Sompo gains approval to write primary insurance in Belgium and the Netherlands

Sompo, a global provider of commercial and consumer P&C re/insurance, has expanded its operations in Continental Europe with authorisation by regulatory authorities to write primary insurance locally in Belgium and the Netherlands.

Sompo’s commercial P&C insurance capabilities and product offerings in Continental Europe are further developed by this expansion. The insurer also operates in Germany, France, Spain, Italy and Switzerland.

Ralph Brand, President, Continental Europe Insurance commented: “Sompo has grown its presence significantly across Continental Europe in recent years and the authorisations to write primary insurance locally in Belgium and the Netherlands provide yet another milestone for our business.

“We know clients are increasingly looking for partners with local presence aligned with global expertise who can support them through all aspects of the many and often complex risks they face.”

He added: “We empower our local teams to work with our clients and brokers to offer a flexible, solutions-driven approach that creates the framework for long-term partnerships and success. I very much look forward to watching us develop opportunities in both these exciting markets.”

Recently Sompo reported increased gross premiums written, which reached $12.47 billion in the first nine months of the 2024 fiscal year (3Q FY2024).

This figure compares to the $542 million reported for the same period in 2023. The most recent figure was mainly driven by growth in Global Markets and Reinsurance.

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