Emmanuel Brulé, chief risk officer of Sompo International Holdings Ltd., is joining the board of directors of the Association of Bermuda Insurers and Reinsurers.

The board change comes after the Bermudian-based international insurer and reinsurer became a member of Abir.

With the addition of Sompo, Abir’s membership has risen to a record high of 32 carriers and four intermediaries.

Pina Albo, chair of Abir and CEO of Hamilton Insurance Group, said: “Sompo underscores the truly global nature of Bermuda’s (insurance and) reinsurance marketplace and I am pleased to welcome the company to Abir.

“Emmanuel will add to the strength of the Abir board and bring a perspective founded on deep experience of industry leadership in multiple jurisdictions.”

Mr Brulé was appointed as CRO of Sompo in July 2023. Prior to that, he was the CEO of Sanlam Pan Africa General Insurance.

During a three-decade career, Brulé also held numerous leadership positions during 14 years with AIG, including CRO for EMEA and president of Commercial Lines for EMEA.

“Sompo has achieved sustained growth since incorporating in Bermuda many years ago,” Mr Brulé said. “With an internationally recognised regulator and exceptional industry talent base, Bermuda has proven to be an excellent jurisdiction from which to operate our international business.”

“As a company that places a high value on relationships, we are happy to strengthen our partnership with the Bermuda reinsurance industry by joining Abir, an organisation that brings together many of our trading partners and has made a great contribution to Bermuda’s reputation as the ‘World’s Risk Capital’.”

John Huff, CEO of Abir, said: “Communities and businesses in more than 150 jurisdictions benefit from the protection and peace of mind provided by Abir member companies, who lead the world in managing large, complex risks, such as climate, mortgage, political instability and cyber.

“Sompo, as a global (insurer and) reinsurer, exemplifies the Bermuda value proposition and is a welcome addition to the Abir membership. Their support will help Abir build on our public policy, education and advocacy work that has never been more important.”

Established in March 2017 as the result of Sompo Holdings’ acquisition of Endurance Specialty Holdings, Sompo has more than 120 employees on the island and also has offices in North America, the UK, Europe, Latin America and Asia Pacific.

Parent company Sompo Holdings, which is based in Tokyo and listed on the Tokyo Stock Exchange, has an extensive global footprint with 80,000 employees in 46 countries.

Sompo Holdings’ insurance and reinsurance business outside Japan is unified under Sompo’s Commercial P&C and Retail platforms. In the 12 months ended December 31, 2022, Sompo wrote $15.6 billion of the group’s total $35 billion of gross premium.

Sompo has financial strength ratings of A+ (Superior) from A.M. Best and A+ (Strong) from Standard & Poor’s on its Commercial P&C operating subsidiaries.