the CEO of Global Reinsurance, will report to Christopher Gallagher, the CEO of SI Commercial P&C. In line with this change, John Kuhn, the CEO and chief underwriting officer of SI Commercial P&C, has stepped down from his role.
Chang joined Sompo International in 2016 as the CEO of Global Risk Solutions and is based in New York. Evans joined Sompo International in 2013 as the CEO of the European Insurance business and is based in London. Additionally Sparro, who is based in New York, joined in 2016 as the CEO of North American Insurance.
Gallagher, CEO, commented: “This restructuring clearly demonstrates the continuing transformation of Sompo International’s commercial P&C insurance business. We have assembled a strong group of experienced and talented insurance and reinsurance underwriting leaders who are extremely capable of leading this organization going forward. I am confident that we are well positioned to continue to create value for our clients, distribution partners and other stakeholders and that the SI Commercial P&C business will become an even more meaningful contributor to the overall results of the Sompo Group. I would like to thank Jack for his contributions since joining the company and wish him the very best in his future endeavors.”
Nigel Frudd, CEO of SIH said: “Our industry is at a critical point as consolidation continues and pricing appears to be gaining favourable momentum. Sompo International has the leadership, resources and capabilities to take advantage of these opportunities and are committed to achieving significant growth organically, strategically by M&A and through global partnerships. The changes announced today highlight the depth of the talent which we believe will allow us to exceed our ambitious objectives.”