Access the most up-to-date content on SOMPO

Taiwan – August 23, 2022 – SOMPO Taiwan Brokers Co. Ltd. (hereinafter referred to as “STB”), a SOMPO Group company located in Taiwan, has been subject to a cyber attack.

Upon learning of the incident, STB immediately took necessary measures, such as shutting down the network to prevent further risks and filing reports to local government agencies, investigative authorities, and broker associations.

Based on the investigation so far, we can confirm that there is no indication of a breach of any customer information nor confidential data held by STB.

We are continuing our investigation with the help of external specialized organizations to determine the extent of the attack. The attack was limited to STB and did not affect any other company in the Group.

Our Group has been implementing information security measures from before; and will continue to take further steps to protect customer information and other confidential data. We will continue to take appropriate measures in cooperation with corresponding authorities and external specialized organizations.

###

Media Contact

Candida Lee
Marketing & Communications Manager, APAC
Sompo Holdings (Asia) Pte. Ltd.
Candida.Lee@sompo-asia.com

PEMBROKE, Bermuda – March 7, 2022 -- Sompo International Holdings Ltd., a leading global provider of commercial and consumer property and casualty (re)insurance, announced today a strategic reorganization of its Insurance business to best prepare the business for expansion and sustainable growth as a market leading insurance and reinsurance organization.

This new structure will ensure a consistent market approach and improve the ease of doing business globally with Sompo while leveraging the underwriting acumen, market expertise, consistency of appetite and focus on customer service that the organization has always prioritized.

The following changes will be made effective April 4^th to better support Sompo International’s insurance organization through the next phase of growth:

• Michael Chang has been named Global Head of Customer and Distribution Management.  In his new role Michael will expand on our strong customer focus and global key relationships and will report to James Shea, CEO, Sompo International.
• Julian James will oversee the newly named EMEA (Europe, Middle East, Africa) Region in addition to Commercial P&C oversight in Asia and Latin America and will continue to report to Chris Gallagher.
• Daniel Neo will lead our Asia Pacific Region for all P&C Commercial and Consumer Insurance in the region and will report to James Shea.
• Chris Sparro will oversee our newly created North America Region (“Sompo North America”) which will include all P&C Insurance in the U.S., Canada, Mexico and Bermuda regions and will continue to report to Chris Gallagher.

Sompo International CEO James Shea commented, “As part of a very large P&C business with over 130 years of history, Sompo International has become a stronger, dynamic and more relevant market presence in our industry. Our leadership team is committed to investing in the best talent and tools to meet the strategic goals of the business and successfully enter new markets while helping to drive our brand recognition around the world. Our priorities remain the same- we will lead with our core values and our customers and trading partners will be at the center of everything we do.”

###

About Sompo International

“Sompo International” refers to Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries. Sompo International is a leading global provider of commercial and consumer property and casualty (re)insurance. Sompo International Holdings, Ltd. is an indirect wholly owned subsidiary of Sompo Holdings, Inc. (“Sompo Holdings”).  With approximately 75,000 employees total worldwide, entities in over 46 countries and over $36B in GPW, Sompo Holdings is one of the leading property and casualty insurance groups in the world.  Sompo Holdings maintains 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 its principal operating subsidiaries.  For more information about Sompo International, follow us on Linked In or please visit www.sompo-intl.com.

Contact
Sompo International
Cara Gallagher
SVP, Marketing & Communications
Phone: + 1 917 421 4973
Email: cagallagher@sompo-intl.com

Hong Kong – December 31, 2021 – Sompo Insurance Hong Kong Co., Ltd. (“SOMPO") and Asia Insurance Company Limited (“Asia Insurance”) will enter into a strategic partnership to further develop medical insurance business in the Hong Kong market on January 1, 2022.

SOMPO continues to be at the forefront of service to provide the best solutions to customers at any time. Backed by Asia Insurance’s healthcare underwriting expertise, the partnership will provide a one-stop service on policy and claims management for bringing the medical insurance services      to the next level.

Asia Insurance will also offer a broad range of personal medical insurance products and additional insurance plans, e.g. VHIS (Voluntary Health Insurance Scheme) for SOMPO’s customers, in order to offer a more comprehensive protection based on existing corporate insurance services.

Commenting on this strategic partnership, Mr. S.K. Li, Chief Executive Officer of SOMPO, said, "We are delighted to have successfully reached this collaboration with Asia Insurance. Through this co-operation, our company's strength in medical insurance services will be further enriched. At the same time, it can also fulfil the needs of Japanese customers who are developing businesses in Hong Kong. Bundling SOMPO’s bonding client relationship with Asia Insurance’s rich experience on providing healthcare management services through the claims service platform, it will be more conducive to expanding the Japanese customer base in the Hong Kong market, bringing more business opportunities for both companies and achieving a win-win situation.”

On the other side, Ms. Winnie Wong, CEO and Executive Director of Asia Insurance, said, "We are proud to partner with SOMPO, one of the best Japanese insurance companies with long history and strong customer proposition among Japanese companies in Hong Kong. Through this successful partnership, we will continue to provide reliable and professional medical insurance solutions to clients by leveraging our strong network partnerships among the local medical service providers, including CUHK Medical Centre.”

###

医療保険分野におけるAsia Insurance Co., Ltdとの業務提携について

Sompo Insurance (Hong Kong) Co., Ltd（以下「SOMPO（香港）」）は、医療保険分野における一層の商品内容、サービス向上を目的に、Asia Insurance Co., Ltd（以下「Asia社」）と、2022年1月1日に戦略的パートナーシップを締結いたします。

Asia社は契約締結から保険金請求までワンストップで対応できるサービスを有しており、Asia社と連携し、ワンランク上の医療保険サービスを提供してまいります。また、Asia社は様々な医療保険のラインアップを有しており、SOMPO（香港）のお客様に対し、より包括的な保険カバーを提供いたします。

Asia社との戦略的パートナーシップ締結に際し、SOMPO（香港）Chief Executive OfficerであるS.K. Li氏は、下記の通りコメントしています。

「この度Asia社との戦略的パートナーシップ締結が完了したことをうれしく思います。Asia社との提携を通じ、医療保険分野での競争力を一層強化するとともに、香港へ進出している日系企業の皆様のニーズにお応えできるものと考えております。Asia社が有するヘルスケアサービスにおける知見と保険金請求プラットフォームに加え、SOMPOの顧客基盤を活用し、ビジネス拡大により両社がWin-Winとなることを期待しています。」

また、Asia社Chief Executive OfficerでExecutive DirectorのWinnie Wong氏は、下記のように述べています。

「香港での日系マーケットにおいて長い歴史を有し、日系企業から高い評価を受けているSOMPO（香港）とのパートナーシップを誇りに思います。本パートナーシップを通じ、CUHKメディカルセンターなど、医療サービスのローカルネットワークも活用しながら、信頼のできる医療保険サービスを提供してまいります。」

###

Singapore – 28 September 2021 – Sompo Holdings (Asia) Pte. Ltd. (Sompo Asia) announced today its US$50M (~AU$68M) strategic investment in Cover Genius, the leading insurtech firm and embedded insurance specialist that enables the world’s largest digital companies to offer any line of insurance or warranty directly to global customers with a single API call. 

The ~AU$100M Series C round will bolster Cover Genius’ global expansion and further Sompo Group's digital distribution channel in the embedded insurance market, enabling the company to offer tailored solutions to its customers by leveraging XCover, Cover Genius’ award-winning global insurance and warranty distribution platform.

The round comprised primary and secondary capital, and was supported by globally distinguished fintech investor, G Squared, as well as Cover Genius’ early backers, King River Capital, Marinya Capital and Regal Funds Management. 

Cover Genius partners with the world’s largest digital companies including Booking Holdings, Skyscanner, Ola, Intuit, Shopee and several other leading brands to distribute personalized insurance in any country, language and currency with a single API call. In addition, with licenses in all 50 US states and in more than 60 countries, Cover Genius is able to offer global capabilities to multiple industries, including property insurance for renters, landlords, homeowners and corporates, fintech and bank insurance programs, solutions for retailers, gig contractors, logistics platforms, cyber security companies and online travel agencies, rental car aggregator and airlines.

Through existing projects, Sompo Asia has seen vast potential in Cover Genius’ global capabilities, backed by its BrightWrite data analytics framework that helps partners optimize toward any goal.

“We had worked with Cover Genius on some projects and were very impressed by the organization and their global capabilities. In addition, we are very excited about the future of embedded insurance. I believe the company is uniquely positioned to excel in this fast-developing market,” said Daniel Neo, Chief Executive Officer of Sompo Asia. “At Sompo Group, we share common values with Cover Genius. We hope that through this investment, we can work together to realize digital innovations and bring delight to our customers.”

Cover Genius’ global distribution platform and its API for end-to-end claims management, XClaim, allows partners to tap into digital distribution at a scalable global level. Combining SOMPO’s underwriting capabilities with Cover Genius' licensing and technology will create a compelling leadership position in the fast-growing embedded insurance market. The partnership will kick off in Sompo Group's 14 markets across Asia before expanding to its global network, advancing the Group's digital transformation and agility.

“We are eager to collaborate with a global partner, like the Sompo Group, that believes in the power of embedded insurance and its ability to offer new lines of protection to customers around the world,” said Angus McDonald, CEO and Co-founder of Cover Genius. “This funding will enable us to scale our current offerings and continue our rapid growth as we enter into new markets with innovative solutions for embedded protection.”

The Sompo Group has a global mission to promote a “Theme Park for Security, Health and Wellbeing” for their customers. This strategic investment will propel the Sompo Retail business to be even more sustainable and competitive, offering customized solutions that cater to the wellbeing of all stakeholders, beyond insurance.

###

Media Contact

Candida Lee
Branding, Communications & CX Lead, Asia Pacific
Sompo Holdings (Asia) Pte. Ltd.
Candida.Lee@sompo-asia.com 

About Sompo Holdings (Asia) Pte. Ltd.

Based in Singapore, Sompo Holdings (Asia) Pte. Ltd., is the regional headquarters for our Asia Pacific entities, except Japan, and is part of Sompo International Retail Platform. Collectively, the companies are under the global extension of the Sompo Holdings Group (Sompo Group) headquartered in Tokyo, Japan. With more than 70 years of trusted presence in Asia, our business spreads across 14 markets with over 4,500 employees in the region.

As a leading non-life insurance company globally, we have forged strategic partnerships to access a wider network of resources and distribution to provide the best solutions for our customers, while keeping up with the evolving trends of digitalization and innovation. The Sompo Group strives to contribute to the security, health and wellbeing of our stakeholders, customers, and society by providing more than just insurance. The Group operates its overseas business in 28 countries and regions worldwide, including the Americas, Europe, Middle East, Africa, Asia, and Oceania.

THAILAND, 17 June 2021 – SOMPO Insurance Thailand Pcl. (CEO: Ms. Chayanna Siripirom (hereinafter referred to as “SOMPO Thailand”)), a subsidiary of SOMPO Holdings, Inc. (Group CEO & Managing Director: Mr. Kengo Sakurada (hereinafter referred to as SOMPO Holdings)), cooperates with Marubeni Corporation (hereinafter referred as Marubeni) and Productivity Plus Co., Ltd. (hereinafter referred as Productivity Plus), a subsidiary company of one of the largest sugar refining company in Thailand to launch the first parametric weather insurance program for sugar cane farmers in May, 2021.

1. Background & purpose

• A number of natural disasters stemming from global climate change, such as extreme drought and the resulting instability of farmers’ household earnings, have become major issues in Thailand in recent years. SOMPO Thailand has provided a parametric weather insurance program for rice farmers since 2010, and for Longan farmers since 2019.
• Currently, sugar cane has been exposed to drought risk. Productivity Plus has been investigating a way to launch an efficient support program, including utilization of insurance, cooperating with Marubeni, to enable stable growth for affiliated farmers and to realize stable and sustainable procurement of sugarcane.

 SOMPO Thailand has used its experience in parametric weather insurance for the rice and Longan   farmers  market to introduce a parametric weather insurance program for sugar cane farmers who   purchase a specific  fertilizer from Productivity Plus. SOMPO Thailand combined local knowledge with   technical support from  AgriSompo, Sompo International’s (hereinafter referred to as SI) integrated   agriculture platform that delivers  both traditional and innovative crop insurance productivity tools to farmers, rangers, farm suppliers, insurers, and  a variety of other agribusinesses around the world.  　

2. Outline for parametric weather insurance program (Sugar cane)

• Target group: Affiliated sugar cane farmers who are purchasing specific fertilizer from
                        Productivity Plus.
• Target crop: Sugar cane
• Target area:  Chaiyaphum province
• Target risk: Drought during the key growing period
• Compensation: Compensation for drought that cumulative rainfall from GSMaP^※1 is
                            below climatological estimates
• Data provider: Remote Sensing Technology Center of JAPAN (RESTEC)^※2
• Insurance company: SOMPO Thailand is the lead underwriter.

※1 　Global Satellite Mapping of Precipitation (GSMaP)

           A real time satellite derived global rain fall map from Japan Aerospace Exploration  Agency (JAXA).

　　      ※2　 The Remote Sensing Technology Center of Japan (RESTEC)
                        Foundation providing research and development from satellite driven remote sensing data.

3．Future plan

SOMPO Thailand shall cooperate with Marubeni and Productivity Plus in an attempt to develop other areas in Thailand by giving support to stabilize household earnings and reduce drought risk for sugar cane farmers. Utilizing the global expertise of AgriSompo in agricultural insurance and risk management, SOMPO Thailand will support the development of agriculture, one of the most important industries in Thailand.

###