BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Sompo International Holdings Ltd. announced it will purchase Italian agriculture insurer A&A S.r.l.
The transaction is expected to close by March 2018, pending regulatory approvals, according to a statement issued by Pembroke, Bermuda-based Sompo on Thursday. The terms of the transaction were not disclosed in the statement, and a spokesperson could not be immediately reached for comment.
The A&A acquisition aligns with Sompo’s new initiative AgriSompo, a global platform to deliver agricultural risk management solutions tailored to local market needs, according to Sompo.
Sompo International plans to maintain A&A’s current staff, structure and management team, including Giovanni Giudici as chairman and Guido Passarini as chief administrative officer, according to the statement.
“A&A is an attractive addition to our AgriSompo platform, given the A&A team’s deep technical expertise and knowledge of agriculture insurance, and their significant market share built on long-term distribution relationships throughout Italy,” John Charman, Sompo International CEO and chairman, said in the statement. “The acquisition of A&A will greatly accelerate Sompo International’s presence in the Italian crop insurance market and provide us with unique opportunities to introduce new products and technologies in the Italian agri-business market.”
Mr. Charman and other Sompo executives will join A&A’s board of directors once the transaction is complete.
Tokyo-based parent company Sompo Holdings Inc. completed its purchase of Hamilton, Bermuda-based Endurance Specialty Holdings Ltd., for $6.3 billion in March 2017.
Tokyo-based Sompo Holdings Inc. said Tuesday that it has completed its $6.3 billion acquisition of Endurance Specialty Holdings Ltd.