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Sompo Japan Insurance to set up office in South Africa

March 7, 2014 - 6:00am

Sompo Japan Insurance Inc. will open a representative office in South Africa's Johannesburg city on April 1, reports The Japan News citing Jiji Press.

Officials said Sompo is the first Japan-based insurer operating in the nonlife segment to set up an office in the sub-Saharan region. Africa's nonlife insurance sector is estimated at 2.2 trillion Japanese yen ($21.5 billion), with South Africa making up for JPY 990 billion ($9.7 billion).

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