Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018

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Sompo overseas unit takes $626mn net HIM hit

  • Charlie Thomas 14 February 2018
  • Sompo's overseas insurance business has reported a near-threefold rise in adjusted operating profit for the nine months to 31 December after a tax boost at newly acquired Sompo International.

    Adjusted operating profit for the overseas division came in at 39.8bn yen ($370mn) for the period, up from 13.8bn yen a year earlier.

    The division, which also includes Sompo Canopius, incurred net losses of 67.6bn yen from hurricanes Harvey, Irma and Maria but gained a one-off boost from US President Donald...

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