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Sompo Holdings has now completed its acquisition of Bermudian insurance and reinsurance group Endurance and as a result becomes the owner of specialist catastrophe insurance and reinsurance linked investment manager Blue Capital Management Ltd.
The acquisition of Endurance, for a total consideration of $6.3 billion, closed yesterday and Sompo has created a new subsidiary, Sompo International which will be based in Bermuda and provide an integrated global commercial insurance and reinsurance platform for the firm.
The existing commercial insurance and reinsurance business of Sompo will also be folded into the new Sompo International unit, which together with Endurance will make both parties a larger and more meaningful player in that space.