Sompo Holdings, Inc. (Sompo) has entered into a merger agreement with Aspen Insurance Holdings (Aspen), where it will acquire 100% of Aspen's issued Class A ordinary shares for $3.5bn.
“Strategic acquisitions have been a key part of our growth plan to build a robust and diversified global P&C platform, and Aspen represents an excellent opportunity at the right time in the market cycle,” said Sompo P&C CEO James Shea.
“We look forward to welcoming the team from Aspen as we bring our organisations together, recognising that the P&C continues to value platforms that can underwrite and manage capital and risk at scale, and with exceptional skill.”
Aspen has expertise in a variety of global reinsurance lines including casualty reinsurance, property CAT reinsurance, other property reinsurance and specialty reinsurance, while its Lloyd’s syndicate provides access to complex risks and reinsurance licensing across untapped markets in regions including APAC.
Sompo intends to integrate Aspen’s business with its overseas insurance business to pursue further expansion opportunities together across developed markets.
The transaction has been unanimously approved by both companies’ Boards of Directors and is expected to close in the first half of 2026. The transaction is subject to certain customary closing conditions for a transaction of this type, including the receipt of antitrust and insurance regulatory approvals, consents and expiration of applicable waiting periods.