Sompo International sells Sompo Seguros personal lines

Sompo International, a global provider of commercial and consumer property and casualty (re)insurance, announced that Brazil based Sompo Seguros S.A. has entered into a definitive agreement to spin off its consumer business into a new insurance subsidiary and sell the shares of the new company to HDI Seguros S.A. (“HDI”), a subsidiary of Germany based Talanx AG.

Sompo Seguros will now have the opportunity to leverage the market presence it already has in Brazil and reposition itself to seek out significant Commercial P&C insurance growth and profitability opportunities in this emerging market. This strategic change supports Sompo International’s goals of expanding in new and existing geographies, delivering a consistent market approach across all lines of business and strengthening the strategic alignment across Sompo International geographies globally.