Sompo International Holdings Ltd., a specialty provider of property, casualty, and specialty insurance and reinsurance, reported an insurance service profit of $1.038 billion in its first half financial year results, an increase of 75% on the prior year, with the firm highlighting significant growth across all three business segments.
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.
About the Author
