Sompo International Holdings Ltd. promoted two executives. Liberty Mutual named a financial industry executive to its board of directors.
Sompo International Holdings Ltd. named Thomas Brazil chief executive officer of SI Insurance (Europe), SA, the company’s platform for European Economic Area insurance business. Brazil’s appointment is subject to regulatory approval.
Sompo International, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, noted Brazil has held a number of leadership roles in the European insurance and reinsurance field as both an underwriter and broker. He will relocate from Zurich, Switzerland to SI Insurance (Europe)’s headquarters in Luxembourg.
Brazil assumes the role previously held by Takashi Kurumisawa, who will now join the Sompo International Office of the CEO as Executive Vice President Transactions Strategy and the Sompo International Retail Executive Team, both effective immediately. In his new role, Kurumisawa will provide coordination focused on the integration into Sompo International of the remaining Sompo overseas businesses outside of Japan, a key strategic initiative for Sompo Holdings, Inc.
Before joining Sompo International in 2017, Kurumisawa was general manager of the Global Strategy Office of Sompo for eight years and led the transformation of Sompo’s overseas business, focused on M&A and integration of acquired companies. Kurumisawa will be located in New York City, subject to immigration approval.
Brazil is currently senior vice president, and head of Europe Property Catastrophe Reinsurance at Sompo International. He joined the company in 2012 as a Senior Property Catastrophe Reinsurance Underwriter for the company’s European portfolio as well as Africa and the Middle East and was promoted to his current role in 2016. Before that, he was a Property Treaty Underwriter in the European market at Aspen Re since 2007 and prior to that spent five years at Aon Benfield as a Reinsurance Broker, also focused on Europe.
Jay Hooley, chairman and former chief executive officer of State Street Corporation, has been elected to Liberty Mutual Insurance’s board of directors.
As former CEO of State Street, Hooley led one of the world’s leading providers of financial services to institutional investors, with 40,000 employees, $31.6 trillion in assets under custody and administration, and $2.5 trillion in assets under management as of December 31, 2018.
Hooley serves on the board of the Boys and Girls Clubs of Boston and as a member of the President’s Council of the Massachusetts General Hospital. He has received numerous recognitions including: Global Custodian’s Lifetime Achievement Award, NICSA Robert L. Gould Award, New England Council’s New Englander of the Year Award, the Partnership Inc.’s Bennie Wiley CEO Diversity Award, Lewis Family Foundation CEO Social Leadership Award, and the Boston Municipal Research Bureau’s City Champion Award.
Sources: Sompo International, Liberty Mutual