Sompo International Holdings Ltd. launched a Luxembourg-headquartered commercial P&C subsidiary, SI Insurance (Europe) SA.
SI Insurance (Europe) will have branches in Belgium, France, Germany, Italy, Spain and the U.K. It will issue insurance policies and reinsurance treaties for new and renewal business in continental Europe.
European Economic Area policy issuance for multinational insurance clients will continue to be serviced from London via the U.K. branch of SI Insurance (Europe).
Sompo International said it will maintain its presence in the Lloyd's market, its London-based underwriting platform and its Zurich reinsurance operation.