Sompo Expands Presence in Asia Despite Shifting Economic Landscape

Sompo’s global expansion efforts remain unwavering, as the Bank of Japan discontinues negative interest rates, signaling a change in the financial environment. With operations spanning 28 countries, the insurance giant has experienced substantial growth in its commercial business insurance segment, witnessing premium escalation from US$9 billion in 2019 to approximately US$16 billion presently.

Keying in on the burgeoning Asian market, Sompo is strategically positioned to address the evolving risks such as cyber-attacks and natural disasters in the region. Singapore, known for its robust regulatory framework and abundance of skilled professionals, serves as a pivotal regional center overseeing operations across 12 Asian markets.

In a recent exclusive feature with the reputable Straits Times publication, Julian James, the CEO of Global Markets, and Paul O’Neill, the President of Commercial Lines APAC, shed light on the company’s steadfast commitment to capitalizing on opportunities within Asia‘s dynamic insurance sector while upholding a long-term vision for sustainable success.