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Sompo Japan

Sompo Japan Insurance Inc. is a Japanese property and casualty insurance company established on October 1, 1888, as the nation's first fire insurance provider.^[1]^[2] Headquartered at 26-1, Nishi-Shinjuku 1-chome, Shinjuku-ku, Tokyo, with paid-in capital of 85 billion yen, it operates as a core subsidiary of Sompo Holdings, Inc., focusing on non-life insurance products such as automobile, fire, earthquake, housing, casualty, and travel coverage, serving customers domestically and overseas.^[1]^[3] The company holds a strong position in Japan's highly consolidated non-life insurance market, commanding approximately a one-quarter share.^[4] Formed in 2014 through the merger of predecessor entities each with histories exceeding 120 years, Sompo Japan emphasizes innovative solutions in P&C insurance while supporting customer health and security initiatives.^[5]^[1] In recent developments, it has encountered regulatory scrutiny, including a 2023 presidential resignation amid the Bigmotor fraud scandal involving improper claims handling and a 2024 antitrust cease-and-desist order for premium coordination violations.^[6]^[7]

History

Founding and early operations (1888–2000)

Tokyo Fire Insurance Company was established in December 1888 as Japan's inaugural dedicated fire insurance provider, emerging during the Meiji era's rapid urbanization and industrialization when wooden structures and open flames posed constant fire hazards in cities like Tokyo.^[8] The company originated independently to address these risks, separate from marine-focused insurers like Tokyo Marine, and quickly prioritized customer protection by forming its own dedicated fire brigade to offer round-the-clock assistance to policyholders.^[9] This hands-on approach distinguished early operations, fostering trust in a nascent market where fire incidents were frequent and claims processing rudimentary. In the ensuing decades, Tokyo Fire expanded beyond pure fire coverage into broader property and casualty lines, including marine insurance by the early 20th century, reflecting Japan's growing trade and infrastructure needs.^[10] Absorbed into the Yasuda zaibatsu conglomerate in 1893, the entity evolved into Yasuda Fire & Marine Insurance Co., Ltd., solidifying its role in domestic non-life insurance amid economic modernization.^[11] Parallel developments marked the other key predecessor: Nippon Fire & Marine Insurance Co., Ltd., whose roots traced to fire insurance entrants like those operational by 1892, though formalized in 1944 via amalgamation of earlier regional fire insurers such as Hokkaido Fire (established circa 1910).^[12] Both entities navigated wartime consolidations and post-war recoveries, emphasizing empirical risk assessment and premium growth tied to Japan's industrial booms. A pivotal test came with the 1923 Great Kantō Earthquake, which devastated Tokyo and Yokohama, igniting widespread fires that accounted for much of the destruction and generated unprecedented claims overwhelming the young industry.^[13] Predecessors like Yasuda's lineage participated in payouts under government-mediated settlements, as private capacity proved insufficient, highlighting causal vulnerabilities in fire-prone urban settings and spurring enhancements in reinsurance and reserve practices.^[14] This event, while straining finances, underscored the sector's resilience and contributed to regulatory refinements that stabilized operations. Through the Shōwa and Heisei eras up to 2000, Yasuda Fire & Marine and Nippon Fire & Marine operated as leading domestic providers of property and casualty insurance, capitalizing on Japan's post-war economic miracles for steady policyholder expansion and premium increases, though specific metrics reflected cyclical ties to construction and manufacturing surges rather than unsubstantiated narratives of unchecked growth.^[8] Deregulation precursors in the 1990s, amid the "financial Big Bang," intensified competition but preserved their focus on core empirical underwriting in fire, liability, and auto lines, setting the stage for later integrations without venturing into global pursuits pre-2001.^[9]

Mergers and formation under Sompo Holdings (2001–2010)

In April 2001, Nipponkoa Insurance Co., Ltd. was formed through the merger of The Nippon Fire and Marine Insurance Co., Ltd. and The Koa Fire and Marine Insurance Co., Ltd., consolidating operations to address rising competitive pressures in Japan's non-life insurance sector following regulatory deregulations that facilitated easier market entry and product competition.^[15] This merger created a stronger entity focused on property and casualty (P&C) insurance, enabling shared administrative functions and risk pooling amid declining premiums from economic stagnation and natural disaster claims.^[16] On July 1, 2002, Sompo Japan Insurance Inc. emerged from the merger of Yasuda Fire & Marine Insurance Co., Ltd. and Nissan Fire & Marine Insurance Co., Ltd., establishing it as Japan's second-largest P&C insurer with an approximate 18% share of domestic direct premiums based on the combined fiscal figures of the predecessors.^[17] These consolidations were driven by the need for scale to achieve cost reductions in underwriting and distribution, as well as to counter price competition intensified by the Insurance Business Law amendments that promoted consolidation over fragmentation.^[16] Post-merger, Sompo Japan reported operational efficiencies through unified agency networks, though empirical premium data from the immediate years showed modest growth constrained by broader market softness, with net premiums written stabilizing rather than surging due to persistent low interest rates affecting investment income.^[18] By the late 2000s, further integration became imperative to bundle P&C with nascent life insurance and nursing care segments for diversified revenue amid demographic shifts toward an aging population. In October 2009, Sompo Japan and Nipponkoa signed a share exchange agreement to create a joint holding company, NKSJ Holdings, Inc. (later rebranded Sompo Holdings), incorporated on April 1, 2010, with initial capital of ¥100 billion and full ownership of both insurers' shares via an exchange ratio of 1:0.9 (Sompo Japan to Nipponkoa).^[16]^[19] This structure facilitated group-level synergies, such as centralized risk management and cross-selling of P&C with life products from subsidiaries like Sompo Japan Himawari Life and Nipponkoa Life, which merged in March 2010 to form a unified life arm targeting growth areas.^[20] The holding company's formation positioned the group for enhanced market share, eventually reaching about 26% in non-life premiums, though early synergies emphasized administrative streamlining over immediate premium expansion.^[21]

Global expansion and recent restructuring (2011–present)

In the decade following the 2010 formation of Sompo Holdings, Sompo Japan, the group's core domestic property and casualty (P&C) insurer, contributed to initial overseas growth through targeted equity increases and consolidations in emerging markets. In June 2011, Sompo Japan acquired additional shares in Berjaya Sompo Insurance Berhad, elevating the Malaysian entity to consolidated subsidiary status and expanding the group's Asia-Pacific footprint.^[16] By October 2014, operations in Brazil advanced via the merger of Yasuda Seguros S.A. and Marítima Seguros S.A. into Sompo Seguros S.A., consolidating Latin American P&C activities under a unified brand.^[16] A transformative step occurred in March 2017 with Sompo Holdings' $6.3 billion acquisition of Endurance Specialty Holdings Ltd., a Bermuda-based specialty insurer and reinsurer, which generated approximately $2.7 billion in annual gross premiums at the time. This deal established Sompo International Holdings Ltd. as the centralized platform for non-Japanese commercial P&C insurance and reinsurance, headquartered in Bermuda and integrating Endurance's established networks in the U.S., U.K., and continental Europe to diversify revenue streams amid maturing domestic Japanese demand.^[22] ^[23] ^[24] Building on this, Sompo International expanded European presence in January 2018 by incorporating SI Insurance (Europe) SA in Luxembourg as a consolidated subsidiary, followed by its January 2019 merger with Sompo Japan Nipponkoa's European insurance unit to streamline cross-border operations.^[16] Organic premium growth in these international units, coupled with selective underwriting enhancements, propelled Sompo's overseas P&C revenues, which rose to represent a substantial portion of group earnings by the early 2020s, driven by demand for specialty risks in developed markets.^[25] In February 2025, Sompo Holdings unveiled a structural overhaul effective April 1, 2025, segmenting operations into Sompo Property and Casualty (re)insurance (Sompo P&C) and Sompo Wellbeing to foster integrated global management. The Sompo P&C division amalgamates Sompo Japan's domestic commercial and consumer P&C lines—generating stable yen-denominated premiums—with Sompo International's overseas insurance and reinsurance portfolio, yielding combined gross written premiums exceeding $30 billion and employing over 40,000 staff worldwide. This consolidation targets cost efficiencies, unified risk pricing, and accelerated product innovation to counter intensifying competition from multinational peers, without altering Sompo Japan's foundational domestic role.^[26] ^[27] ^[28] Complementing this, Sompo's August 2025 agreement to acquire Aspen Insurance Holdings for $3.5 billion adds $1.9 billion in reinsurance gross written premiums, particularly bolstering Bermuda and Lloyd's syndicate capabilities, to elevate Sompo P&C's global scale and third-party reinsurance appetite amid favorable hardening market cycles.^[29] ^[30]

Corporate Structure

Relationship to Sompo Holdings

Sompo Japan Insurance Inc. operates as a wholly owned subsidiary of Sompo Holdings, Inc., serving as the group's core entity for domestic property and casualty (P&C) insurance in Japan, with a primary emphasis on non-life insurance lines such as automobile, fire, and liability coverage.^[31] This structure positions Sompo Japan at the heart of Sompo Holdings' operations within the Japanese market, where it underwrites the majority of the group's domestic P&C premiums and manages localized risk exposure.^[32] Sompo Holdings structures its business around four key pillars—domestic P&C insurance, overseas insurance and reinsurance, domestic life insurance, and nursing care and senior services—with Sompo Japan driving the domestic P&C pillar through its established network and market expertise.^[33] Under this alignment, Sompo Japan contributes substantially to the holding company's overall strategy by focusing on Japan-centric risk management, enabling synergies in pricing, underwriting standards, and capital allocation across the group. Sompo Holdings provides centralized governance, including board oversight and resource allocation, to Sompo Japan, which employs a significant portion of the group's workforce dedicated to domestic operations.^[34] Globally, Sompo Holdings oversees more than 40,000 employees, with Sompo Japan's role ensuring robust handling of Japan-specific perils like natural disasters and commercial risks, thereby supporting the parent's diversified portfolio without direct involvement in overseas or life insurance activities.^[26]

Governance and leadership

Koji Ishikawa serves as President and Chief Executive Officer of Sompo Japan Insurance Inc., a position he has held since at least January 2024, overseeing domestic property and casualty operations while reporting to Sompo Holdings' global structure following a 2025 reorganization of the parent company's property and casualty segment.^[35]^[1]^[26] Sompo Japan's governance aligns with Sompo Holdings' framework as a company with committees, where the Board of Directors consists primarily of outside directors to enhance oversight and decision-making independence.^[36] The parent company's Governance, Risk, Quality, and Compliance Committee advises on risk management, compliance, and quality issues, integrating these into group-wide operations including Sompo Japan's activities.^[37] For international subsidiaries under Sompo International Holdings Ltd., the board includes executives such as James Shea as CEO and independent directors like Nicholas Walsh as Chairman, focusing on enterprise risk management and regulatory adherence.^[38]^[39] Executive transitions have occurred amid structural changes, such as the 2025 segregation of Sompo Holdings into global property and casualty and wellbeing segments, with Ishikawa retaining his role but under new reporting lines to segment leadership.^[26] Prior adjustments, including Ishikawa's elevation from Senior Vice President in early 2024, reflect efforts to align leadership with evolving business priorities.^[40] In terms of policy implementation, Sompo Japan, as part of the group, adopted restrictions in 2022 excluding insurance for tar sands and Arctic oil and gas projects, positioning it as Japan's first non-life insurer to do so as a measure to mitigate exposure to high-risk energy sectors.^[41] This was followed in 2025 by a policy incorporating free, prior, and informed consent (FPIC) for indigenous rights in project underwriting, further embedding risk assessment into governance practices.^[42]

Business Operations

Domestic property and casualty insurance

Sompo Japan Insurance Inc. specializes in domestic property and casualty (P&C) insurance, offering core products such as fire insurance for residential and commercial properties, automobile liability and comprehensive coverage, and general liability policies to mitigate risks from accidents and third-party damages.^[5] These offerings are adapted to Japan's vulnerability to natural perils, including earthquakes and typhoons, with fire insurance often bundled to cover wind and water damage from storms.^[31] Earthquake insurance, provided in partnership with the Japanese government, supplements fire policies by reimbursing up to 50% of eligible losses, emphasizing rapid payout mechanisms for rebuilding in seismic zones.^[43] As one of Japan's "Big Three" non-life insurers—alongside MS&AD Insurance Group Holdings and Tokio Marine Holdings—Sompo Japan commands approximately 25% of the highly consolidated domestic non-life market, particularly strong in corporate fire and auto segments where it serves both individual consumers and large enterprises.^[4]^[44] This leadership stems from its scale in underwriting high-exposure risks, supported by actuarial models informed by historical data from events like the 2011 Tōhoku earthquake, though specific claims volumes remain proprietary and aggregated across the industry.^[45] The company operates through an extensive nationwide network of branches, sales offices, and agent partnerships to distribute policies and handle claims efficiently, with over 1 million customers primarily in P&C lines served via dedicated intermediaries.^[46] Digital tools enhance domestic operations, including data integration for accelerated claims processing during large-scale disasters, enabling provisional payments based on integrated accident reports to minimize policyholder delays.^[47] These initiatives prioritize empirical risk assessment over generalized coverage, reflecting causal factors like Japan's tectonic activity and urban density in premium structuring and reserve adequacy.^[31]

International expansion and subsidiaries

Sompo Holdings expanded its international operations through strategic acquisitions and organic growth, establishing a presence in 29 countries and regions via subsidiaries, branches, and representative offices.^[48] A pivotal step occurred in 2017 with the $6.3 billion acquisition of Endurance Specialty Holdings Ltd., a Bermuda-based specialty insurer and reinsurer, which was integrated to form Sompo International Holdings Ltd. as the group's primary global platform for property, casualty, and specialty insurance.^[24] ^[49] This move enhanced capabilities in reinsurance and complex risk management, leveraging Endurance's established Bermuda operations for efficient capital deployment in international markets.^[50] Sompo International Holdings Ltd., an indirect wholly-owned subsidiary of Sompo Holdings, serves as the core entity for overseas underwriting, with a focus on specialty lines such as marine, energy, and aviation risks tailored to multinational corporations.^[51] It operates regional hubs across Asia-Pacific (anchored in Singapore), Europe, the Americas (including Bermuda and North America), the Middle East, and Latin America, facilitating cross-border risk transfer and compliance with diverse regulatory environments.^[52] The multinational business unit within Sompo International provides an integrated platform for managing enterprise-wide exposures, including reinsurance solutions that enable seamless coverage for companies operating in multiple jurisdictions.^[52] Further diversification came through the 2025 acquisition of Aspen Insurance Holdings Ltd. for $3.5 billion, bolstering Sompo International's footprint in North America and Europe with enhanced specialty and commercial lines expertise.^[30] In the same year, Sompo International received authorization to underwrite primary insurance in Belgium and the Netherlands, extending its European operations amid growing demand for tailored commercial coverage in continental markets.^[53] These initiatives underscore a strategy prioritizing profitable growth in developed and emerging economies, distinct from domestic Japanese operations by emphasizing global reinsurance and multinational client servicing.^[48] Sompo Japan Partners Inc. supports agency functions for international placements, channeling risks into the group's overseas platforms while adhering to local intermediary regulations.^[54] Overall, this structure differentiates international subsidiaries by their orientation toward high-value, cross-jurisdictional products, contrasting with Sompo Japan's core domestic property and casualty focus.^[51]

Key products and services

Sompo Japan provides core property and casualty (P&C) insurance products centered on automobile, fire, and liability coverage tailored to Japanese market needs. Automobile policies include features like the SOMPO Drive mobile app, launched in April 2023, which monitors driving behavior to offer premium discounts for safe practices, alongside the reinstated Safe Driving Discount program.^[31] Fire insurance offerings emphasize household protection, supported by the Easy Household Belongings Assessment Tool introduced in June 2023, enabling customers to inventory and value personal assets for enhanced disaster risk evaluation.^[31] Commercial P&C lines feature products such as Business Master Plus, rolled out in June 2024, which addresses small and medium-sized enterprises' exposures by covering property damage, business interruption from operational halts, and workplace accident liabilities.^[31] Liability insurance extends to general third-party risks, with policies designed to mitigate claims from bodily injury or property damage in business contexts.^[31] Specialized covers include cyber risk protection via SOMPO CYBER SECURITY, a suite integrating insurance with proactive risk assessment and mitigation services to address data breaches and network disruptions.^[31] Disaster-specific policies, customized for Japan's frequent seismic and typhoon events, provide compensation for earnings losses and recovery expenses following natural catastrophe-induced business suspensions, as evidenced by dedicated reinsurance arrangements targeting typhoon and flood perils.^[43]^[55] Ancillary services enhance P&C adjacencies, such as digital policy management tools including smartphone-based claims messaging and the Mysurance platform, which has facilitated over 600,000 domestic travel cancellation insurance policies.^[56] Wellbeing-linked options, like the Eyeco Support program expanded in 2023 for remote assistance to visually impaired policyholders, integrate preventive support with coverage.^[31] Innovations like electric vehicle services added to the SA·PO·PO program in September 2023 further differentiate offerings for emerging mobility risks.^[31]

Financial Performance

Market position and key metrics

Sompo Japan Insurance Inc. ranks as Japan's third-largest non-life insurer, operating within a highly consolidated market dominated by three groups—Tokio Marine Holdings, MS&AD Insurance Group Holdings, and Sompo Holdings—that collectively control approximately 88% of premiums.^[57] The company maintains a strong market position with roughly 25% share of the non-life segment, supported by consistent premium growth and operational scale.^[4] In fiscal year 2023, Japan's total direct premiums written reached 9,917.8 billion yen, with Sompo Japan's contributions reflecting its oligopolistic standing.^[58] For fiscal year 2024 (ended March 31, 2025), Sompo Japan's net premiums written totaled 2,301.7 billion yen, up 53.8 billion yen from the previous year, driven by domestic property and casualty lines.^[59] Key performance metrics include a five-year average return on equity of around 8%, underscoring resilience in a low-interest environment that limits investment income from bonds and equities.^[4] The combined ratio improved by 0.4 percentage points in FY2024, aided by underwriting adjustments despite pressures from catastrophe losses and prior-year reserve developments.^[60] Reserve adequacy is rated favorably by agencies like A.M. Best, reflecting prudent loss provisioning amid Japan's seismic risks and aging infrastructure.^[4] Following the 2023 Bigmotor insurance fraud scandal, Sompo Japan exhibited operational recovery, with domestic P&C net income rising to 179.7 billion yen in FY2024, an increase of 69.9 billion yen year-over-year, as premium momentum and cost controls offset reputational impacts.^[59] Compared to peers, Sompo Japan's metrics highlight competitive stability, though investment returns lag behind global counterparts due to domestic yield constraints.^[4]

Growth and acquisitions

Sompo Holdings, the parent company of Sompo Japan Insurance Inc., pursued aggressive merger and acquisition (M&A) activity to drive expansion in property and casualty (P&C) insurance, particularly in international specialty lines. In October 2016, Sompo announced the acquisition of Bermuda-based Endurance Specialty Holdings Ltd. for approximately $6.3 billion (¥639.4 billion), marking the group's largest deal to date and targeting U.S. and Bermuda operations for enhanced global reach.^[22]^[23] The transaction closed on March 29, 2017, leading to the formation of Sompo International Holdings Ltd. in Bermuda, which integrated Endurance's operations and boosted overseas net premiums written by leveraging specialized underwriting in areas like property catastrophe and professional indemnity.^[24]^[49] This acquisition causally contributed to scaling Sompo's international P&C portfolio, with subsequent integration enabling diversified revenue streams and reduced reliance on domestic Japanese markets.^[16] Building on this foundation, Sompo continued M&A to fill capability gaps in specialty insurance. On August 27, 2025, Sompo agreed to acquire New York-listed Aspen Insurance Holdings Ltd. for about $3.5 billion, aiming to strengthen U.S. and global specialty lines including reinsurance and commercial P&C.^[61]^[30] The deal, part of a westward expansion strategy, is expected to enhance synergies across Sompo International's platform and support premium growth through Aspen's established U.S. presence.^[62] Earlier acquisitions, such as those by Sompo International in sectors like insurance carriers, further diversified operations, with a total of six deals by Sompo Holdings through September 2025 contributing to overseas infrastructure.^[63] These inorganic efforts complemented organic growth, where international diversification drove premium increases via expanded underwriting and market penetration post-2017.^[9] Strategic restructuring in 2025 amplified these growth drivers by fostering P&C synergies. Effective April 1, 2025, Sompo Holdings reorganized into the Sompo P&C global segment, integrating Sompo Japan’s domestic commercial and consumer P&C with Sompo International's insurance and reinsurance arms.^[26]^[27] This shift, separating P&C from the Sompo Wellbeing segment, enabled unified platforms for sophisticated underwriting and rate adjustments, projecting over $1 billion in additional gross written premiums by fiscal year 2026 through organic initiatives like enhanced global distribution.^[64]^[65] The evolution supported sustained compound annual growth in adjusted earnings per share, targeting at least 12% CAGR through fiscal 2026, underpinned by M&A-fueled scale and operational efficiencies.^[28]

Controversies and Criticisms

Bigmotor insurance fraud involvement (2023–2024)

Sompo Japan Insurance Inc., a major non-life insurer, became entangled in the Bigmotor Co. scandal through its dispatch of approximately 100 employees to the used-car retailer and repair chain, some of whom participated in or overlooked fraudulent practices such as fabricating vehicle damages to inflate insurance claims.^[66] Bigmotor's scheme, uncovered in July 2023, involved systematic fraud including intentional damage to cars for unnecessary repairs and odometer tampering, leading to an estimated 65,000 bogus claims across Japanese insurers over five to eight years, with Sompo Japan among those affected.^[67] Internal investigations revealed that Sompo Japan had received whistleblower reports as early as 2022 flagging suspicious activities at Bigmotor sites staffed by its loaned personnel, yet the company prioritized preserving business volume and market share over thorough probes, resuming ties with Bigmotor despite evidence of irregularities.^[68]^[69] The insurer's lapses included failing to escalate findings of systemic fraud to regulators; for instance, in October 2023, Sompo Japan omitted confirmed accounts of dispatched employees' involvement in scams from its Financial Services Agency (FSA) report, deeming them unverified despite internal acknowledgments.^[68] This oversight culture, which emphasized sales targets over compliance, prompted President Giichi Shirakawa's resignation on September 8, 2023, as he accepted responsibility for the inadequate handling of the affair.^[6]^[70] Subsequent scrutiny extended to Sompo Holdings leadership, with Chairman and CEO Kengo Sakurada facing criticism for downplaying the issue, culminating in the chairman's decision to step down on January 26, 2024, to atone for the group's entanglement.^[71] In response to the revelations, the FSA issued a business improvement order to Sompo Japan on January 25, 2024, mandating reforms to address profit-driven governance failures and enhance fraud detection mechanisms, though no solvency risks or premium hikes were imposed.^[72]^[73] Sompo's internal audits confirmed that while the scandal exposed procedural gaps, it did not materially impair the company's financial stability, leading to revised operational plans focused on compliance without halting core auto insurance activities.^[69] The episode highlighted broader vulnerabilities in insurer-dealer partnerships, where dispatched staff blurred accountability lines, but Sompo Japan maintained that most loaned employees operated ethically amid Bigmotor's coercive environment.^[66]

Price-fixing and premium arrangement allegations (2023–2024)

In June 2023, Japan's Fair Trade Commission initiated an antitrust probe into Sompo Japan Insurance Inc., alongside rivals Tokio Marine & Nichido Fire Insurance Co. and Mitsui Sumitomo Insurance Co. (units of MS&AD Insurance Group), over suspicions of collusive practices in setting non-life insurance premiums for corporate clients.^[74]^[75] The investigation focused on evidence of bid-rigging and price coordination, where insurers allegedly exchanged sensitive information and prearranged winning bids to maintain elevated premiums, affecting contracts for property and casualty coverage.^[76]^[77] An external third-party committee's report, released in June 2024, confirmed Sompo Japan's involvement in systematic antitrust violations, including prearranged premium rates with competitors for 385 corporate clients between fiscal years 2018 and 2023.^[78]^[79] The probe highlighted a pattern of "systematic ignorance" of compliance rules, with historical precedents of market cartel behavior and rival information sharing dating back over a decade, though it attributed much of the issue to entrenched industry norms rather than deliberate top-down directives.^[79] These practices were linked to opaque bidding processes in Japan's non-life insurance sector, where keiretsu-style affiliations among insurers facilitated informal coordination but exposed firms to regulatory scrutiny under the Antimonopoly Act.^[77] Regulatory repercussions followed swiftly: On December 26, 2023, the Financial Services Agency issued business improvement orders to Sompo Japan and its peers, mandating enhanced internal controls and antitrust training without imposing immediate fines at that stage.^[76]^[80] By November 1, 2024, the Japan Fair Trade Commission levied a ¥642 million surcharge on Sompo Japan for the violations, part of a total ¥2.1 billion in penalties across the three major insurers, reflecting the scale but relative leniency compared to affected premium volumes exceeding billions of yen.^[81] Market response was muted; Sompo Holdings shares initially dropped up to 5% in late September 2023 amid media reports but rebounded within days, suggesting investor perception of limited long-term impact amid strong underlying financials.^[77] The episode underscored broader challenges in Japan's insurance oligopoly, where the top three firms control over 70% of non-life premiums, prompting calls from regulators for vigilant enforcement to deter recidivism while acknowledging cultural factors in business dealings.^[82]^[83]

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As a Company with Committees, Sompo Holdings has established a governance structure where the Board of Directors composed mainly of outside directors, ...Missing: composition | Show results with:composition
[37]
Business and other risks | Sompo Holdings
The Governance, Risk, Quality, and Compliance Committee has been established as an advisory body to the Management Committee to deliberate on matters related to ...
[38]
Corporate Governance - Sompo
The Board of Directors of Sompo International Holdings Ltd. (the Company), a wholly-owned subsidiary of Sompo Holdings, Inc. sets high standards for our ...
[39]
Sompo appoints Nicholas Walsh as Independent Non-Executive ...
May 6, 2025 · In addition to Mr Walsh's appointment, Monica Cramér Manhem has been appointed as an Independent Non-Executive Director and Yoshihiro Uotani, ...
[40]
Sompo Holdings, Inc. Announces Executive Changes
Jan 26, 2024 · Officer, Effective January 31, 2024. Koji ISHIKAWA's designation has ben changed from Senior Vice President and Executive Officer to the new ...<|separator|>
[41]
Oil & gas: SOMPO becomes the first Japanese insurer to rule out tar ...
May 27, 2022 · SOMPO became the first Asian insurer to restrict its coverage to the oil and gas sector, tackling as many other European and US insurers ...
[42]
Advocacy for ending Japanese insurance underwritings for fossil ...
January 15, 2025: Joint statement: SOMPO becomes Japan's first non-life insurer to adopt a policy respecting indigenous peoples' rights including FPIC. We urge ...
[43]
Support for Customer Disaster Prevention | Sompo Holdings
The earthquake insurance provided jointly by the Japanese government and insurance companies compensates only for up to 50% of the fire insurance proceeds.
[44]
How Japan's non-life insurers record $12.4b net income in fiscal 2024
Sep 19, 2025 · Japan's non-life insurance sector remains dominated by three major groups—MS&AD Insurance Group Holdings, Sompo Holdings, and Tokio Marine ...
[45]
Support for Areas Affected by Major Disasters | Sompo Holdings
Sompo provides food, meals, caregivers, and relief funds. They also dispatched employees, made insurance payouts, and donated to disaster-affected areas.
[46]
Sompo Japan Partners
Sompo Japan Partners provides comprehensive services for the security, health and wellbeing of its roughly 1 million customers, mainly in P&C and life ...
[47]
[PDF] Enabling Early Payment of Insurance Claims in the Event of a Large ...
Aug 12, 2022 · Sompo Japan has begun to collect and integrate accident and insurance claim data from major natural disasters and build applications. Digital.
[48]
Overseas Insurance | Sompo Holdings
Global Expansion. The Sompo Holdings Group has overseas subsidiaries, branch offices and representative offices in 29 countries and regions worldwide ...
[49]
Sompo Closes $6.3 Billion Endurance Acquisition and Forms ...
Sompo Holdings Inc. has acquired Endurance Specialty Holdings Ltd. in a $6.3 billion deal and is launching its fully integrated global commercial insurance and ...
[50]
Sompo sells Endurance at Lloyd's run-off business
Aug 30, 2022 · Sompo has sold its Endurance at Lloyd's (EAL) run-off business to Riverstone International. The firm said in a statement that this deal ...
[51]
Sompo: Leading Global Insurer | Sompo
We are Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holding's 135 years of innovation, we seek to ...Locations · Careers · Insurance · About UsMissing: establishment | Show results with:establishment
[52]
Multinational Business - Sompo
Sompo's Multinational Business Unit offers companies with business operations in multiple countries an industry-leading platform for managing risk.
[53]
Sompo expands operations in Continental Europe with authorisation ...
Mar 27, 2025 · Sompo International Holdings Ltd. is an indirect wholly-owned subsidiary of Sompo Holdings, Inc., one of the leading property and casualty ...
[54]
List of Group Companies | Sompo Holdings
SOMPO P&C. Domestic P&C Insurance. Sompo Japan Insurance Inc. Line of Business: P&C Insurance Head Office: 26-1 Nishi-shinjuku 1-chome, Shinjuku-ku, Tokyo .
[55]
Sompo Japan targets $150m Sakura Re 2025-1 typhoon and flood ...
Mar 4, 2025 · Japanese insurance company Sompo Japan is back in the catastrophe bond market seeking $150 million or more in reinsurance protection for ...
[56]
Products and Services Using Digital Technology | Sompo Holdings
Sompo Japan currently provides a service enabling customers to exchange messages and other information with claims payment staff on their smartphones.Missing: Nipponkoa | Show results with:Nipponkoa
[57]
Sompo, Japan's Third-Largest General Insurer, Differentiates Itself ...
Sep 11, 2024 · Three firms—Tokio Marine, MS&AD, and Sompo—together have 88% share, and only three others (AIG, the nonlife unit of an agricultural cooperative ...
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[PDF] GENERAL INSURANCE IN JAPAN
1, 2024, a total of 57 general insurance companies were operating in Japan. A total of 35 companies were licensed as domestic insurers, including foreign ...<|separator|>
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Overview of FY2024 Results | Sompo Holdings
The Company is forecasting 110.0 billion yen for net incurred losses (excluding household earthquake insurance) of Sompo Japan Insurance Inc. in the domestic ...
[60]
[PDF] Highlights of FY2024 Results
May 20, 2025 · Net Premiums Written (Sompo Japan). •. Net insurance premiums for FY2024 increased by ¥63.1 bn. YoY to ¥2,045.6 bn. due to the impact of ...
[61]
Japan's Sompo to acquire Aspen Insurance for $3.5 billion ... - Reuters
Aug 27, 2025 · Sompo Holdings said on Wednesday that it would acquire New York-listed Aspen Insurance Holdings for about $3.5 billion, joining a number of ...
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[PDF] Acquisition of Aspen Insurance Holdings
Aug 27, 2025 · Growth History of SOMPO Group's Overseas Business. • Continuously expand while executing in-out based on Sompo International's global platform.<|separator|>
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List of 6 Acquisitions by Sompo Holdings (Sep 2025) - Tracxn
Sep 6, 2025 · Sompo Holdings has made a total of 6 acquisitions. These acquisitions involve 2 sectors: Insurance Carriers (2) and Healthcare IT (1), ...
[64]
[PDF] Evolution to SOMPO P&C
Mar 11, 2025 · Strategic growth initiatives are expected to increase gross written premiums by over $1 billion by FY2026 through organic growth.Missing: 2011-2025 | Show results with:2011-2025<|separator|>
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Growth through the evolution of our insurance business
May 14, 2025 · SOMPO P&C represents a significant player in the global insurance market, with its combined businesses exceeding US $30bn in gross written ...
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Sompo Japan put own interests first as Bigmotor scandal unfolded
Sep 13, 2023 · ... involvement of employees dispatched from Sompo in Bigmotor's scam. ... Sompo Japan head to resign over Bigmotor fraud scandal. September 8 ...
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Japanese insurers uncover 65000 fraudulent claims by Bigmotor
Jul 24, 2024 · Several non-life insurance companies have identified tens of thousands of fraudulent claims from Bigmotor, a used car dealer now out of business.Missing: 2023 | Show results with:2023
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Insurer Sompo Japan failed to report systemic fraud at Bigmotor
Oct 11, 2023 · But Sompo Japan failed to include this information in its report to the FSA, saying at the time that it could not confirm accounts of fraud.
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Editorial: Sompo-Bigmotor fraud scandal demands Japan insurers ...
Feb 6, 2024 · Despite being in a position to detect fraud early on, Sompo Japan decided to turn a blind eye to maintain market share. Sompo Holdings, which ...
[70]
Sompo Japan Insurance president to resign over Bigmotor scandal
Sep 9, 2023 · TOKYO -- Sompo Japan Insurance announced Friday that President Giichi Shirakawa will step down over the company's handling of allegedly ...
[71]
Sompo Holdings chairman to quit in fallout from Bigmotor scam
Jan 26, 2024 · The chairman of Sompo Holdings Inc. will step down to take responsibility for the company's involvement in an insurance scam committed by Bigmotor Co.
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[PDF] Overview of administrative sanctions (business improvement orders ...
Jan 25, 2024 · The administrative penalty was issued against Sompo Japan for its response to fraudulent automobile insurance claims by Big Motor (inclusive ...
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Sompo Japan ordered to improve practices following Bigmotor fallout
Jan 27, 2024 · This order comes in light of their involvement in the insurance fraud scandal associated with used car dealer Bigmotor. A report from The ...
[74]
Sompo, Tokio Marine Fall on Insurer Price Fixing Probe Reports
Jun 19, 2023 · fell in Tokyo trading after local media reported that their units are under a probe into suspected collusion over setting premiums. The ...
[75]
Japan Competition Watchdog Probes Insurers Over Price Fixing
Aug 8, 2023 · The Japan Fair Trade Commission will summon officials from Tokio Marine Holdings Inc., MS&AD Insurance Group Holdings Inc., Sompo Holdings Inc.
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Japan penalizes biggest property insurers for price fixing
Dec 26, 2023 · Japan's financial regulator penalized the country's largest property and casualty insurers for colluding to fix prices in contracts with corporate clients.
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MS&AD, Sompo, Tokio Marine shrug off price-fixing scandal as ...
Oct 10, 2023 · The early-September resignation of Sompo Japan Insurance President Giichi Shirakawa, reportedly over the company's handling of allegedly ...
[78]
Sompo Japan Prearranged Premiums for 385 Companies
Sompo Japan Insurance Inc. inappropriately prearranged with other nonlife insurers premiums for contracts with a total of 385 corporate clients.Missing: probe rates
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Sompo Japan's external probe finds systematic ignorance of ... - MLex
Jun 17, 2024 · The report describes a long history of problematic behaviors such as bid collusion, price rigging, market cartel, and rival information sharing, ...Missing: allegations | Show results with:allegations
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Japanese regulator penalises largest property insurers for price fixing
Dec 27, 2023 · Japan's Financial Services Agency has issued business improvement orders on the core units of Tokio Marine Insurance, MS&AD Insurance, and Sompo Japan ...Missing: premium | Show results with:premium
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Regulator fines Japan's major non-life insurers for price-fixing
Nov 1, 2024 · Mitsui Sumitomo Insurance has been ordered to pay ¥685m, while Sompo Japan faces a fine of ¥642m. Aioi Nissay Dowa and Tokio Marine ...
[82]
Japan Casualty Insurers' Shares Sink on Concerns Over Suspected ...
Aug 2, 2023 · A price-fixing scandal at Japan's biggest casualty insurers is escalating following a media report that the suspected collusion is likely to be wider than ...
[83]
Japan penalises top property insurers for price fixing
Dec 26, 2023 · Japan's financial regulator penalised the country's largest property and casualty insurers for colluding to fix prices in contracts with corporate clients.