SOMPO ACQUIRES US CROP AND AVIATION INSURANCE BUSINESSES

Bermudian re/insurer Sompo International has formed crop insurer AgriSompo North America, having closed the acquisition of Diversified Crop Insurance Services from CGB Enterprises and merging it with ARMtech, its existing US federally sponsored multi-peril crop insurance business. With more than $2bn of gross written premiums, AgriSompo will be one of the largest crop insurance providers in the US and globally, Sompo said. Meanwhile, Sompo has acquired W Brown & Associates Insurance Services, the US provider of aviation insurance products and services for both airborne and ground-based exposures. W Brown has served as a managing general underwriter for Sompo since 2016 and will become a wholly owned subsidiary complementing the group’s broader suite of aviation re/insurance products.