– BERMUDA, Pembroke – Sompo International Holdings Ltd. (TYO: 8630), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today announced the nomination of James Shea to succeed John Charman in his role of Executive Chairman of the Board of Directors, Sompo International Holdings Ltd. and CEO of Overseas Insurance and Reinsurance Business, Sompo Holdings, Inc., following his decision to retire from Sompo International in April 2022.
In addition, James Shea will be appointed CEO of Sompo International Holdings.
Sakurada-san said, “We believe Jim has the experience, vision, and confidence to build on John’s incredible record and take Sompo International to the next level. We look forward to his contribution to the overall vision and success of Sompo Holdings in this particularly challenging global business environment and his input on group-wide strategic decisions as a member of our Global Executive Committee.”
All of Mr. Shea’s appointments will be effective September 1, 2021, subject to regulatory approvals. He will report to Mr. Kengo Sakurada, Group CEO of Sompo Holdings Inc.
About James Shea
Mr. Shea will inherit the leadership of a segment that represents more than 30% of Sompo Holdings Group’s projected adjusted profit, employs approximately 6,600 people in over 29 countries and regions, and more than $12 billion in gross premiums. The segment includes SI’s Commercial Property and Casualty operations led by CEO Chris Gallagher, and SI’s Retail platform, led by CEO Katsuyuki Tajiri.
Mr. Shea has over 25 years of global insurance experience, most recently serving as the CEO of Commercial Insurance for Zurich Insurance Group and as a member of their Executive Committee based in Zurich, Switzerland. Before his role with Zurich Insurance, Jim spent nearly 20 years at AIG in a variety of underwriting and leadership roles in New York, London, Paris, Tokyo, and Singapore.
Mr. Shea said, “I am delighted and honored to be joining Sompo at this historic point in time for the organization. Building on the extremely strong franchise, significant balance sheet, and the ability to transact the complex business of scale on a global basis is energizing and I am looking forward to working with the talented and highly regarded executives and colleagues at both Sompo Group and Sompo International. I would like to thank Sakurada-san and John for their confidence and support in providing me with this opportunity.”
About Sompo International
Sompo International Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. Sompo International is a company driven by its core values, a carrier that holds promise, trust, and the commitment to protect at the center of everything it does. We maintain 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 our principal operating subsidiaries.
For more information: https://www.sompo-intl.com
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