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Sompo’s profits drop by $228 million due to COVID-19


Bermuda-based insurer Sompo International Holdings Ltd.’s profits dropped by $228 million in the fiscal third quarter ended Dec. 31, 2020, due to an underwriting loss of $178 million from the COVID-19 pandemic and natural disasters, Reinsurance News reported. The insurer’s net premiums increased by $673 million to $3.29 billion.

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