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Sompo to buy Service Insurance Companies to expand US workers comp

The Austin, Texas-based acquisition is expected to broaden Sompo’s underwriting, products, and distribution in workers’ compensation.

Reported · Written up by our desk · Industry & Deals

Sompo International Holdings Ltd. said it has signed a definitive agreement to acquire Service Insurance Companies, a monoline workers’ compensation insurer.

The deal would expand Sompo’s underwriting capabilities, products, customer segments, and distribution channels, as the company seeks to grow its US workers’ comp business.

Insurance Journal reports Service Insurance, founded in 1982 and based in Austin, Texas, brings workers’ comp claims expertise and a focus on small and medium-sized enterprises.

Sompo said Brad Davis, the current president of Service Insurance Companies, will continue to lead the business after the acquisition.

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