Sompo International Launches New U.S. Middle Market Property Insurance Unit

Pembroke Parish, Bermuda (GLOBE NEWSWIRE) - Sompo International, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that its U.S. Insurance business has launched a new middle market property insurance product, offering ground up single carrier coverage to U.S. mid-size companies across a broad range of industries through its retail broker network. Mr. Patrick Mulhall joined Sompo International on May 8, 2017 to build and lead the new team, which includes Mr. James Berringer. Both Mr. Mulhall and Mr. Berringer are Senior Vice Presidents, reporting to Sompo International Executive Vice President of U.S. Commercial Property, Mr. Mark Maritzen. They are located in Sompo International’s New York and Chicago offices respectively.

Mr. Mulhall spent the past 15 years with Axis Capital, most recently as Executive Vice President in the Risk Management Property Unit. Prior to that, Mr. Mulhall held various underwriting and management roles at companies including Liberty Mutual, CNA and St. Paul Fire and Marine. He holds a Bachelor’s degree in Business Administration from Western Connecticut State University and a Chartered Property and Casualty Underwriter (CPCU) designation.

Mr. Berringer was most recently at Axis Capital where he was Senior Vice President since 2003, having played a key role in starting their U.S. Property unit. Prior to Axis, Mr. Berringer held various underwriting and management roles within CNA’s Risk Management Property unit. He holds a Bachelor of Science degree in Finance and an MBA, both from Northern Illinois University.

Mr. Maritzen commented, “The addition of a middle market property product is a natural complement to our U.S. Commercial Property book which focuses on large multi-national accounts across industries, including but not limited to manufacturing, warehousing and distribution, healthcare, education and transportation. With over 30 years each in the property market, Pat and Jim bring extensive underwriting experience and have developed longstanding relationships with key retail brokers. They are a welcome addition as we build out this new team with presence in key markets across the U.S.”

Christopher Sparro, CEO of U.S. Insurance, added “We are excited to integrate the new team into our U.S. Insurance platform as we continue to broaden our offerings and provide value added services to our clients. This new middle market product further complements Sompo International’s extensive property capabilities across geographies, risk size and exposures, and distribution channels, offering not only responsive underwriting and claims service, but also in-house loss control engineering services.

About Sompo International
Sompo International is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines and specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category), A (Strong) from Standard and Poor’s and A2 from Moody’s on our principal operating subsidiaries. Sompo International’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo International, Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Sompo International, please visit www.sompo-intl.com.

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