Sompo International Sells Run-off Business at Lloyd’s to Legacy Specialist RiverStone
Sompo International, the Bermuda-based provider of commercial and consumer property and casualty re/insurance, announced the sale of its Endurance at Lloyd’s (EAL) run-off business to RiverStone Holdings Ltd., the legacy specialist.
The deal completes the company’s previously communicated objective to consolidate its UK presence into one company market platform. Financial details of the deal were not disclosed.
Sompo Int’l to Exit Lloyd’s, Writing New Business from London Company Market Platform
“Since executing on our strategic decision in 2020 to consolidate our UK presence into one company market platform we have taken a measured and controlled approach to withdrawing from Lloyd’s to ensure minimal disruption to our brokers and clients,” commented Julian James, CEO, Global Markets, Commercial P&C, in a statement. “We’re pleased to enter this agreement with RiverStone International and are committed to making this transition as seamless as possible for our brokers and clients.”
Source: Sompo International
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