By segment, insurance revenue was led by Commercial Insurance at $8.524 billion, followed by Global Reinsurance with $2.491 billion and Consumer Insurance with $1.034 billion.

All three segments posted increases compared with the first nine months of 2024.

Meanwhile, Sompo International’s combined ratio for the first nine months of 2025 improved to 94.2%, compared with 99% in the same period of 2024.

Again, all segments delivered better results, with Global Reinsurance standing out in particular.

The division posted a combined ratio of 66.2%, a significant improvement of 16.3 percentage points year on year.

The firm said the performance was primarily driven by strong results in Property & Catastrophe.

Sompo International reported a reinsurance result of –$988 million for the first nine months of 2025, an improvement of $213 million compared with the same period in 2024, while recoveries from reinsurance rose to $2.74 billion.

Meanwhile, the firm saw investment income increase to $1.195 billion, up from $1.06 billion in the first nine months of 2024.

As a result, Sompo International’s net income grew to $1.644 billion, an increase of $771 million year-on-year, while adjusted profit also climbed to $1.201 billion.

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For H1’25, Sompo International’s gross insurance revenue increased by 7% to $8.046 billion from $7.512 billion in H1’24, leading to a revised full year 2025 forecast of $15.743 billion.

Of the more than $8 billion total in H1’25, the global reinsurance business contributed $1.654 billion, up 3% year-on-year, driven by strong renewals in casualty lines, partially offset by a decline in professional lines.

Commercial insurance revenue increased by more than 6% year-on-year to $5.719 billion, led by casualty as a result of rate increases, growth in initiatives, and greater demand for supplemental coverage in US Agriculture.

Consumer insurance revenue also increased, by 29% to $672 million, which the firm attributes to strong growth in Turkey motor business.

Net revenue for Sompo International increased to $5.576 billion in H1’25 from $5.097 billion a year earlier.

All three operating segments reported a stronger combined ratio for H1’25, with global reinsurance seeing a 21.1 percentage point improvement to 61.5%, as commercial insurance saw its combined ratio strengthen by 1.7 percentage points to 85.8%, and consumer insurance an 8.8 percentage point improvement to 103.2%.

This resulted in a discounted combined ratio of 81.4% for Sompo International for H1’25, compared with 88.3% a year earlier. The undiscounted combined ratio strengthened to 93.8% from 97.5%.

The natural catastrophe impact reduced for Sompo International this year, totalling $87 million compared with $232 million last year, with a revised full year 2025 forecast of $335 million, down from the previous forecast of $552 million, both of which are lower than full year 2024’s total of $638 million.

On the asset side of the balance sheet, the re/insurer generated total net investment income of $768 million for H1’25 compared with $679 million a year earlier.

All in all, Sompo International achieved a net income of $1.298 billion for H1’25, up on the prior year’s $839 million, as adjusted profit for the company rose to $760 million from $592 million.

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Meanwhile, the firm reported gross written premiums (GWP) of $16.53 billion for FY2024, up from $15.62 billion in FY2023.

This growth was driven by all business segments except AgriSompo, which saw a decline due to lower commodity prices in North America.

Breaking down the FY2024 GWP figure, the North America segment contributed $4.997 billion, SompoRe $4.532 billion, Global Markets $2.993 billion, AgriSompo $2.627 billion, and the Consumer segment $1.381 billion.

Sompo International also disclosed a FY2024 underwriting income of $399 million, up from $67 million in FY2023, despite catastrophe losses expanding to $416 million.

With this in mind, the firm’s combined ratio decreased to 96.3% in FY2024, compared to 99.5% in FY2023, reflecting stronger underwriting discipline and favourable loss experience. SompoRe maintained its strong performance with a stable combined ratio of 89.8%.

As previously noted, investment income saw significant growth in FY2024, rising by 39% year-over-year to $1.38 billion.

This increase was primarily driven by higher book yields and an expanded asset base, contributing meaningfully to the firm’s overall profitability.

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Of the total gross premiums written figure for 3Q FY2024, the North American segment contributed $3.78 billion, Global Markets contributed $2.22 billion, Reinsurance accounted for $4.2 billion, and AgriSompo contributed $2.27 billion.

Except for AgriSompo, all segments experienced improvements compared to Q3 FY2023. The firm also noted an additional $400 million contribution to Q3 FY2024 gross written premiums from strategic initiatives.

Meanwhile, Sompo International’s 3Q FY2024 combined ratio increased +1.3pt to 93.7% primarily driven by increased operating expenses to support growth partially offset by lower adverse prior year development relative to 3Q FY2023.

With this in mind, Sompo International’s underwriting income was also down in 3Q FY2024, falling to $438 million from $518 million in 3Q FY2023.

Still, the firm’s adjusted profit for Q3 FY2024 was $1.059 billion, an increase of $198 million from Q3 FY2023.

Net investment income was reportedly a key contributor to this growth. However, the adjusted profit was partially offset by higher expenses to support business growth and the ongoing impacts of inflation.

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This new policy will allow the insurer, for the first time, to write Marine Cargo, and Transport & Logistics policies across the regions, in addition to London.

Aimed at brokers and clients throughout the UK, Sompo’s new Marine Cargo UK policy and its Transport & Logistics propositions are both designed to provide easy to understand coverage.

The Marine Cargo UK policy offers all-risks coverage, eliminating the need for Institute Cargo Clauses. This ensures that clients are automatically covered under the policy, except for any specific exclusions outlined, according to Sompo.

Furthermore, all coverage details are now consolidated into a single document, streamlining the customer experience and making it simpler to understand.

The Transport & Logistics UK proposition also provides a complete package solution under a single wording, comprising freight liability, employers liability, public, products and pollution liability, and property (material damage and business interruption covers.)

This policy is targeted at freight forwarders, road hauliers, couriers, warehouse keepers, customs brokers, contracts logistics companies and shippers.

“We are constantly looking at ways to adapt our business model to ensure we provide the very best service and experience possible to brokers and clients right across the UK,” Bob Thaker, CEO, Commercial P&C Insurance, Sompo, UK commented.

He continued: “By increasing capacity and establishing an outstanding team of regionally-based underwriters, our new proposition expands the offering we currently provide in London so we can now also cater for growing regional demand to write directly Marine Cargo and Transport & Logistics policies.

“Both have been developed to be as simple as possible and are underwritten by our highly experienced team of marine specialists to eliminate uncertainty and ensure peace of mind for our clients.”

Outside London, the lines are led by Diane Blyth, Head of (Retail) Marine Cargo UK Regions and Jon Clare, Head of (Retail) Transport & Logistics, UK Regions.

They both report into Paul Ashworth, Head of Aviation, Energy & Marine, who also manages Sompo’s marine business in London.

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With this initiative, Sompo will leverage Palantir’s data integration and AI solution – which the insurer will invest on over the next three years – to drive its digital transformation.

As part of this transformation, the insurer aims to use data analytics and AI to create intelligent assistants which can provide greater accuracy in pricing and operational efficiency, benefiting both insurers and customers.

Rodrigo Caramez, Sompo’s Chief Strategy Officer, stated: “Historically, the search for efficiency involved automating simple, repetitive, and high-volume processes. This still applies, but with the new technological frontier applied to the use of data and AI, and the availability of simpler tools with natural language, we can expand this search for efficiency to the organisation’s highly specialised core processes. The challenge now is to ensure that the team is involved and prepared for this new moment.”

Igor Zavorize, Sompo’s Superintendent of Strategy and Data Governance, said: “We are excited about our partnership with Palantir, using Foundry and AIP to maximise the potential of our data.

“These advanced data integration and analysis tools allow us to implement AI models at scale. With this, we can turn data into strategic insights and significantly improve decision-making across the organisation.”

The contract builds on Palantir’s existing partnership with Sompo’s parent company, Sompo Holdings in Japan.

This partnership has paved the way for data operations platform, Palantir Foundry, along with Palantir’s Artificial Intelligence Platform (AIP), to be used to support improved decision-making in key areas of Sompo’s business such as pricing, underwriting and risk management – delivering efficiency gains and faster response times for the insurer’s customers and partners.

The software is already embedded in Sompo’s Marine insurance segment in Brazil, where the insurer has been a market leader since 2027, it explained.

It is now working as a solution in the pricing processes for RCF-DC (Civil Liability of Road Carriers for Cargo Loss, in the Portuguese acronym) and RCTR-C (Civil Liability for Road Cargo Transporter, in the Portuguese acronym) branches.

This involves smart models which can interpret a significant number of physical documents and propose more appropriate values based on an assessment of historical pricing context and potential risk factors.

Commenting on the partnership, Eduardo Esteve, VP of Latin America, Palantir Technologies said: “This important agreement with Sompo is Palantir’s first partnership in the Brazilian insurance sector and reflects our consistent investment and growing local presence in the country.

“Our AI operating system now powers many of Brazil’s most important organisations, from government public health and education agencies to companies in the retail and tourism sectors.”

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Broken down, Sompo International’s commercial P&C North America segment contributed $19.3 million to the total underwriting income in Q1 2024, down from $91.7 million in Q1 2023.

Meanwhile, the Global Markets segment contributed $24.9 million to the total underwriting income in Q1 2024, up from $12.8 million, and the Reinsurance segment contributed $107.6 million, up from $82.2 million.

Only the AgriSompo segment reported an underwriting loss in Q1 2024 at -$27.1 million, similar to 2023’s Q1 loss of -$27.9 million.

According to the firm, its commercial P&C combined ratio increase and underwriting income decrease were mainly down to higher total operating expenses to support its growth strategy, which was partially offset by the absence of adverse prior-year development relative to Q1 2023.

Sompo International’s total overseas expenses reached $762 million in Q1 2024, an increase of $73 million compared to Q1 2023, with its commercial P&C business accounting for $651 million of the total.

Sompo International also disclosed that its commercial P&C business’ gross premiums written (GWP) in Q1 2024 were $5.52 billion, up from $5.26 billion in Q1 2023.

Of this total GWP figure, the North America segment contributed $1.068 billion, the Reinsurance segment $2.280 billion, the AgriSompo segment $1.481 billion, and the Global Markets segment $691 million.

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Created with modular wording and flexible approach, the package includes coverages comprising Property, Casualty, Professional Indemnity (PI) and Cyber.

All covers are optional and customised to each client’s unique needs, with the possibility of excess PI and Cyber separately to be provided separately.

The product is aimed at technology and telecoms service providers, plus electronic product manufacturers and assemblers. It provides clear and concise cover with limited restrictions and exclusions, Sompo noted.

The policy also offers PI wording inclusive of Intellectual Property Rights; breach of contract wording; worldwide cover on PI and Cyber; as well as Automatic Additional Insured coverage under PI and Public and Products Liability.

Bob Thaker, UK CEO, Sompo commented: “The launch of our new technology product demonstrates our commitment to growing our UK commercial lines business through innovation and developing solutions that enable our middle market technology clients to manage today’s most complex risks.

“It also further establishes Sompo as a key player in the fast-paced and rapidly evolving technology sector. We recognise this is a competitive market and are looking to provide extensive coverage for our clients, with as few limitations as possible.”

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The stronger combined ratio is reflected in a rise in underwriting income from $667.3 million in 2022 to $750.2 million in 2023, as growth in Reinsurance and North America more than offset declines in both Global Markets and AgriSompo.

In North America, the firm highlights improved accident year margins and lower catastrophe losses, while the Reinsurance business also benefited from lower nat cat losses.

In fact, across the company, natural disaster losses fell from $553 million in 2022 to $324 million in 2023, driven by U.S. tornados, Cyclone Gabrielle, Hawaii wildfires, European hailstorms, the Turkey earthquake, Hurricane Idalia, and other events.

In terms of top line growth, Sompo International Commercial P&C generated gross written premiums of more than $14.3 billion, which is down slightly on 2022’s $14.5 billion, as growth in Reinsurance, North America, and Global Markets was offset by a decline in AgriSompo.

Net premiums earned rose by $70 million to almost $9 billion, with growth in Reinsurance, North America, and Global Markets more than offsetting a $258 million dip in the AgriSompo business.

Adjusted profit for Sompo’s overseas insurance and reinsurance business hit $1.2 billion, up from $703 million in 2022, which the firm attributes to higher net investment income, improved consumer results, and recording a deferred tax asset that more than offset reserve strengthening.

The firm’s 2023 investment income hit $993 million, nearly double the previous year’s balance due to higher book yields and larger asset balances.

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According to the Bermuda headquartered re/insurer, it strengthened 2019 and prior accident year reserves in Q4 2023, and the balance for future years, resulting in a charge of $575m.

Still, the firm’s USD-basis adjusted profit exceeded the forecast, hitting $1.15bn, aided by catastrophe losses being lower than expected, higher than anticipated net investment income on improving book yields, and deferred tax assets.

As for its Q3 2023 results, Sompo International has reported an adjusted profit of $860m, significantly higher than a year ago, driven by the aforementioned lower catastrophes and higher net investment income, which increased by $357m to $702m.

In Sompo International’s Commercial P&C business, gross premiums written for Q3 totalled $11.9bn, driven primarily by positive developments in the firm’s North America and Global Markets segments.

Meanwhile, net premiums earned increased by $105m, again propped up by the strong North America segment, which saw continued pricing improvements above loss cost trends.

Sompo International’s commercial P&C combined ratio in Q3 improved by 2.4 points to 92.4%, mainly due to lower losses from natural disasters. Underwriting income in this line was $518.1m, up from $350.7m in Q3 of 2022.

Looking at the firm’s consumer business performance, net premiums written in Q3 grew by $37m. The combined ratio for this line improved by 19.5 points to 94.7%, with an underwriting income of $47m, up $132m year over year, due to profitability improvement in Turkey and Brazil.

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