A wholly-owned subsidiary of Property Insurance International Holdings Ltd. (SIH) successfully completed the acquisition of Aspen Insurance Holdings Ltd. by purchasing 100% of Aspen’s issued Class A common stock.
The closing follows the initial $3.5 billion deal announced in August 2025.
Mikio Okumura, Sompo Group CEO, said: “Today marks an important milestone in our strategy as we continue to execute Sompo’s plans for profitable growth, strategically deploy capital and secure a globally diversified property and casualty (P&C) platform. I am delighted to welcome the Aspen team to Sompo.”
Under the terms of the agreement, Aspen will now operate under the Sompo Group umbrella and begin the transition to the Sompo brand.
As part of the leadership transition, Mark Clutier will transition from his current leadership role to an advisory role with Sompo.
While Aspen’s Class A common stock has ceased trading on the New York Stock Exchange, the company’s preferred stock will continue to be outstanding and will continue to be listed on the New York Stock Exchange.
According to the announcement, the relevant rights, terms and conditions will remain unchanged, but Sompo and Aspen may seek redemption or buyback and/or delisting from time to time in the future.
According to credit rating AM Best, the acquisition of Aspen is likely to “be materially beneficial to the Sompo Group’s business profile following the acquisition of Aspen”.
James Shea, chief executive of Sompo P&C, said: “This transaction continues our commitment to invest in and expand our global property and casualty business throughout market cycles. The addition of Aspen’s reinsurance and insurance portfolio and broader presence in the UK enables us to accelerate our commitment to our customers, employees and shareholders.
“We look forward to welcoming our new colleagues and continuing to build our global portfolio through investments in people and technology. Aspen’s underwriting and client-focused culture will ensure a smooth transition as we as an organization engage with our clients and partners.”
In September 2025, following the initial announcement, AM Best conducted a review of the Financial Strength Rating (FSR) of Sompo Japan Insurance Inc. and its subsidiaries with a positive impact.
The credit rating agency believes the move could accelerate Sompo’s geographical diversification and significantly strengthen its presence in the global property and casualty re/insurance market.
