Sompo Group Acquires Aspen Insurance for Growth Strategies

Sompo International Holdings Ltd. has successfully acquired Aspen Insurance Holdings Ltd. for $3.5 billion, transitioning Aspen into a private entity. This strategic acquisition entailed purchasing all outstanding Class A ordinary shares, resulting in Aspen's delisting from the New York Stock Exchange. Aspen now operates as a wholly owned subsidiary of Endurance Specialty Insurance Ltd., part of the Sompo Group.

This acquisition aligns with Sompo Group's strategy to enhance growth across the United States and Europe. Integrating Aspen into Sompo is expected to bolster its global property and casualty (P&C) platform significantly. During this transition, Mark Cloutier, Aspen's former executive chairman and group CEO, will serve as an advisor to Sompo, providing valuable insights.

Mikio Okumura, CEO of Sompo Group, emphasized that this acquisition is crucial for advancing the company's growth goals and capital deployment strategies. James Shea, CEO of Sompo P&C, noted that Aspen's inclusion will strengthen Sompo's reinsurance and insurance operations, especially in the UK, and support ongoing investments in technology and talent. Sarah Stanford, named CEO of Sompo UK, will oversee P&C operations in the UK, ensuring compliance and efficiency, pending regulatory approval.