Sompo agrees to acquire Fator Seguradora in Brazil

Sompo International's wholly owned Brazilian subsidiary, Sompo, has signed an statement to get section adjacent Fator Seguradora.

The worth of the transaction has not been disclosed and the woody remains taxable to support by the applicable regulatory authorities.

According to the translated mentation of the announcement, the acquisition is portion of Sompo's strategy to grow its beingness successful the firm security marketplace by widening its portfolio of specialised solutions.

The institution said the woody volition fortify its presumption successful concern lines successful which Fator Seguradora has consolidated operations and recognised expertise, peculiarly property, warrant and fiscal lines.

It said completion of the transaction is expected to further reenforce its marketplace position.

Until the regulatory support process is finished, some companies' operations volition stay unchanged.

Sompo and Fator Seguradora volition proceed to run independently, and their commercialized teams volition support mean engagement with brokers and customers to guarantee continuity and stableness of service.

Sompo Brazil CEO Alfredo Lalia Neto said: "The cognition is afloat aligned with our sustainable maturation strategy and the ambition to grow our relevance successful method segments with higher added value.

"Fator Seguradora has a accordant and recognised show successful lines specified arsenic warrant and fiscal lines, segments that correspond important maturation opportunities for Sompo."

In April this year, Sompo and UK integer centrifugal insurer Zego entered a concern to analyse and physique telematics-based security products for Japan.

The concern is intended to bring unneurotic the Japanese group's security acquisition and marketplace knowing with Zego's exertion level and AI capabilities.

Last year, Sompo Holdings reorganised its concern into 2 planetary segments – Sompo Property and Casualty (re)insurance (Sompo P&C) and Sompo Wellbeing.

Sompo P&C brought unneurotic the security and reinsurance operations of Sompo International Holdings with its commercialized and user spot and casualty (P&C) operations successful Japan.

Sompo Group originated successful Japan and has been progressive successful the security marketplace for much than 138 years, with operations crossed 5 continents.

"Sompo agrees to get Fator Seguradora successful Brazil" was primitively created and published by Life Insurance International, a GlobalData owned brand.