Sompo Intl. joins ABIR with CRO Emmanuel Brulé added to Board

Sompo International Holdings Ltd., a global property and casualty re/insurer, has joined The Association of Bermuda Insurers and Reinsurers (ABIR), increasing the number of members to 32 carriers and four intermediaries.

The re/insurer’s entry was marked at a recent Q1 2024 board meeting held on the sidelines of the Bermuda Risk Summit.

Emmanuel Brulé, Sompo International’s Chief Risk Officer (CRO), will subsequently join the ABIR Board of Directors.

Founded in 1993, ABIR represents Bermuda’s major property and casualty international re/insurers doing business in 150 jurisdictions.

John Huff, Chief Executive Officer, ABIR, commented, “Communities and businesses in more than 150 jurisdictions benefit from the protection and peace of mind provided by ABIR member companies, who lead the world in managing large, complex risks, such as climate, mortgage, political instability and cyber.

“Sompo, as a global re/insurer, exemplifies the Bermuda value proposition and is a welcome addition to the ABIR membership. Their support will help ABIR build on our public policy, education and advocacy work that has never been more important.”

For the full-year 2022, Sompo International wrote $15.6 billion of the group’s total $35 billion gross premium. The firm has financial strength ratings of A+ (Superior) from A.M. Best and A+ (Strong) from Standard & Poor’s on its Commercial P&C operating subsidiaries.

Pina Albo, Chair, ABIR and CEO, Hamilton, commented, “Sompo underscores the truly global nature of Bermuda’s re/insurance marketplace and I am pleased to welcome the company to ABIR. Emmanuel will add to the strength of the ABIR Board and bring a perspective founded on deep experience of industry leadership in multiple jurisdictions.”

Brulé was appointed as CRO of Sompo International in July 2023. Before that, he was the CEO of Sanlam Pan Africa General Insurance.

Brulé added, “Sompo has achieved sustained growth since incorporating in Bermuda many years ago. With an internationally recognised regulator and exceptional industry talent base, Bermuda has proven to be an excellent jurisdiction from which to operate our international business.

“As a company that places a high value on relationships, we are happy to strengthen our partnership with the Bermuda re/insurance industry by joining ABIR, an organization that brings together many of our trading partners and has made a great contribution to Bermuda’s reputation as the ‘World’s Risk Capital’.”

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