Sompo Holdings to focus on integration after acquisition spree

“Now that our non-life insurance business overseas has grown almost to the size of the domestic business, we no longer have to differentiate strategies for overseas and domestic operations,” said Okumura. — Reuters

TOKYO: Sompo Holdings Inc will place more focus on integrating domestic and overseas operations for further growth after a spell of acquisitions abroad boosted the global presence of Japan’s No. 3 non-life insurer group, a senior executive says.

“We shifted capital allocations overseas to secure a foothold in growth markets, with a sense of emergency over a rapidly ageing home market,” said the group’s chief operating officer Mikio Okumura.