Bermuda-based specialty provider of property and casualty (re)insurance, Sompo International Holdings announced it has acquired W. Brown & Associates Insurance Services (W. Brown), a general aviation insurer.
W. Brown has been a managing general underwriter (MGU) for Sompo International (SI) since 2016. Following the acquisition W. Brown operations will remain intact and will become a wholly owned subsidiary of Sompo International.
Sompo states the acquisition also complements the broader suite of SI’s Aviation Insurance and Reinsurance products, that aligns with its long-term growth strategy.
Chris Sparro, CEO, U.S. Insurance, Sompo International, commented: “We are delighted to formally welcome Scott Brown and his team of loyal, dedicated employees into the Sompo International U.S. Insurance platform. This acquisition displays our dedication to the long-term general aviation market and reinforces Sompo International’s commitment to building a portfolio of industry leading, diversified and profitable products. I look forward to continuing to work with Scott and his leadership team, who have grown the W. Brown organization into the industry leader that it is today. I am certain that together, we will build on this strong track record of success and achieve even greater things in the years to come.”
Scott Brown, principal, W. Brown & Associates, said: “We are thrilled to combine the financial strength and reputation of Sompo International with our commitment to service for our customers as W. Brown has done for over three decades. We look forward to being a part of an organization that we know and trust and where we can leverage additional resources, technology, capabilities and capital to help support and advance our efforts on behalf of our valued clients.”