Sompo

Quota share is less common in the medmal space, where layered and shared structures have been dominant.

The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.

Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.

Analysis of market conditions, reserves show that this might not lead to an overnight consolidation boom.

Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.

Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.

The lawsuit has been filed as sales talks with Sompo yielded a deal.

The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.

The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.

The all-cash deal values the Bermudian’s stock at a 36% premium.

This publication first reported deal talks last week.

The insurer has chosen a “take two” deal after buying Endurance, betting again on Bermuda.

This publication revealed yesterday that the two were in detailed takeover talks.

This publication revealed yesterday that Sompo is currently in negotiations with Aspen.

Sources said that detailed discussions have taken place, with a clear path to a deal.

The executive was previously head of excess casualty, North America.

This in turn gives carriers on a tower a little more liberty and less risk to optimize claim outcomes.

Conditions are coalescing for an uptick in carrier M&A after many subdued years.

The executive held senior roles at Allied World, Lockton and the Corporation of Lloyd’s.

The hire comes as the UK-based InsurTech continues its expansion plans in the US.

The carrier is also seeing growth opportunities across the West.

The Bermudian’s reserves will be on watch when its Japanese parent reports earnings.

David Bigley will also continue as head of property and catastrophe reinsurance.

The new platform includes over 400 workers’ compensation classes, including contractors, healthcare, hospitality, manufacturing and transportation.

Lamba joins as head of reinsurance, Canada, while Sheehan joins as senior vice president, head of North America accident and health reinsurance.

The executive will be responsible for the growth of the hospitality insurance portfolio and for providing service to current and prospective clients in this segment.

Sompo International has promoted Margaret Hyland to president of its North American reinsurance division. She replaces Steven Hanke, who is leaving for a “leading brokerage firm”, according to a statement.

Based in Boston, the executive will report to Sompo International CEO James Shea.

Dixon will report to North America CEO Christopher Sparro.

In her role as NA COO, Guyler-Alaniz will report to Leighton, but in her international responsibilities she will report to AgriSompo chairman and CEO Bob Haney.

Based in Boston, Willett will report to Jonathan Monks, Sompo’s EVP head of distribution, business development and client engagement for North America.

The storm is not expected to be a threat to the order of Jebi or Hagibis.

Based in North Carolina, the executive brings around two decades of P&C experience to the retail brokerage.

The platform will be launched with the support of listed energy company NextEra, with paper provided by its captive Palms Insurance.

The long-serving AIG executive has been on the boards of McGill and Partners and JLT since retiring.

Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.