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Sompo International Holdings Ltd. has formed a casualty facultative reinsurance operation, Pembroke, Bermuda-based Sompo announced Tuesday.
The new operation will be led by Dave Adams, said Sompo in a statement. Mr. Adams will join Sompo International Reinsurance this week as executive vice president, specialty/facultative reinsurance team leader. He most recently served as executive vice president and team leader, specialty underwriting at Maiden Re Insurance Services LLC.
Mr. Adams will report to Tracy Thomson, executive vice president, head of Americas casualty. Mr. Adams and his team will be based in the Philadelphia area.
“With specialized product offerings in commercial auto and workers compensation that serve the needs of a niche market, the team will expand Sompo’s profile in the facultative reinsurance market,” said Sompo in the statement.
Sompo International Holdings Ltd. announced it will purchase Italian agriculture insurer A&A S.r.l.