Latest news with #Sompo
Yahoo
24-06-2025
- Business
- Yahoo
Sompoa names new CEO for Sompo Hong Kong
Sompo has appointed Alasdair Walker as the new CEO of Sompo Hong Kong, marking a leadership change in its commercial P&C (property and casualty) insurance business. Walker will take over from Li Sheung Kin, who is to retire. Li Sheung Kin has been with Sompo Hong Kong for 24 years, holding various leadership roles throughout his tenure. Li has served as CEO since 2016 and played a crucial role in enhancing the company's operations in the region. To ensure a smooth transition, he will remain with Sompo Hong Kong until the end of 2025. Alasdair Walker's appointment is subject to local regulatory and immigration approvals. He will focus on driving profitability and enhancing the capabilities of Sompo Hong Kong as a key commercial business hub in Asia Pacific. Walker joined Sompo in 2023, having held senior roles at major international carriers. His previous roles included positions in London, Johannesburg and Singapore, where he served as regional head of distribution. In his new role, he will report to Sompo Asia Pacific Insurance CEO and Sompo Japan Commercial Insurance deputy CEO Kenneth Reilly. Reilly stated: 'I want to extend my heartfelt thanks to SK for his years of dedication and significant contributions to Sompo. We wish him the very best in his future endeavours. 'I am also pleased to welcome Alasdair to the Hong Kong and Asia Pacific leadership teams. With 15 years of international insurance experience across three continents in both underwriting and distribution, Alasdair is perfectly placed to oversee and execute our strategic plans in this important region for our insurance business.' "Sompoa names new CEO for Sompo Hong Kong" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
24-06-2025
- Business
- Yahoo
Sompo announces leadership changes for its Hong Kong Commercial P&C Insurance business
Li Sheung Kin to retire as Chief Executive Officer, Sompo Hong Kong; Alasdair Walker appointed as successor Li Sheung Kin and Alasdair Walker HONG KONG, June 24, 2025 (GLOBE NEWSWIRE) -- Sompo, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced leadership changes to its Commercial P&C Insurance business in Hong Kong. Li Sheung Kin (S.K.) will retire from his role as Chief Executive Officer (CEO) of Sompo Insurance (Hong Kong) Co., Ltd. ('Sompo Hong Kong'). Mr Li has held several leadership roles during his 24-year career with Sompo Hong Kong. He was appointed CEO in 2016 and has been instrumental in strengthening Sompo's Hong Kong business. Mr Li will remain with Sompo Hong Kong until the end of 2025 to ensure a smooth and seamless transition. Alasdair Walker will succeed Mr Li as CEO of Sompo Hong Kong, subject to appropriate local regulatory and immigration approvals. In his new role, Mr Walker will be responsible for driving Sompo Hong Kong's profitability and capabilities as a key Commercial business hub in the Asia Pacific region. He will report into Kenneth Reilly, CEO, Insurance, Asia Pacific and Deputy CEO, Commercial Insurance, Sompo Japan. Mr Walker joined Sompo in 2023 from another major international carrier where he held positions in London, Johannesburg and Singapore, and was Regional Head of Distribution. Mr Reilly said: 'I want to extend my heartfelt thanks to S.K. for his years of dedication and significant contributions to Sompo. We wish him the very best in his future endeavors. I am also pleased to welcome Alasdair to the Hong Kong and Asia Pacific leadership teams. With 15 years of international insurance experience across three continents in both underwriting and distribution, Alasdair is perfectly placed to oversee and execute our strategic plans in this important region for our insurance business.' About Sompo We are Sompo, a global provider of commercial and consumer property, casualty, and specialty insurance and reinsurance. Building on the 135 years of innovation of our parent company, Sompo Holdings, Inc., Sompo employs approximately 9,500 people around the world who use their in-depth knowledge and expertise to help simplify and resolve your complex challenges. Because when you choose Sompo, you choose . 'Sompo' refers to the brand under which Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries, operates its global property and casualty (re)insurance businesses. Sompo International Holdings Ltd. is an indirect wholly-owned subsidiary of Sompo Holdings, Inc., one of the leading property and casualty groups in the world with excellent financial strength as evidenced by ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard & Poor's. Shares of Sompo Holdings, Inc. are listed on the Tokyo Stock Exchange. To learn more please follow us on LinkedIn or visit Sompo Contacts Candida Lee Vice President, Communications, Asia Pacific M: +65 8318 7805 E: calee@ Mike Jones Global Head of Media RelationsM: +44 7765 901899E: mijones@ A photo accompanying this announcement is available at in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
Sompo announces leadership changes for its Hong Kong Commercial P&C Insurance business
Li Sheung Kin to retire as Chief Executive Officer, Sompo Hong Kong; Alasdair Walker appointed as successor Li Sheung Kin and Alasdair Walker HONG KONG, June 24, 2025 (GLOBE NEWSWIRE) -- Sompo, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced leadership changes to its Commercial P&C Insurance business in Hong Kong. Li Sheung Kin (S.K.) will retire from his role as Chief Executive Officer (CEO) of Sompo Insurance (Hong Kong) Co., Ltd. ('Sompo Hong Kong'). Mr Li has held several leadership roles during his 24-year career with Sompo Hong Kong. He was appointed CEO in 2016 and has been instrumental in strengthening Sompo's Hong Kong business. Mr Li will remain with Sompo Hong Kong until the end of 2025 to ensure a smooth and seamless transition. Alasdair Walker will succeed Mr Li as CEO of Sompo Hong Kong, subject to appropriate local regulatory and immigration approvals. In his new role, Mr Walker will be responsible for driving Sompo Hong Kong's profitability and capabilities as a key Commercial business hub in the Asia Pacific region. He will report into Kenneth Reilly, CEO, Insurance, Asia Pacific and Deputy CEO, Commercial Insurance, Sompo Japan. Mr Walker joined Sompo in 2023 from another major international carrier where he held positions in London, Johannesburg and Singapore, and was Regional Head of Distribution. Mr Reilly said: 'I want to extend my heartfelt thanks to S.K. for his years of dedication and significant contributions to Sompo. We wish him the very best in his future endeavors. I am also pleased to welcome Alasdair to the Hong Kong and Asia Pacific leadership teams. With 15 years of international insurance experience across three continents in both underwriting and distribution, Alasdair is perfectly placed to oversee and execute our strategic plans in this important region for our insurance business.' About Sompo We are Sompo, a global provider of commercial and consumer property, casualty, and specialty insurance and reinsurance. Building on the 135 years of innovation of our parent company, Sompo Holdings, Inc., Sompo employs approximately 9,500 people around the world who use their in-depth knowledge and expertise to help simplify and resolve your complex challenges. Because when you choose Sompo, you choose . 'Sompo' refers to the brand under which Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries, operates its global property and casualty (re)insurance businesses. Sompo International Holdings Ltd. is an indirect wholly-owned subsidiary of Sompo Holdings, Inc., one of the leading property and casualty groups in the world with excellent financial strength as evidenced by ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard & Poor's. Shares of Sompo Holdings, Inc. are listed on the Tokyo Stock Exchange. To learn more please follow us on LinkedIn or visit Sompo Contacts Candida Lee Vice President, Communications, Asia Pacific M: +65 8318 7805 E: calee@ Mike Jones Global Head of Media RelationsM: +44 7765 901899E: mijones@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
Sompo announces leadership changes for its Hong Kong Commercial P&C Insurance business
Li Sheung Kin to retire as Chief Executive Officer, Sompo Hong Kong; Alasdair Walker appointed as successor Li Sheung Kin and Alasdair Walker HONG KONG, June 24, 2025 (GLOBE NEWSWIRE) -- Sompo, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced leadership changes to its Commercial P&C Insurance business in Hong Kong. Li Sheung Kin (S.K.) will retire from his role as Chief Executive Officer (CEO) of Sompo Insurance (Hong Kong) Co., Ltd. ('Sompo Hong Kong'). Mr Li has held several leadership roles during his 24-year career with Sompo Hong Kong. He was appointed CEO in 2016 and has been instrumental in strengthening Sompo's Hong Kong business. Mr Li will remain with Sompo Hong Kong until the end of 2025 to ensure a smooth and seamless transition. Alasdair Walker will succeed Mr Li as CEO of Sompo Hong Kong, subject to appropriate local regulatory and immigration approvals. In his new role, Mr Walker will be responsible for driving Sompo Hong Kong's profitability and capabilities as a key Commercial business hub in the Asia Pacific region. He will report into Kenneth Reilly, CEO, Insurance, Asia Pacific and Deputy CEO, Commercial Insurance, Sompo Japan. Mr Walker joined Sompo in 2023 from another major international carrier where he held positions in London, Johannesburg and Singapore, and was Regional Head of Distribution. Mr Reilly said: 'I want to extend my heartfelt thanks to S.K. for his years of dedication and significant contributions to Sompo. We wish him the very best in his future endeavors. I am also pleased to welcome Alasdair to the Hong Kong and Asia Pacific leadership teams. With 15 years of international insurance experience across three continents in both underwriting and distribution, Alasdair is perfectly placed to oversee and execute our strategic plans in this important region for our insurance business.' About Sompo We are Sompo, a global provider of commercial and consumer property, casualty, and specialty insurance and reinsurance. Building on the 135 years of innovation of our parent company, Sompo Holdings, Inc., Sompo employs approximately 9,500 people around the world who use their in-depth knowledge and expertise to help simplify and resolve your complex challenges. Because when you choose Sompo, you choose . 'Sompo' refers to the brand under which Sompo International Holdings Ltd., a Bermuda-based holding company, together with its consolidated subsidiaries, operates its global property and casualty (re)insurance businesses. Sompo International Holdings Ltd. is an indirect wholly-owned subsidiary of Sompo Holdings, Inc., one of the leading property and casualty groups in the world with excellent financial strength as evidenced by ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard & Poor's. Shares of Sompo Holdings, Inc. are listed on the Tokyo Stock Exchange. To learn more please follow us on LinkedIn or visit Sompo Contacts Candida Lee Vice President, Communications, Asia Pacific M: +65 8318 7805 E: calee@ Mike Jones Global Head of Media RelationsM: +44 7765 901899E: mijones@ A photo accompanying this announcement is available at in to access your portfolio
Japan Times
21-05-2025
- Automotive
- Japan Times
All three major Japanese nonlife insurers log record net profits
All three major Japanese nonlife insurance companies posted record consolidated net profits for the second straight year in fiscal 2024, which ended in March, driven by gains from the sale of cross-held shares, according to their earnings reports. Net profit went up some 1.5 times to ¥1,055.2 billion at Tokio Marine Holdings, about 1.9 times to ¥691.6 billion at MS&AD Insurance Group Holdings and 1.7% to ¥422.9 billion at Sompo Holdings. The companies plan to sell all of their cross-shareholdings, which are said to have become a hotbed of improper business practices, after fraudulent advance adjustments of premium rates for corporations were found. For fiscal 2024, gains from the sale of cross-shareholdings reached ¥822.1 billion at Tokio Marine, ¥530.6 billion at MS&AD and ¥298.6 billion at Sompo Holdings. Net premium income increased at all the companies, reflecting hikes of car and fire insurance premium rates. The yen's weakening also helped their overseas operations. Still, automobile insurance products are facing headwinds due to an increase in repair costs amid inflation. "We will consider reviewing premium rates before January, the month they are revised annually," Tokio Marine Group Chief Financial Officer Kenji Okada said during a news conference Tuesday. For fiscal 2025, net premium income is forecast to rise at the three firms, while net profit is predicted to shrink, due to decreases in their gains from the sale of cross-shareholdings.
